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Old 10-27-2010, 01:49 PM
 
Location: 3rd Rock fts
750 posts, read 1,007,764 times
Reputation: 304

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Quote:
Originally Posted by CosmicWizard View Post
The Fix

There recently was an article in the St. Petersburg , Fl. Times. The Business Section asked readers for ideas on: "How Would You Fix the Economy?" I think this guy nailed it!
Dear Mr. President,

Please find below my suggestion for fixing America 's economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the "Patriotic Retirement Plan":

There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - Unemployment fixed.

2) They MUST buy a new AMERICAN Car. Forty million cars ordered - Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

It can't get any easier than that!!

P.S. If more money is needed, have all members in Congress pay their taxes...

Mr. President, while you're at it, make Congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!
This has been done already. The baby boomer was suppose to retire @ age 50 with 1+million--401k plans.

They bought a house or 2--with Debt

They bought 1 or 2 cars--with Debt

They bought a money-enhancing education--with Debt

They already got a million dollar handout--access to DEBT

I'm with Mircea, moral hazard on the highest level!
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Old 10-27-2010, 02:17 PM
 
Location: 3rd Rock fts
750 posts, read 1,007,764 times
Reputation: 304
Quote:
Originally Posted by user_id View Post
Or....you could simply do what he know worked in the past:

1.) Increase aggregate demand via government stimulus.

This would cost significantly less and actually result in useful things, of course we don't do it because Americans don't understand basic economics.
How much aggregate demand do we need? What about a guy like me who doesn't want to jump on the band wagon of a spendthrift lifestyle. Are you going to label me a hazard to the Economy AGAIN?!

We should have been doing modern rail & other oil-weaning technologies with the 1st stimulus. I just wish there was a way to guarantee it gets done with the 2nd stimulus.
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Old 10-27-2010, 02:29 PM
 
Location: Wherabouts Unknown!
7,805 posts, read 17,600,773 times
Reputation: 9435
DSOs wrote: ( my comments in purple....speaking on my behalf )
This has been done already. The baby boomer was suppose to retire @ age 50 with 1+million--401k plans. Currently at age 61 I'm still happily employed. Never did I have a desire to retire at age 50, nor have I ever felt entitled to retire at ANY age.

They bought a house or 2--with Debt. yes, my wife and I have a mortgage that eats up about 15% of our combined incomes.

They bought 1 or 2 cars--with Debt My 13 year old car with just 70K miles has been paid off for 6 years

They bought a money-enhancing education--with Debt My wife with masters degree, myself..self taught programmer, and our 30 year old daughter with a masters degree never went into debt with regard to education...not one single penny. It was always pay as you go for us.

They already got a million dollar handout--access to DEBT. The only handout I ever got was 6 months of unemployment after serving a stint in the Air Force. The government owed me BIG time for that! Not having to deal with the stress of a mandatory draft, is a better deal than ANY handout form the government. Assuming that you grew up after the mandatory draft, you got it pretty good! If you did serve in the military, my hat is off to you.

I'm with Mircea, moral hazard on the highest level! I prefer to leave morality to the religious zealots!
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Old 10-27-2010, 10:06 PM
 
Location: Charlotte, NC
2,193 posts, read 4,693,547 times
Reputation: 1075
Quote:
Originally Posted by user_id View Post
Or....you could simply do what he know worked in the past:

1.) Increase aggregate demand via government stimulus.

This would cost significantly less and actually result in useful things, of course we don't do it because Americans don't understand basic economics.
How much stimulus?
We probably could have jsut taken the 3 trillion wasted and divided that by 120 million households and each household would get 25K. I think that would have stimulated the economy!
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Old 10-28-2010, 11:11 AM
 
Location: Orlando, Florida
43,856 posts, read 46,390,621 times
Reputation: 58669
Quote:
Originally Posted by CosmicWizard View Post
The Fix

There recently was an article in the St. Petersburg , Fl. Times. The Business Section asked readers for ideas on: "How Would You Fix the Economy?" I think this guy nailed it!
Dear Mr. President,

Please find below my suggestion for fixing America 's economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the "Patriotic Retirement Plan":

There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - Unemployment fixed.

2) They MUST buy a new AMERICAN Car. Forty million cars ordered - Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

It can't get any easier than that!!

P.S. If more money is needed, have all members in Congress pay their taxes...

Mr. President, while you're at it, make Congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!
I'm in my early 50's.
I don't really want to go to work today...or any other day.
I need a new car and always have bought American.
I would like a house/condo to retire in.
I LOVE this plan!!
I will vote for ANYONE who even slightly suggests it as a possibility.

