HireScores.com Recruitment Forum

Forum Community => News & Information => Topic started by: Jenna on January 30, 2009, 07:12:23 PM



Title: How do you restore confidence in this economy?
Post by: Jenna on January 30, 2009, 07:12:23 PM
It seems that every day more and more companies are laying people off at work.  People are getting scared that their job might be the next to go.  As a result, people are not spending their money for fear of what the future holds for them.  Does anyone have a solution to the problem?


Title: Re: How do you restore confidence in this economy?
Post by: Timber on January 30, 2009, 08:22:42 PM
I don't think there is a solution.  Government officials are trying to find an answer, but it seems as though they are making things worse.  Any possible solution is falling on the tax payers who will be the ones paying for their mistakes for several generations.  Does anyone feel the same?


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on January 31, 2009, 12:08:05 PM
I heard a solution from Jon Stewart on The Daily Show the other day. I'm sure most of you are aware of that programme but it's a satirical American news show. Seriously though, the best idea I've heard in recent months. He suggested give the public all of this bail out money but it can only be used for clearing debts. We will then give the money to the financial institutions, which will of course help them, and we will be helped as we'll be out of debt. Why give the money straight to the banks who can then have offices re-decorated, by new planes and hand out fat cat bonus packages. Maybe the Jon Stewart idea is a little Utopian I don't know, it makes perfect sense to me.

Or perhaps our capitalist society only thrives when we are all in huge debt?


Title: Re: How do you restore confidence in this economy?
Post by: Bob on January 31, 2009, 02:49:36 PM
Great idea. It would never happen of course.


Title: Re: How do you restore confidence in this economy?
Post by: lava on February 02, 2009, 07:28:45 PM
Hey Robin, I agree with you!  I could use the extra money and so could everyone else.  However the problem lies with the banks who are making it difficult for people and businesses to be approved for a loan.  In fact, we already gave money to the banks and I heard they need even more!  It's ridiculous!  In my opinion, there is so much corruption going on, no wonder we're in trouble!


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 03, 2009, 09:38:43 AM
I think the idea of giving the bail out money to the public but only to be used for paying off debts TO banks is genius, I assume part of the reason it will never happen is because the banks and this system needs us to be in debt? Humour me here of course because we all know this will never happen but if the Government gave us the money, we gave it to the banks and in turn paid off all of our debts, would they even operate? Does a capitalist system sort of work on the assumption that we are all in debt? It's getting a bit complicated now and a tad too political.


Title: Re: How do you restore confidence in this economy?
Post by: Tomtom on February 03, 2009, 08:23:05 PM
Robin, having the government give money to the public to pay off their debts to the bank will help, but unfortunately it will not solve the problem.  There is too much bad debt from people who are foreclosing on their house EVERY day.  That's a lot of money and the banks can't keep up with all the bad debts. 

My solution is let the banks go bankrupt, but that will never happen because too many people will be out of work. 


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 04, 2009, 11:53:05 AM
That's really the honest solution isn't it? To some degree I agree with you. Though harking back to my "Jon Stewart" point what would happen if a bank went bust you owed money to? Isn't that more the thinking on NOT letting them go bust. If a bank goes bust and isn't bailed out or bought by another company, and I have a mortgage with that bank, then would that mean the house is mine? No more mortgage? This would never happen so it's irrelevant but an interesting discussion certainly. A wider question I would ask, would be, does this mess mean that capitalism has failed?


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 04, 2009, 01:39:24 PM
I don't know if capitalism has failed but an outsider who knows nothing about our systems would surely believe so. The free market? Well then why are you bailing these banking institutions out?


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 04, 2009, 03:18:14 PM
My interpretation, knowing not much, is similar to the point you're making here Bob. I don't really know what "free market" actually means but if it means organisations are free to take risks to maximise profits then they've certainly failed at that. It seems if one was letting capitalism "play out" and be real these institutions would have now closed. Of course because our money and our debts are entwined in this complicated web "we" (the people or the Government?) cannot let that happen so are throwing all of this money at them. It's certainly an interesting and confusing time to be alive right now. What will happen in six months time seems to be anybody's guess.


