Tangible Liability

Social/ SilenceOnKey/ TopiksAnOldMemik/ HabitWeMustNowGraspOrFace/ TheEnd

Ten weeks ago who would have said that the unemployment rate in the world’s biggest economy would have gone from ‘brag rights’ lowest level in 70 years: to worst level on record. Thus we are introduced to some massive damage to the world’s progress, as we survey the liaility cost of a predictable problem.

Costs you will remember make that liability tangible

The Tangible Liability inherent in under-investment securing our position in the multiverse of imaginary wealth and prosperity that we call a global economy: has revealed the myth of our brave new world.

Ironically, a bookkeeping rule prevents us from going some considerable way to solving the most problematic part of the catastrophe we currently face… the disappearance of consumption expenditure when people have no work..

The rule requires that certain classes of Assets reflected on a business’s financial records, most specifically on the Balance Sheet; may only be recorded at a nominal and prudent value because they are INTANGIBLE Assets.The value cannot be measured.

One such INTANGIBLE asset is called DATA.

So a business may have a million dollars’ worth of bath plugs on its books at a value that can be measured: e.g. 10 bath plugs to the Dollar= tangible asset

On the other hand, the brand name of the business may be famous, like Perrier once was; yet the value as an “intangible Asset” as reflected on the balance sheets, is normally modest: relative to the turnover of the business. Its value became noticeable when some bad news killed a multi-billion dollar business in hours.

Value here is abstract and basically non-measurable… other than through proxy formulas that often themselves are no more than attitude surveys. Or when the shit hits the fan.

So when value is abstract the rules of the Basle Agreements on Accounting standards require, reasonably, that the value be a prudent assessment: erring on conservative.

Thus; along with such quaint ideas as Goodwill, and Brand Identity: Data takes its place in the ranks of intangibility. Apparently: In practice DATA ranks generally low; often at almost absurdly low numbers, in the books of the standard tech or less tech business.

Check Facebook for instance. It beautifully exploits its vast data holdings to produce 29 Billion dollars[US] of income… But the data itself doesn’t even get a mention in the balance sheet. Presumably it is there somewhere: but not noticeably.

However, prudent accounting practices can sometimes be, almost foolishly, understating risk regarding the asset… Plus risk can often impact only after some time after the event. Thus did Cambridge Analytica demonstrate the real tangibility: of the liability that was incurred through sloppy data management… As does the Covert 19 virus now.

The basic ‘bookkeeping’ rules that require data to be shown as an intangible asset at a prudent value that may see DATA being less highly valued than its records allow…. While the corresponding costs [ie;liability] of holding the DATA hacked are huge.The market understands value better than bookkeepers in this case.

Nonetheless; the facts of life are that all Assets sit on the credit side of the account: because they are OWNED.

So let it be with DATA

And the OWNERS are the PEOPLE who supplied it.

Another way to look at this: is that the OWNERS thus have EQUITY in the data.

So. The world is faced with a catastophe. This virus is here and usually they stay.
So this disruption will continue and we face a global depression that could be worse than any ever known. Universal Basic Income is a 4th Industrial Revolution Tool that can alleviate pain.

The world has changed and now runs on DATA… something in which the Owners have equity that is not being realised.

So the solution starts with a change in the rule that says data has an intangible value because it is turning out, that the damage could see the end of all things that we have ever known.

Therefore i postulate the Thesis that:
Data holds the key to a Universal Basic Income…
That Universal Basic~Income Is Not Founded On the illusion of infinite Debt because it coomes from the Credit side of the business.
Debt is the short version of Debit the opposite of equity

TheEar/ LySciFiWri/ TersLikeHeinleinAsi/ MovAndHerbertPlayedAWorldCalled/ Credits/

Those credits belong to those who gave them … We the People.

Go Figure

Loves ya all