Well, my friends, the United States economy on Wall Street dropped 777.68 points today. We've been seeing bank failures all throughout the US and Europe and no one knows what to do to save the world from a global depression, since we are already in depression.
Now to the question, what would you personally do, if you were the president/trade secretary/etc. to fix this mess?
Personally, I would actually promote a purely capitalist method: let the large banks fail, let the world go into economic slowdown, and have the system re-built naturally.
Also a side question; would you support the 700 billion dollar bail-out plan that failed in the house this morning?
I just like how certain political figures espouse the "free market", capitalistic ideaology while engaging in the most socialist policies and activities in the history of the country.
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I think some sort of bail out is probably necessary, but if you're going to use tax dollars to support failing companies, we should all get some sort of share in the company should it eventually turn a profit again.
If you have money saved around your mattress, invest half of it; save the other half just in case. And hopefully you'll be able to stick it out without going broke, and be able to wait for it to turn a profit.
As for the economy, I'd shut down as much international importation as possible by making tariffs sky high, and kick-start the American production companies, creating jobs and money for the people. International goodwill and likability would be at an all time low, but sometimes that's necessary. Rinse and repeat for all other countries.
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Last edited by Darth Macabre on Sep 30th, 2008 at 04:55 AM
I heard on the news that some managers/ directors etc are getting "golden parachutes" that one CEO who was in the job a few weeks is getting 8 million. Although his bank has gone bankrupt.
If any average Joe with a shop or somet were to experience this, heŽd be f**ked
Yes, but I don't think France's currency system is worthless. America's on the other hand is, so I don't think by printing more money we are going to solve anything whatsoever. If anything things will get worse over the next couple years.
EDIT- I heard that Congress was threatned with martial law if the bill did not pass. If that's the case then I'm not suprised the bill was passed after its second attempt.
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Last edited by Admiral Akbar on Oct 3rd, 2008 at 07:10 PM
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Sep 29th, 2008 10:48 PM
