It seems as though the world has been consumed by a vacuum, which has taken all our money from us. The UK is struggling to make ends meet. The USA legislatures have spent the week scrambling around to increase the country's credit limit. Greece, Portugal and Ireland are among a group of countries that have teetered on the brink of going under because of their debts. Who is owed all this money and where has all the money gone?
Are the debts owed to other countries? If so, which ones? If the USA cannot pay its bills, then I doubt many countries are doing any better. Or maybe these countries have borrowed from the banking sector? That cannot be the case either, as governments had to bail them out for their incompetence.
The problem is I am no economist, so I do not have the answer. It seems as though dollar bills and pound notes have just vanished off the face of the earth. Maybe an economist has an explanation for this. Is it possible for money to just vanish? More reflections to follow later in the week or at the weekend.
