Thursday, December 21, 2006

WHOSE MONEY IS IT ANYWAY?

If you pay attention to the financial news then you already know that it has been a good year for Wall Street... and the Danish economy.

This year Wall Street is paying out about $9 BILLION dollars in bonuses to reward their workers. And Denmark is enjoying large surpluses in trade balance and in the public finances. The National Debt, which has plagued Denmark for decades will soon be null - as the Government of Denmark brings home a surplus that will exceed Wall Street's Bonuses.

So when you start to hear heated discussions about the generous bonuses at profit-making companies (as opposed to large payouts to inept executives at money losing firms!) and the balance of payments and public debt just ask yourself "Whose money is it anyway?".

Reliapundit adds: I guess that the Danish gov't should return their surplus to the folks to whom it really belongs: the Danish people! (BTW: The notion of "balance of payments" or balance of trade/trade balance in international trade is bogus. Trade is totally balanced when a buyer exchanges money for the seller's goods. For example: We get goods from China - which we resell at a profit and then enjoy - and China gets money, often an LC. That's an evem-steven trade; it is not imbalanced. We no more have a so-called "trade imbalance" with China then you do with the grocery store.)

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