UUUMMM So the politicians are looking to borrow money that the FED printed out of thin air and give it to poorly managed companies.
They are borrowing credit that must be returned at interest.
They are claiming it will "kick-start" the economy
Instead, why don't they spread out the hundreds of billions to consumers, wipe out credit debt, and that way people will be able to put money back in
to collapsing banks/industries. Not give it as cash, but put it directly to wiping out debts to a certain value.
The Government should
-pay off personal debts
-not pay corporate debts
I know people are saying they should give people cash to spend, and I'm not convinced that would be wise. I suspect people won't clear debt and
people will hold onto it.
For example, they did this in Australia in December, about 5K each I think to spend, and it didn't really work, they should have got people out of
the debt trap instead.
The People will do more with that bail out money than any corporation will, and it will generate far more consumer confidence than if they give it to
companies that are worth nothing and will spend it on what? Bonus payments ? creating a bigger debt hole?
Why not trickle up effect instead of trickle down? Let the rescue package be to rescue the people who voted you in Obama, not the maniacs who got us
all into this mess.
It would be interesting to hear what people think can be done to reverse the recession, rather than wait to hear what the Government willl do, What do
you think they should do ?
[edit on 28-1-2009 by zazzafrazz]
[edit on 29-1-2009 by zazzafrazz]
MOD EDIT: All caps title.
[edit on 29-1-2009 by TheBorg]