Recession Imminent

[CurbsideProphet]

I think current system is still quite flawed, the money do not flow to the most needed place. The banks sitting at the top. They can get 0 interest loans, but that does not really help the economy, the mass demand typically come from the consumer. If every consumer at the bottom of the society can get 0 interest loans, the economy will be back on track right away.

I doubt it.  I'm a firm believer that a financially responsible person will be responsible no matter the amount of money they have and vice versa.  Giving a financially irresponsible person more money only compounds the problem.  There's a reason why so many lottery winners and sports athletes go bankrupt.  The amount of money they have doesn't matter, they're financially unable to manage any amount and a fool and their money eventually part ways.

The average american is swallowed up in debt.  Not just a mortgage on a home they can't afford but credit cards and overpriced gas guzzlers.  Our savings rate is pathetic.  Giving them free leverage would only compound the problem.

I'm not saying the banks should get a free pass or that they are not a major part of the problem but more free handouts is not the way to curb excessive spending.

 

[1714656656]

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[cypherdoc]

I think current system is still quite flawed, the money do not flow to the most needed place. The banks sitting at the top. They can get 0 interest loans, but that does not really help the economy, the mass demand typically come from the consumer. If every consumer at the bottom of the society can get 0 interest loans, the economy will be back on track right away.

I doubt it.  I'm a firm believer that a financially responsible person will be responsible no matter the amount of money they have and vice versa.  Giving a financially irresponsible person more money only compounds the problem.  There's a reason why so many lottery winners and sports athletes go bankrupt.  The amount of money they have doesn't matter, they're financially unable to manage any amount and a fool and their money eventually part ways.

The average american is swallowed up in debt.  Not just a mortgage on a home they can't afford but credit cards and overpriced gas guzzlers.  Our savings rate is pathetic.  Giving them free leverage would only compound the problem.

I'm not saying the banks should get a free pass or that they are not a major part of the problem but more free handouts is not the way to curb excessive spending.

 

+1

johnyj loves the idea of free handouts.  he loves the idea that unemployment is high which means more welfare which is GOOD!  give me more, give me more.  i don't have to work.

[alan2here]

give me more, give me more.  i don't have to work.

Technological redundancy is more of an issue now than ever before, and will speed up into the future. How to continue?

Everyone works fewer hours
More people employed in sports
More people employed in burocracy - hard in a ressesion
More riots destroying infrastructure and giving people jobs rebuilding - bad, but currently by design in everyone's interest, not just the big players.

The concentration of power reasoning is good. However benifits will pay more and more compared to work, maybe eventually allowing both at once, so there may not be that much of an issue.

100% jobs is good? or 100% jobs is the least efficient society possible? How about 100% of you'r time in education?

If I don't have to work but more do thats bad. If fewer are required to work then thats good.

We're currently in a jobs shortage at the moment, it would greatly help morale if those least enthusiastic about their chosen profession stopped working, there are many others eager to take their place, those not working can still make productive use of there time, even if it's something seemingly small on a large scale like seeing more of there children.

[johnyj]

I doubt it.  I'm a firm believer that a financially responsible person will be responsible no matter the amount of money they have and vice versa.  Giving a financially irresponsible person more money only compounds the problem.  There's a reason why so many lottery winners and sports athletes go bankrupt.  The amount of money they have doesn't matter, they're financially unable to manage any amount and a fool and their money eventually part ways.

The average american is swallowed up in debt.  Not just a mortgage on a home they can't afford but credit cards and overpriced gas guzzlers.  Our savings rate is pathetic.  Giving them free leverage would only compound the problem.

I'm not saying the banks should get a free pass or that they are not a major part of the problem but more free handouts is not the way to curb excessive spending.

A financially responsible employer will very willing to hire 5 chinese workers instead of 1 american worker since they cost much less. It is exactly this way of thinking put millions of americans jobless

If you are the central bank and money is just some digits in your account which you can add or remove at will, and you know these generated digits will have various impact in economy, then how do you assign those digits so that the society will get maximum benefit of it?

Money is just a driven power, what to drive is the question 

[johnyj]

Technological redundancy is more of an issue now than ever before, and will speed up into the future. How to continue?

Everyone works fewer hours
More people employed in sports
More people employed in burocracy - hard in a ressesion
More riots destroying infrastructure and giving people jobs rebuilding - bad, but currently by design in everyone's interest, not just the big players.

The concentration of power reasoning is good. However benifits will pay more and more compared to work, maybe eventually allowing both at once, so there may not be that much of an issue.

100% jobs is good? or 100% jobs is the least efficient society possible? How about 100% of you'r time in education?

If I don't have to work but more do thats bad. If fewer are required to work then thats good.

We're currently in a jobs shortage at the moment, it would greatly help morale if those least enthusiastic about their chosen profession stopped working, there are many others eager to take their place, those not working can still make productive use of there time, even if it's something seemingly small on a large scale like seeing more of there children.

Good point, those not very enthusiastic workers should at least accumulate several years of savings before they quite the job, but I think they have lost such an alternative, because of their debt of the house. Another issue is that many people can not be replaced easily, since they have accumulated so much knowledge through many years of working and continuous learning

100 years ago, in such a overproduction situation, war is very good at eliminating redundant human and infrastructure. If people do not want to take a violent approach, then I guess the financial system will have to take a huge reform, pay per work model will disappear in some area (it's already happening in open source community)