The Financial Times today ran a fullpage article on 'Life beyond Earth' with the estimate of 360-38,000 life forms capable of interstellar communication. Now this could just be a little light diversion from their core subject matter, or perhaps it is serious investigation of new sources of finance for World Inc.
Governments, via their central banks, are now borrowing vast amounts of money from themselves for nothing to purchase unvaluable assets (bank capital). It is a situation you can only get to through a step process of crisis management. It is not a promoter of sound money. However, quantitative easing is where we are at, printing money in the hope it reinflates the economy without debasing the currency in the process.
Anyway, sound money or no, the combination of a rapidly contracting tax base, extraordinary increases in public borrowing requirements due to bank bailouts, fiscal stimulus packages and rising social security spending (plus mounting pension liability questions, further bailouts, increased IMF funding requirements etc) in all countries, simultaneously means global sources of funding are somewhat stretched.
So, what if we could borrow from another race? Is the FT subtly suggesting Goldman's are out there trying to syndicate the first interplanetary bond underwriting? What if we could get one of the other 340 planets in the galaxy to take out an equity release mortgage with a third planet and use the proceeds to buy Treasury bonds? Problem solved. Another new source of financing to sustain us until for another decade or so, who knows?
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