Option 2: With the $25,000 bulk stimulus cash will work for me to.
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Old 10-29-2010, 05:49 PM
 
3,465 posts, read 3,367,611 times
Reputation: 1551
Quote:
Originally Posted by CosmicWizard View Post
The Fix

There recently was an article in the St. Petersburg , Fl. Times. The Business Section asked readers for ideas on: "How Would You Fix the Economy?" I think this guy nailed it!
Dear Mr. President,

Please find below my suggestion for fixing America 's economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.

You can call it the "Patriotic Retirement Plan":

There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:

1) They MUST retire. Forty million job openings - Unemployment fixed.

2) They MUST buy a new AMERICAN Car. Forty million cars ordered - Auto Industry fixed.

3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.

It can't get any easier than that!!

P.S. If more money is needed, have all members in Congress pay their taxes...

Mr. President, while you're at it, make Congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!
This guy is a moron.

The problem we are facing is too much government spending and we don't need more of it. We have been spending like drunken sailors for the last 30 years there is basically no correction.

1987 was suppose to be a correction, then Fed (federal reserve) pumping cheap money into the market, market move up, and we start spending.

1994, Long Term Capital Manager that made make a big bet and loss, and we need a correction. The Fed came to the "rescue" us again by pumping cheap money into the market place again, which lead to the dot com bubble

2000, dot come bubble popped, against Fed came to the rescue, by pumping more cheap money into the market, except this it, it didn't go into equity, it went into Real Estate.

2007, bailed out bubble, all Fed is doing is bailing out everyone who cannot pay tax. Since if you are able to pay tax, you don't qualify for the bail out. So more cheap money.

As you can see, we haven't have a correction for a long time. No wonder everything is so expensive and so unaffordable. For one thing, our money is buying a lot less because depreciation or inflation whatever you want to call. I remembered $20 used to buy a lot 20 years ago, now $100 can't even buy what $20 can buy 20 years ago.
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Old 10-30-2010, 09:40 AM
 
871 posts, read 1,507,755 times
Reputation: 450
americans need to buy american made and shop locally. that and start producing your own goods for domestic consumption.
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Old 10-30-2010, 10:16 AM
 
Location: Victoria TX
42,661 posts, read 78,722,512 times
Reputation: 36343
Don't give the government ideas.

The same principle would have worked in Iraq. There are 5-million households in Iraq. We could have given each Iraqi head-of-household $400,000, and then implant US marketing strategists and the US media giants, distributing Marlboros and Girls Gone Wild tapes and bright yellow Hummers, and we'd get most of it back. Same initial outlay as the $2-trillion Iraq war, no bitterness, no bad memories, no money down the crapper.
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Old 10-30-2010, 09:29 PM
 
48,508 posts, read 88,801,526 times
Reputation: 18192
If they did as the OP suggest he would be working at mcDonald wages with the same as middle income now and have a huge tax burden to also pay. I would guess he knows that the goveranmnt can't even pay for what they are going now and the interest is like credit card interest long term.
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Old 10-31-2010, 02:41 AM
 
28,815 posts, read 31,490,805 times
Reputation: 30010
Quote:
Originally Posted by CosmicWizard View Post
Well it's still pretty expensive:
40,000,000 people * $1,000,000 = $40,000,000,000,000.
That's 40 trillion bucks if I did the math correctly!

BUT....we would get more bang for the buck if the $$$ was spent like this, rather than giving gifts to corporate entities to whom a million bucks is chump change. Additionally, SS & Medicare would stand a decent chance of getting fixed, and we'd make the tax cheaters in congress pay up.

BUT...a plan along these lines would benefit we-the-people, so it ain't never gonna happen as they say in some circles.
40 Trillion is many times larger than the actual size of our economy. To give that much away essentially amounts to massive money printing on an unheard of scale and would result in hyperinflation. It's basically what they've done in Latin America for most of the last 50 years. It hasn't worked out too well for those countries, as they're all 3rd World. (I've been to South America 4x, I can vouch for the fact the standard of living is much lower there). Germany's Weimar Republic also did similar stuff in the 1920s. Hitler came to power in the wake of that crisis.

And many of those Latin American countries, like Brazil & Chile stopped running the printing presses and started getting their sh*t together (financially speaking). And guess what? Their government debts are going down. Their economies are growing faster than in the "rich" developed countries. Of course, it didn't happen overnight. Chile started getting it together in the 1980s. Brazil in the 1990s. It takes A DECADE OR MORE to see the results. Unfortunately, Americans don't wanna hear that, and we will continue to suffer as long as we remain hooked on immediate results/gratification.

And quite frankly, even if it didn't kill our economy, most people who get $1,000,000 squander it anyway. It's been proven over and over again with lottery jackpot winners.
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