Bailout
By maddragon
@maddragon (17)
United States
October 23, 2008 11:29am CST
Okay, so our Federal Government has decided in all its wisdom to bail out the mortgage and lending institutions that hold the notes on all our real property, credit cards, student loans, etc. So a friend of mine and I were discussing this at great length, and came up with this alternative (and we think) better solution.
Give every household $1 million dollars, instead of the major companies that have obviously squandered our money. This would enable ALL households to pay off their mortgage, credit cards, student loans and be debt free. This in turn would enable lenders to also be debt free and everyone would start anew.
So, what do you think?
1 response
@LilPixelle (828)
• United States
23 Oct 08
this would not only reward irresponsible spending, but where do you think that money would come from? they would print being noone can afford to pay that much in taxes, so we would have more money pumped into our economy, but the results would be disatrous, it would likely take hundreds of dollars to buy a loaf of bread, that wouldnt be good, the best thing in my opinion, is let the lending agents, and the people who took out too much debt, take the fall, they did earn it, and it will be hard, and it will launch us into a recession yes, but if we can get the government to limit imports (which means the countrys we were importing from would cash in the millions of dollars they have in our money ALSO fueling inflation) so that factory jobs are more realistic in the USA (also heavily taxing exporting jobs and imports would help, which MIGHT prevent or hold off the inevitable happening of them dumping all our cash) but we would also need to lift laws like that which the FDA gives against selling home baked goods, My recommendation here, is placing a label or warning on ALL home baked non FDA approved foods stating that you eat it at your own risk and that the FDA did not approve it, and finally temporarily lifting to a degree the zoning laws that prevent people in cities from keeping farm animals like chickens, All of these will lead us to a recession yes, but we are heading to that anyway, lifting those would enable us to SURVIVE the recession and build up a new economy and market, essentially through laws, we screwed ourselves.
@maddragon (17)
• United States
28 Oct 08
I couldn't disagree more.
So, you're saying that because the lenders (the place where we keep our money)were fool hardy with OUR money and gave out loans to people and companies that were un-creditworthy, that the rest of hard-working America gets to foot the bill for it and lose our homes, jobs, cars and self-worth for it?
I say give it back to us....ALL OF IT. Shut down the companies that cannot be trusted with a free glass of water, much less billions of our dollars, and let us get on with it! Wipe the slate clean!
@LilPixelle (828)
• United States
29 Oct 08
I'm sorry, I Think i caused a missunderstanding, Yes by all means give the money they had to give loans back to us, but the 800 billion (or at least most of it) that they are going to give to the banks, Doesnt exsist yet, that is, it hasnt been printed, because they arent going to be able to get that much out of citizens without raising taxes enough for people to start rioting, giving the 800 billion to private citizens would be bad, because it only accomplishes rising inflation, now replacing the money we had in those banks that went under wouldnt be bad, (as long as we were getting back what we put in and preferably not more) and yes the banks should be just allowed to go under so that we can just start afresh, that would truly be best for this country
Hopefully that fixes the missunderstanding (unless I messed up with that again XD)