Title: Re: How do you restore confidence in this economy?
Post by: Coultrane on February 04, 2009, 06:57:06 PM
I think we should let the BIG banks go bankrupt since they are the ones who messed up our economy and give the smaller banks money.  The smaller bank don't have a lot of bad debts on their books and they need to be rewarded for this. 

In theory if the smaller banks are given money, chances are they will loan this money out to people and companies which will jump start the economy.  Does anyone see a problem with this?


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 05, 2009, 01:13:18 PM
But what would happen to all the debt held by those larger banks? Would it be simply written off (if so it gets my vote straight away) or passed on to some other financial institution?


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 05, 2009, 04:30:34 PM
I don't know about the consequences but I agree with Coultrane about letting the larger banks go bust. They gambled, the failed, they should pay the price not the taxpayers.


Title: Re: How do you restore confidence in this economy?
Post by: Jenna on February 06, 2009, 05:59:07 AM
The Big banks are full of corruption.  Just look at the salary of the CEO's.  They even spend tons of money decorating their offices, buying corporate jets, having luxury parties, etc...  And you wonder why are having financial problems?

Get rid of them! 


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 07, 2009, 11:48:05 AM
That's a tough one isn't it? I think President Obama is the only leader (I may be wrong on that) who's openly criticizing these big bosses and CEO's for doing this. I don't think even millions of dollars or pounds of public money makes a difference to their "we do what we need when we need to" mentality. Though in a way, how would it? They are being rewarded for bad behaviour.


Title: Re: How do you restore confidence in this economy?
Post by: Jenna on February 07, 2009, 04:49:17 PM
Robin, have you been following the stimulus plan that Obama is trying to pass?  Many people are concerned that his stimulus plan will not work and many are afraid the plan is only a temporary fix.  Any thoughts on this?


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 10, 2009, 01:05:51 PM
I have been following it quite closely. I'm areal US politics junkie (which might come as no suprise to people here) and I watch the CBS evening news every day on CNBC and far too much FOX news in general. From what I've heard, as an outsider, it seems ok to me. It seemed Republicans liked it at first but then turned on it in unison with silly statements like "It's not a stimulas plan it's a spending plan." As Obama said in a speech last week, "What did you think a stimulas plan was if it wasn't a spending plan? That's the idea."


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 10, 2009, 02:20:47 PM
All this money is coming from China anyway. I wonder how much of the USA China would own if they decided to call in the debts?

Anybody have a clue?


Title: Re: How do you restore confidence in this economy?
Post by: Teddy on February 10, 2009, 06:32:44 PM
I have no clue how much money the United States owes China.  What ever the amount, it doesn't look good for America.  The U.S. is suppose to be a super power who can manage their country without the help of others.  Right?  They're digging a hole and there is no way out. 

Sounds like Ameica is eventually going bankrupt.. :-[


Title: Re: How do you restore confidence in this economy?
Post by: Jenna on February 10, 2009, 06:40:03 PM
Robin, many people are complainign that some of the items in the stimlus package have nothing to do with stimulating the economy.  Some of the items include giving money to Hollywood filmmakers and giving government officials for new cars.  How much stimulation will that give?

Here's some more:
$355 million for education on sexually transmitted diseases
$200 million to monitor earthquakes and volcanoes
$50 million for National Cemetery monument repairs
$200 million to repave the National Mall
$276 million for new computers at the State Department

This is why some people have a problem with the stimulus package.  What do you think?


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 11, 2009, 01:24:18 PM
I think that I don't really know enough about this to comment. That side I believe the things Republicans are complaining about make up less than 2% of the package so it seems the days of partisan politics are not over. I don't have a huge problem with the list below myself, I assume if the National Cemetery monuments need repairing or the National Mall repaving that people will be hired to do just that with that money. Therefore those bits count as job creating (or not job losing).

