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what is the solution to the economic crisis? Bailout ou bien?

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what is the solution to the economic crisis? Bailout ou bien?

Message par *Maadox le Ven 30 Jan - 15:18

I am of the school of thought that this bailout needs to be coupled with something else to bring back America or the world on their feet...The solution to this problem does not lay in the "massivity" of money deployed but rather the revolutionary way of fixing the problem...I am not an economist, i am an it/accountant/finance (don't ask...its life Very Happy ) and from all i have been reading, i personally think that we need to "Reboot" the system...what is being done now is trying to work a system that don't work no more...and one proposition of rebooting the system is creating formulas that will "erase" debts for everybody to a certain level based on income, debt ratios etc...Since we will all have a low level of debt, we will be more able to pay off our creditors and with the money that is being injected into our pockets we can get the economy up and running again...What y'all think? Very Happy
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*Maadox

Nombre de messages : 129
Date d'inscription : 16/11/2008

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Re: what is the solution to the economic crisis? Bailout ou bien?

Message par Silver le Sam 31 Jan - 2:00

You're right, however, erasing people's debts is something corporate America doesn't want to hear about. Those corporations are the reason why we are in this mess, but you'd think they are the victims, judging by their constant begging for help from the governement. It's a case of corporations gone wild, capitalism has made corporate America so powerful that now the same system seems not to be capable of taking that power away. Corporate America controls the congress, the Wall Street cats are big contributors of our senators and representatives campaigns. You think these congressmen will go agaisnt the hand that feeds them?
There are a few corporate that really need the bailout, but that is not the case of all of them. This crisis is a big excuse for some big corporations' ceos and boards of directions members to get even richer than they already are. How can you explain that some companies are already making plans to buy jets they clearly don't need and giving themselves bonuses when they should be more concerned about getting the companies on track?
Now let's talk about main street. It's panic, paranoia, high anxiety...
People are scared for their jobs, houses, the future doesn't look very good. These people are the most important part of the economy, they need to be assured their future will be okay. They need to be assured they can spend the little money they are holding to, they can spend that money to help businesses function and expand the economy. Instead, they are threaten with lay-offs, state tax increase on sales (and we are supposed to be encouraged to spend). If I stick a person up, it's sing sing (a prison in NY) for me. But when ceos and investors like Madoff steal from people they are under house arrested on a luxury Park avenue suite, surrounded by body guards, they can even complain about not being able to go out and buy something at the grocery around the corner. My goodness! What's wrong with this picture?
Poor Obama! He's inherited all this mess, and there is not much he can do. See how they tried to boycott his bailout plan? I think he'll do the best he can. I am happy he's going after Wall street, I hope the plan he'll reveal next week rid off Wall street of all these scums.
I don't know how much these $500 per person/$1000 per family tax cut will help. Giving the mess mainly caused by corporate America, I think reducing significantly people debts would be more than justified.
I think this crisis can be solved in the short-term if the government (helped by the Congress) has the balls to effectively help Main street and therefore reboost the economy. Remember last summer when the gas price was going outrageously up and these same experts were saying we were in this for at least 5 years? Now the gas crisis is almost like the day before yesterday's bad dream. We can start anew, this time people will have to pushed to live within their means (people are highly addicted to credit and tht is one big cause of this crisis, maybe the credit system needs to be changed)and corporations will have be required to strictly function within ethics.
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Silver

Nombre de messages : 2335
Date d'inscription : 04/06/2008

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