28 October 2011

Do we have Enough Sovereign Debt?

As we get older our financial acumen plummets!
In the pages of Market Watch today there is a test of older people's financial wisdom - needed to take care of their hard-earned wealth. It comprises a significant proportion of the national total. At near 72 years old and not an American with knowledge of what a 401 etc is I thought a 90% score or 100% on all other questions was OK.

A good job too as I am offering financial advice to Europe and America on their various Sovereign Debt Crises.

There is no need to repay those Sovereign Debts. What matters is this: Where can those less astute older people put their hard earned savings to keep them fresh and not lose value? The answer is in Sovereign debt IF it is properly structured indexed to nominal GDP growth or Average earnings Growth or anything similar but NOT prices inflation. The question to ask is not "How can we create economic growth AND reduce Sovereign Debt?" The question to ask is "Have we got the right amount of Sovereign Debt?"

See my blog on this and other personal finance issues:


and for the most exciting breakthrough in money matters in decades (some say) try my other blog:


And get them to do something about it before my score on these tests starts to fall!

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