Still, I remain a non American so will always be an outsider looking in with an opinion. I just don't really have a problem with the things you listed.


Title: Re: How do you restore confidence in this economy?
Post by: Jenna on February 11, 2009, 09:20:09 PM
The problem many are having is some of these stimulus items will not fix the economy.  Sure, fixing the cemetery monuments might generate a few jobs, but how will this help in the long run.  Once the monuments are fixed, then what?  People will be back out of work.  It's only a short term fix.  The American economy is on the verge of a crisis. 

What many people don't understand is how we got in this situation.  It all started with the dot.com bubble.  When the dot.com bubble burst, government had to stimulate the economy so the focus was in real estate.  Now the real estate bubble burst and the economy is in a crisis. This time it's worse.  Everyone has an opinion on how to fix this, but I personally think none of them will work.


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 12, 2009, 01:06:14 PM
I guess it's very likely than none of these initiatives will work. We're all hoping, American or not I think, that this latest plan DOES work. Joe (The Gaffman) Biden said recently that there's a 30% chance this could all fail. I find myself almost quoting Obama when I say, to do nothing isn't an option. I agree. Everyone seems to feel that things will DEFINITELY get worse if the situation is left as it is. I guess all we can say is that they are trying to do something about so I remain positive that this package will create or save four million jobs as Obama also said recently.


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 12, 2009, 05:46:41 PM
But what does "$355 million for education on sexually transmitted diseases" have to do with stimulating the economy? 


Title: Re: How do you restore confidence in this economy?
Post by: Jenna on February 12, 2009, 11:19:29 PM
Hi Bob,

I agree with your statement, what does "$355 million for education on sexually transmitted diseases" have to do with stimulating the economy?

Many people feel the same way.  It appears as though some government officials have added their own "pork" into the package so they get their vote.  This is why government is corrupt and nothing ever gets done right. 

Another concern is we already bailed out the automakers with a previous bailout package.  They predict within this year, the same automakers will be back again for another bailout.  When will it stop?  I have my doubts on this new stimulus package.  Something else need to be done.


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 13, 2009, 12:08:33 PM
The only thing I can say to this is, I assume, 355 million dollars will put many people to work. I mean I don't really know what this is for and that much money will go along way. Maybe many areas will be able to hire somebody to teach kids about this kind of thing. I understand many peoples uncertainty about this stimulus plan, and as I said yesterday I'm an outsider looking in with an opinion nothing more than that, but this package contains no "pork" in the traditional sense. Individual ear marks. John Mcain and his ilk keep saying this, as does Sean Hannity. They want to American public to be afraid of this when really the only thing they're actually arguing for is two thirds tax cuts one third spending when the Democrats want two thirds spending and one third tax cuts. Bill O Reilly has said several times that this bill contains no ear marks or park barrel spending. If O Reilly says that, it must be true. I understand that certain members have asked for certain things to be in the bill, but I believe that's very different to the traditional "pork" we heard so much about in the recent election.


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 13, 2009, 03:12:51 PM
I have no interest particularly in politics or trust in politicians. Time and time again they let themselves down and why should we believe a word they say? I know if Brown wanted to do this kind of thing over here I'd be dead against it. Are you really telling me 355 million dollars couldn't be better spent than on education for sexually transmitted diseases. That seems ridiculous.


Title: Re: How do you restore confidence in this economy?
Post by: Jenna on February 13, 2009, 09:34:17 PM
Hi Robin, I'm very glad that you follow some of the commentators such as O'Reilly.  It's always interesting listening to another persons point of view on this topic. The latest news, is the stimulus plans looks like it will be passed and it might be signed by the president next week. 

I suppose many people are concerned that Government is creating a huge stimulus package that people such as myself will be paying for it.  It's a lot of money and when you're dealing with big figures, you want a guarantee that the program will work.


