Economically simplistic but still perhaps the cleverest and simplest description of the debt problems facing both the US and many European counties. Why the U.S. was downgraded:
  • U.S. Tax revenue: $2,170,000,000,000
  • Fed budget: $3,820,000,000,000
  • New debt: $ 1,650,000,000,000
  • National debt: $14,271,000,000,000
  • Recent budget cuts: $ 38,500,000,000

Let’s now remove 8 zeros and pretend it’s a household budget:

  • Annual family income: $21,700
  • Money the family spent: $38,200
  • New debt on the credit card: $16,500
  • Outstanding balance on the credit card: $142,710
  • Total budget cuts: $385
Puts it into perspective seen like that…
 

“But words are things and a small drop of ink, Falling like a dew, upon a thought produces That which makes thousands, perhaps millions think; and why what we write needs to carefully considered… ‘Tis strange, the shortest letter which man uses Instead of speech, may form a lasting link Of ages; to what straits [...]

Jan 112012
 

The language is no longer current, the “motivational techniques” will not pass today’s muster but in essence there is much to be said for the sentiments expressed in… A Message to Garcia By Elbert Hubbard 1899 In all this Cuban business there is one man stands out on the horizon of my memory like Mars [...]

Jan 022012
 

I’ve just finished a call with a colleague in the States who is facing that thing we know so well… the mid-life crisis. It sounds banal but it is a very real experience for those going through it. And it looks something like this. My work no longer satisfies me I try to find satisfaction [...]

Jan 022012
 

A German colleague and I were discussing the Euro crisis and the general perceptions surrounding it. At one point he made the comment that “people are still afraid of a strong Germany”. My response to him was that Germany will be forever misunderstood. Then I read this letter to the editor in one of New [...]