Hi there, believers in household economics of living within your means.
As Witchdoctor knows, the household average IQ is definitely above 66. 67 will do for the case.
So, this facts are accessible to all the believers. Especially the Nobel prize and their followers economers, and all the bunch of thinthanks and the rest.
The last invention of family household economics is that people will work in Slovenia a day more, a working Saturday, and this money will go into the black hole of the climate disaster mending or whatever.
So, dear household, lets start with the chickens, and this fantastic idea is due as authors rights, to Witchlady: A farmer has to go early saturday into the hen pen and convince the chickens to lay a sixth more of the usual eggs for solidarity purposes.
The same goes for the cows: a sixth more of the milk .
As we all know, currently, apart from some creative accounting, the working week is 5 days. On the sixth day Slovenia will work for solidarity. So, to be really productive, this 16% a week bigger production will have to be sold. Mind, at the same price as the other 5 days production. So, if there is a demand on a monthly basis of 3% more goods at the same price then , apart for forcing chickens, cows, tomatoes and potatoes to give and grow more on Saturday, the thing may be useful. If the demand is weaker than the offer (production) there will be a worse effect: the goods will be sold at a lower price than they have it normally. So, to give in solidarity a day of the week production is, ha, a fine propaganda or a loss of income for the business.
The best fantastic case is the State Public Administration; they will finally start working, on Saturday! But, as you may know, this people are paid from the State Budget. So, the day they will “work” “more” which is yet to be proven scientifically in God knows which measurement mechanism , this day will be paid from the State budget and it will go by this loop with a loss of ( that is entropy) of a part of money paid for this “task”. So, the State will have to cover by taxes or by debt this “extra” working Saturday of the public administration from its own budget as a by pass channel invention.. Definitely it would have been more efficient, much more, if this money was transferred from the State budget directly to the people in need.
As for the energy producers, ha, will they produce a sixth more of energy at the same or even higher price?
Or the people will drive a sixth more and so consume a sixth more of the petrol?
For solidarity.
By the way, nobody asked ONE QUESTION: Who for god sake gave the Slovenian Prime Minister the number of 500 hundred million as an estimate after the disaster? In fact, this stupid number , said by the PM, was echoed on CNN and all around the world as a cost of the disaster. Imagine how many people waved their hand, thinking that such a lousy small sum is really a no brainer and nothing to be preoccupied with.
Who gave Him this stupid Number? It was Him? Who made people think this idiocy in diminishing the cost of damage, and more important, aimed to diminish the real cost to be invested in repair? Who is the chief accountant in this Household selling this neoliberal bollocks? The result of this stupid small number is obvious; the others involved from EU to any EU institution will give only a small change for the reconstruction.
Witchdoctor is waiting. Who did it, it was deliberate, or do we expect from the Slovenian PM who was on top , the manager of the biggest energy corp in Slovenia to make this incredible assumptions when counting the costs?
Because the cost are around 5 billion euros, not 5 hundred millions and this costs are dynamically rising by each day of lost bdp and people living in worse than austerity household situation.
Do you want to live within your means in the situation of the climate disaster? OK, then wait for the next one coming.
What about the real options, dear householders of family jewels?
The real options are :
Issuance of Certificates of fiscal credit- Call and pay Enrico Grazzini for consultancy
Call and pay for consultancy Warren Mosler or William Mitchell – the MMT accounting flows
Issuance of the Slovenian bond aimed to specifically slovenian citizens which can subscribe them anywhere , even in the supermarket, even half of the bond, at interest bigger than the ECB rate.
Yes this ECB interest rate is what ALL of YOU are in favor! Because you are all believers of the household economimics of living within your means!
But, as you know the Slovenian banks give currently ZERO interest on savings in front of the ECB rate and 8% bank loan consumer rates, so household speaking, you will empty their pockets by diverting savings into bonds ( AND YOU KNOW THAT, that is why you are so shy) and puff, the bad banks npf will be on the rise.
Or, establish a SPV ( special purpose vehicle) financed by you underutilized SID public bank lead by he best neoliberals in Slovenia haha, and start giving money to the business, people, for infrastructure and houses and do not use by law the property rights and so make a virtual nominal assets on the SPV books without having the decision power on private property and at the same time build a huge public accounting assets which can be rolled on as a further stock of investment.
Issue T Bills.
Exit the EURO. Or, try to convince your household pals out there to change the rules of the treaty. Unfortunately, just lately, Slovenia has supported to most harsh back to the “fiscal” compact rules timetable starting in 2024. Haha, that is the company you keep, so lets work saturday and lay more eggs.
The Witchdoctor recipes are here, made long ago, but, hey, you know better.
https://www.witchdoctor.space/2020/08/17/exit-from-the-crash-of-the-debt-driven-economy-for-dummies-3rd-main-course/
https://www.witchdoctor.space/2020/08/09/solving-the-debt-driven-economy-inequality-in-a-few-moves/