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 14, 2009, 01:28:26 PM
I completely understand that you want a guarantee that this programme will work. That's the problem in that most people do and that's something they just can't give. Politically speaking I'm a liberal with a capital "L" but all I really watch is Fox news. I hate watching news shows that simply tell me what I already think I'd much rather be challenged. I never miss an episode of The Factor and I used to LOVE Hannity & Colmes but now Colmes has gone Hannity by himself is a little hard to take. I usually watch that till I get so mad I have to switch it off. It usually takes around twelve minutes or less  ::).


Title: Re: How do you restore confidence in this economy?
Post by: lava on February 16, 2009, 05:09:57 PM
I watch some those programs too.  I enjoy watching Hannity.  He has some interesting comments on the stimulus package and Oboma.  Along with Hannity, I watch Bill O'Reilly.  Basically, I'll watch anything that talks about the news or current events. 

Hey does anybody watch Rush Limbaugh? Actually I listen to him on the radio quite often.  Some people hat him and others like him.  He adds an interesting twist to the economy.


Title: Re: How do you restore confidence in this economy?
Post by: Drake on February 16, 2009, 05:39:14 PM
I heard they passed the stimulus package too.  In my opinion that's a lot of money!!!  It will never be repaid in my life time.  I think the high price tag is what makes people uneasy about passing the bill and if it doesn't work, it will be a very costly mistake. 

In addition, people are concerned that we are becoming a socialized society.  Government has a say in everything we do and passing this stimulus package will add to it.


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 17, 2009, 01:54:47 PM
We don't get Rush over here in the UK. Though I'm sure you can listen to his show online. Recently he said that he wanted Obama to fail. Obama then said Republicans who are considering a new era of bi-partisanship should not listen to Rush, followed by Hannity and many, many Republicans saying that Obama is turning on Rush. Hannity actually asked the question, what has made Obama turn on Rush like this. I think if a left leaning talk radio host (of which there aren't too many) said they wanted Bush to fail eight years ago they would have been lynched as un patriotic. Come to think of it many possibly did say that but still. I like O Reilly because although he has his opinions (which may not be "spin" but they certainly are his opinions) he tells it pretty much like it is. The stimulus plan has no earmarks, no pork and O Reilly said that.

Since I like people that I disagree with so much I probably should see if I can listen to a bit of Rush online. Bill Clinton said recently that absurd as some of his opinions were (probably referring to him hoping Obama fails) that he is quite entertaining.


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 17, 2009, 05:48:09 PM
Surely if aliens were looking at the world from afar - which they might be doing - and viewed this as socialism vs capitalism then capitalism has failed. Folks might fear socialism is returning - whatever that is exactly ??? - but if the capitalist society cannot keep it's head above water without money from the Governments then it seems to me that it has failed 100%.


Title: Re: How do you restore confidence in this economy?
Post by: Drake on February 17, 2009, 08:48:02 PM
Hi Robin, politics is a dirty business.  I don't recall hearing Hannity say, "The stimulus plan has no earmarks, no pork"  I listen to Hannity quite often and he seems to question the stimulus package and is very pessimistic about it working. 

The bottom line is this, America needs government's help to fix the economy.  Rather than having a stimulus package, a better solutions could be:

1.  Big tax incentives for home buyers to “jump-start” the economy.

2.  Home owners should be eligible to refinance for a new, 30-year fixed-rate mortgage rate

3.  Develop more programs to help families under threat of home foreclosure.


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 18, 2009, 11:19:14 AM
Hey Drake. It was O Reilly that said it contains no earmarks or pork. Hannity (as I'm sure you know if you listen to him) has been all over it claiming it to be full of pork. I think strictly speaking it doesn't contain any. Hannity's new definition of pork barrel spending seems to be, a Democratic congressman possibly suggested that roads in his or her district are terrible and need repair. OK so that area will get a few billion for road repair and offer new jobs for a certain amount of time. I don't think that really is pork. I may be wrong in my definition and/or thought. I know Politicians will say anything but Obama seems very passionate in his "this bill contains no pork" comments and I feel if Bill O Reilly agrees it must be true. This is the "no spin guy" sticking up for the "folks" after all. The only people I've heard say it's full of pork are Hannity, Rush, Rove and their ilk. Either way I guess it's now been signed into legislation so time will tell if the US economy is affected in the ways they hope. Don't forget Joe (Gaffmeister) Biden said there's still a 30% chance they could fail even if they do exactly what they feel is right. Difficult times. Though I think that they three points you mentioned are all in some large or small way within this package. I know Obama is making a speech sometime soon (it may have happened already) about foreclosures and helping people to avoid that. I know it's around a third to a half tax cuts. Again, time will tell.


