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Originally posted by xxshadowfaxx
Stimulus did not fail It helped keep the economy afloat for the past two years. Now that money has run out, and everything is falling back into the pit it was in. I don't think there is any other solution other than to do another bailout. Yes, the bottom will fall out eventually, but its so far gone now that we can't fix it. So all we can do, is last as long as possible. The next bailout might last us another 2 years. Either way, the economy is doomed, its just a matter of when.
Originally posted by etcorngods
Isn't this a beacon telling us where to get money to save our economy. Get it from the filthy rich. People should not be allowed to have that much money.
“How Much is Too Much?
“Bet you’ve heard that more than a few times. But picture this…
“Someone says, ‘Just look at that George! He has perfect health. High energy, no diseases, and he hasn’t even had a sniffle in months. Don’t you hate greedy people like that? Poor Elizabeth has the flu, and George is hogging all the health!’
“You’d never say that about health. Or love. Or happiness. So why would you say it about money?”
# That the Treasury Department issue U.S. Notes (exactly like Lincoln's Greenbacks) to pay off the National debt.
# The reserve ratio of private banks be increased from 10% to 100%, thereby terminating their ability to create money, while simultaneously absorbing the funds created to retire the national debt.
These two relatively simple steps, which Congress has the power to enact, would extinguish the national debt, without inflation or deflation, and end the unjust practice of private banks creating money as loans (i.e., fractional reserve banking). Paying off the national debt would wipe out the $400+ billion annual interest payments and thereby balance the budget. This Act would stabilize the economy and end the boom-bust economic cycles caused by fractional reserve banking.
Originally posted by FiatLux
Yep, and when that is gone, it`s back to the same old same old debt. What you are saying, will take one great deal of time. Time we don`t have if we don`t want to dump this debt on our future generations.
[edit on 1-9-2010 by FiatLux]
Originally posted by xxshadowfaxx
Stimulus did not fail It helped keep the economy afloat for the past two years. Now that money has run out, and everything is falling back into the pit it was in.
Today our elective officials are struggling with what financial reform looks like. However, dealing with our personal financial reform is essential to financial reform and stability in our homes. According to the CFO's monthly magazine, 45% of Americans are spending less, however; 53% of Americans polled believe they will continue their previous spending habits after the economy returns. This is not financial reform.
Financial reform is not forgetting what we learned in the past. It is embracing our lessons and changing habits. Following a recipe for financial reform is a must.
>> When you produce more than you consume, your monetary VALUE increases.
>> When you consume more than you produce, your monetary VALUE decreases.
Originally posted by xxshadowfaxx Yes, the bottom will fall out eventually, but its so far gone now that we can't fix it. So all we can do, is last as long as possible. The next bailout might last us another 2 years.
Originally posted by Kaytagg
reply to post by TheBandit795
what I'm not okay with is the inequality in the country, and the fact that it's not shrinking -- it's growing.
That's not good. Too much capital in too few hands leads to tyranny, imo. And who's going to stop it, exactly, when our political system is greased entirely by money? The candidate which raises the most money always wins -- so when the top 10% of wealth in this country owns 90% of the assets, then the top 10% of the wealth will be deciding who gets elected and what laws are going to pass.
I'm not against mega-wealth, although I hope you realize that past a certain income bracket, money no longer means what it does to the rest of us. It's used solely as a score card.
but i'm never going to be pulling in 100 mill a year
You are not thinking through the entire set of consequences that would have happened if we had let GM and Chrysler fail. It wouldn’t have been just the assembly plants that would close. It would have been: The plants. The sub assembly plants. The parts manufacturers Tire factories. The parts suppliers. Trucking companies. Dealers Family restaurants next to the plants and dealers. Bank branches