Monday, November 8, 2010
Of what use were the government issued bailouts and stimuli?
Is your life better - or do you have even more debt with even worse prospects?
Three TRILLION dollars?
Why? For what?
The same money could have been spent through credit unions (The debt for each region would have been locally owned.) to pay off every Americans outstanding credit card debt ($980 billion), AND every Americans outstanding student loan debt ($960 billion), while still having enough to give each state 20 billion dollars to settle their debts.
The remaining 60 or so billion dollars could have been used to create start-ups (High Efficiency Power Grids, a chain of Hydrogen filling stations for Hydrogen powered auto mobiles, High Speed Rail System, whatever...) which could have issued stock directly to tax paying citizens which could then be traded to others.
Each person would then be responsible for his own wealth and any complaints would then have been directed towards himself (Instead of at Obama).
Each productive working person would then benefit from a jubilee-type freedom of debt.
Sure, the economy will probably fail and the world will probably suffer from it - but by focusing on stability instead of growth, you don't have to be one of the proles begging for help.