Title: Re: How do you restore confidence in this economy?
Post by: Drake on February 18, 2009, 10:46:03 PM
The problem with fixing the roads, it's only a temporary job.  Once the roads are fixed, then what? People will be out of work.

I am favor the idea of creating alternative energy, which is in the plan.  We are creating a whole new industry with permanent jobs that will last a long time.


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 19, 2009, 09:53:11 AM
I see the point many are making about the roads thing. The same with the bridges thing or the re-paving of the national mall that came up here a few days ago. I don't know...I guess the roads will get fixed and there will be a few years work there which is better than none. I don't know what will happen further down the road (accidental pun there) but maybe they will be able to continue funding those kinds of things?

The renewable energy projects I agree are excellent. It seems Obama is taking his "getting the US off it's foreign oil dependency" promise seriously.


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 19, 2009, 12:50:13 PM
I heard battery cars have been ready for years but top bosses in the oil business have somehow blocked there research and release. Is this true does anybody know?


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 20, 2009, 01:38:41 PM
I don't know if that's true but it wouldn't surprise me. Why would a multi billion pound industry allow something to be developed that would basically kill the multi billion pound industry in it's tracks?


Title: Re: How do you restore confidence in this economy?
Post by: Coultrane on February 20, 2009, 11:21:19 PM
There is so much corruption going on in big businesses.  The auto makers should have been building cars that are energy efficient, not dependent on gas, and doesn't create harmful toxins in our environment.  It wasn't until government stepped in that they were forced to change the way they build cars.  It's a shame.


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 22, 2009, 02:41:13 PM
I agree. And there's so much lobbying in Washington (and I know the auto makers throw (or have thrown) so much money that way. It's obviously worked till now. Let's hope change really does come to Washington as has been promised.


Title: Re: How do you restore confidence in this economy?
Post by: lava on February 22, 2009, 05:26:34 PM
I think the automakers have to make some deep cuts in order to stay in business, but it's the labor unions who are making it difficult.  They refuse to take a pay cut and reduce their benefits package.  If they don't budge, the automakers will never make a profit and continue to operate with a loss.


Title: Re: How do you restore confidence in this economy?
Post by: Spinner on February 22, 2009, 05:51:50 PM
I think the automakers should go bankrupt.  How many times can you bail out the automakers?  If they aren't making a profit and continue to ask for money, let them go under.  China kept bailing out their corporations in 1999 and it never worked out.  Today their stock market is still shaky.  We should learn from their mistakes and let the big automakers go bankrupt.  It's the only solution.


Title: Re: How do you restore confidence in this economy?
Post by: Betty on February 23, 2009, 05:05:22 PM
Yes, recall back in the 1990's China was facing similar problems in their economy and they kept giving money to help the big companies.  It never worked.  It took ten years till their economy turned around. 

I think the American politicians are scared to let any of the big companies fail.  If they fail, more people will be out of a job and the economy could tank.  It's a risky decision and the American people don't want to see any more unemployment. 


Title: Re: How do you restore confidence in this economy?
Post by: Bob on February 24, 2009, 11:24:12 AM
China must be doing better now as they own America don't they?


Title: Re: How do you restore confidence in this economy?
Post by: Robin Tetley on February 24, 2009, 03:11:29 PM
I didn't know China had financial problem in the 1990's. I know Japan had what is now referred to as "the lost decade" but I always assumed China has always been a very rich nation.