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October 26, 2014, 02:51:28 AM
HireScores.com Recruitment ForumForum CommunityNews & Information (Moderator: Forum Management)How do you restore confidence in this economy?
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Author Topic: How do you restore confidence in this economy?  (Read 10273 times)
Jenna
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« 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?
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Timber
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« Reply #1 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?
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Robin Tetley
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« Reply #2 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?
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Bob
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« Reply #3 on: January 31, 2009, 02:49:36 PM »

Great idea. It would never happen of course.
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lava
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« Reply #4 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!
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Robin Tetley
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« Reply #5 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.
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Tomtom
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« Reply #6 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. 
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Robin Tetley
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« Reply #7 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?
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Bob
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« Reply #8 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?
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Robin Tetley
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« Reply #9 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.
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Coultrane
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« Reply #10 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?
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Robin Tetley
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« Reply #11 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?
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Bob
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« Reply #12 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.
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Jenna
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« Reply #13 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! 
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Robin Tetley
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« Reply #14 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.
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