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Posts Tagged ‘economy’

So the US debt is getting quite out of control, I think we can all agree. But I’m wondering how we get out of it? I’ve heard cutting spending, raising taxes, intentional inflation (though I’ve heard our loans are adjusted for inflation). But how do we do this when our politicians are scared to raise taxes (I know I’m against it) and also too scared to drastically cut their spending? Our debt just keeps getting worse and worse! That’s why our generation is told not to get credit cards and get into debt! Because we end up paying three times the amount we received. So if we don’t do something about it, it’ll just end up being more and more, perhaps an amount we literally CANNOT handle.

So my friends can you tell me your ideas?
I am not biased and I’d love to hear all opinions, so please don’t be upset with anything I’ve said, because I’d love to hear any opinion you may have.
I’d say I have to agree with the fact that the poor should not be paid for, though I understand that sometimes it’s just impossible for people to get the money they need, so it’s understandable to provide a little unemployment money till THEY take the initiative to find a job or move to find a job. But I have seen this in my personal experience, "If I make another hundred dollars, or get another job, my 0 a month food card will be cancelled and I’ll be left with LESS money!" So if they work harder they’re punished, less hard and they’re rewarded, it’s situations like this that hurt the economy. So if the poor were cut, taxes on the rich could be cut a little more, and the poor would have to get jobs perhaps that the rich could create, because of the money they’ve been allowed to keep. I don’t care what people say, the rich who provide jobs. They’re taxed something like 70%? Imagine if the middle class was taxed that. How would anyone open a business? So it might hinder the rich too.

Learn about debt consolidation with Money Made Simple

Since we are the world’s largest economy, and the mammoth of debtor nations, what would happen if we defaulted on paying off our creditors?

Sure, we’d lose access to our credit, but the entire global capitalist economic system would collapse with it. Countless creditors in places like Europe and China would be then unable to pay off "their" loans domestically, and the contagion would rapidly wipe out their economies too.

So isn’t the U.S. in essence "too big to fail"?
We could then force our creditors to restructure our national debts just by the sheer size of our economy, right?

I bought a house with an ex a couple years ago who still pays part of the mortgage but doesn’t live in the home with me anymore. I lost my job and having trouble finding work. I’ve run out of savings. i put all of the down payment from my retirement and took all of the financial risk. On top of that consistently paid 55 to 60% of the monthly payments for two years because I was the one who made more money. Now I am barely making ends meet and having some looming tax debt. The least I can do is hang on to the house as investment after hopefully riding out this bad economy one day. My ex had been unemployed for a long time and now that he has a job (and living rent free with family) is saying he would prefer to sell the house instead of working with me even though I fully supported him while he was unemployed. We both have good credit and don’t want to ruin it. But I feel like I’ll be damned if I am going to lose my investment and my place to live. If I don’t find a job soon, I am starting to wonder if I might consider bankruptcy. How would this affect my ex? We were never married but are both on the title/deed of the home.
(*also, right now the value of the home is just slightly less than what is owed on it)

Link From: www.newzzcafe.com College students aren’t just carrying massive text books around campus, they also have the burden of debt. National numbers show us student loan debt is now greater than credit card debt. University of Utah senior Cody Myers puts it pretty simply. For him “it’s just a way of getting through college.” It’s a touchy situation, bury yourself in debt for a college degree. New numbers show it’s a go to solution. Student loans have grown past other debts. Here are the numbers 8 Billion in revolving credit (including credit cards). Compare that to student loans, totaling 0 Billion.

How can you best handle the anxiety of financial troubles? Tune in to learn how from a surprising yet wise source.

As is nakedly evident, the speech’s central argument, that the 72-year-old McCain will magically morph into a powerful change agent as president, is a non sequitur. In his 26 years in Washington, most of it with a Republican in the White House and roughly half of it with Republicans in charge of Congress, he was better at lecturing his party about reform than leading a reform movement. GOP corruption and governmental dysfunction only grew. So did his cynical flip-flops on the most destructive policies of the president who remained nameless Thursday night. (In the GOP, Bush love is now the second most popular love that dare not speak its name.) Even more fraudulent, if that’s possible, is the contrast between McCain’s platonic presentation of his personal code of honor and the man he has become. He always puts his country first, he told us: “I’ve been called a maverick.” If there was any doubt that that McCain has fled, confirmation arrived with his last-minute embrace of Sarah Palin. We still don’t know a lot about Palin except that she’s better at delivering a speech than McCain and that she defends her own pregnant daughter’s right to privacy even as she would have the government intrude to police the reproductive choices of all other women. Most of the rest of the biography supplied by her and the McCain camp is fiction. She didn’t say “no thanks” to the “Bridge to Nowhere” until after Congress had already abandoned it but given Alaska a blank check for 3 million in …

30 second television commerical for Prosper.com, America’s largest peer-topeer lending marketplace.

US issues trillion debt, supply to stabilize finance.yahoo.com AP source: Census worker hanged with ‘fed’ on body www.google.com Moody’s: Credit Card Trends Worsened in August www.nytimes.com The average American household has 29 in credit card debt, according to the Nilson Report, www.cnn.com For Some Women, Recession Means Having Few Children voices.washingtonpost.com Myspace.com/rkaigler Please support other channels that expose the truth. youtube.com youtube.com youtube.com youtube.com youtube.com youtube.com youtube.com youtube.com youtube.com youtube.com youtube.com

How does the fed finance at this level and what does it mean for the U.S. economy and the dollar?