On Tue, 12 Feb 2008 09:18:34 +0000, Phil Cook wrote:

> And lo on Tue, 12 Feb 2008 01:42:29 -0000, Darren New <dne### [at] sanrrcom>
> did spake, saying:
> 
>> Phil Cook wrote:
>>> now it's - "please borrow money off us"
>>
>> ... which makes sense, when you realize that money is created by you
>> borrowing it.  If everyone actually payed back everything they owed,
>> there would be no money left.  Of course, that's mathematically
>> impossible, since people necessarily owe more than they can ever own.
> 
> Which is why I'm always amused when I read the headlines deploring the
> fact that the population is in debt to the amount of £Xbn, that's how
> our econmy works now.

Thing that gets me is that what's good for individuals is bad for 
business (and vice versa).  For example, one company I worked for was 
*proud* of being classified as a "late payer".  On the personal finance 
side, that just doesn't work - it kills your credit rating.

Jim

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