Suppose you look at the present economic collapse
as a re-setting of the economic point.
Inflation, stagflation, re-flation, deflation,
full employment, unemployment.
Credit markets, over extending, failures, bad policy, bad judgement and on and on......until,
All of a sudden, it's broken.
As already noted the economy of any state has a psychology all it's own.
When it's out of sync, then it should be treated as such.
But every generation or so, as Darwin has already studied, "selection" occurs, so that even as it is ongoing it's noticed. This time at least.
And that might be what's happening now.
There's a falling out. The so called "strong"
survive. There are those that are ok and those that won't be.
Ugly to think of in human terms, but intellectually necessary in order to make it easier on the whole.
So, the idea then becomes "How to adjust".
Although difficutlt, like the proverbial "pill to swallow" we have to take our own medicine and then the patient will overcome it's symptons.
How to go about it?
Make a plan. Stick with it. Change. Adjust. Adapt.
And survive and start with a new game plan.
If necessary, make those plans for everything one might need this lifetime.

Regards

dePaul Consiglio

NYMetroCityState US

http://iconsiglio.blogspot.com
http://www.iconsiglio.com

Suppose you look at the present economic collapse
as a re-setting of the economic point.
Inflation, stagflation, re-flation, deflation,
full employment, unemployment.
Credit markets, over extending, failures, bad policy, bad judgement and on and on......until,
All of a sudden, it's broken.
As already noted the economy of any state has a psychology all it's own.
When it's out of sync, then it should be treated as such.
But every generation or so, as Darwin has already studied, "selection" occurs, so that even as it is ongoing it's noticed. This time at least.
And that might be what's happening now.
There's a falling out. The so called "strong"
survive. There are those that are ok and those that won't be.
Ugly to think of in human terms, but intellectually necessary in order to make it easier on the whole.
So, the idea then becomes "How to adjust".
Although difficutlt, like the proverbial "pill to swallow" we have to take our own medicine and then the patient will overcome it's symptons.
How to go about it?
Make a plan. Stick with it. Change. Adjust. Adapt.
And survive and start with a new game plan.
If necessary, make those plans for everything one might need this lifetime.

Regards

dePaul Consiglio

NYMetroCityState US

http://iconsiglio.blogspot.com
http://www.iconsiglio.com

He's wrong. Both the people and the free market are to blame. People should have been smart enough not to get into these rotten loans... but you know... the market can't just put anything it wants on the market... it has to be regulated to some degree. Corporations are NOT ethical - never have been - they know no boundaries... Sometimes someone has to step in and protect consumers...

I couldn't have said it better, Mr. Montaner.

Amen.

Up is down to this guy. Black is white. The government is responsible for market excesses. The government is guilty of not protecting the market from the trickery... of the market.

The market has spoken. What it said was: The market can't function without government regulation. Lots of it. And the reason there wasn't enough oversight was that market players were lobbying for years for less government oversight, arguing that the market didn't need it.

Now those same players are begging for a taxpayer bailout. They shouldn't get it.

There is only one solution to this problem and that is to break it up into smaller individual blocks.

first and foremost PROP UP those who are currently struggling with their present mortgages. This is required so that NO NEW BAD DEBT can accumulate on top of the already existing debt. Only then can we begin to resolve the issue.
It's not such a bad deal,

First help them with their unpaid mortgage bills and then have a special Judge or commitee re-finance their loans according to the present value of the house.
This would represent a smaller loss to the banks rather than a complete mortgage foreclosure so it's a good bet to say any bank would accept it.

The Second step: Any debt, owed or accrued is written off as a loss.

The Third step: Any bank or other institution that feels their losses are too hard to handle can then apply to the Government for some kind of assistance or aid package that would include a total audit of their assets, etc. An immediate cash inflow may be made by the government in order to keep the company or institution afloat.
In this manner the $700 Billion will surely save the economy but only time and giant INFUSIONS of capital will heal the wounds; an audit of all those involved would eventualy help catch whoever is behind all this "Debauchery of Citizens Trust".

But although this would help solve the immediate crisis:

Unless you create more Jobs by a massive influx of money into your Manufacturing, Technology, Construction and other related HIGH EMPLOYMENT Industries you will surely dip lower than the lowest of Banana Republics.

Your most immediate problem however is not so much your money problems but your national identity. Americans love to call themselves "The leaders of the Free World" but in this crisis they have made the most terrible of leadership mistakes.

You have shown signs to those who follow you that in this crisis you don't know what to do. Leaders don't do that, Leaders ALWAYS know how to get out of any situation and they never say otherwise.

There is only one solution to this problem and that is to break it up into smaller individual blocks.

first and foremost PROP UP those who are currently struggling with their present mortgages. This is required so that NO NEW BAD DEBT can accumulate on top of the already existing debt. Only then can we begin to resolve the issue.
It's not such a bad deal,

First help them with their unpaid mortgage bills and then have a special Judge or commitee re-finance their loans according to the present value of the house.
This would represent a smaller loss to the banks rather than a complete mortgage foreclosure so it's a good bet to say any bank would accept it.

The Second step: Any debt, owed or accrued is written off as a loss.

The Third step: Any bank or other institution that feels their losses are too hard to handle can then apply to the Government for some kind of assistance or aid package that would include a total audit of their assets, etc. An immediate cash inflow may be made by the government in order to keep the company or institution afloat.
In this manner the $700 Billion will surely save the economy but only time and giant INFUSIONS of capital will heal the wounds; an audit of all those involved would eventualy help catch whoever is behind all this "Debauchery of Citizens Trust".

But although this would help solve the immediate crisis:

Unless you create more Jobs by a massive influx of money into your Manufacturing, Technology, Construction and other related HIGH EMPLOYMENT Industries you will surely dip lower than the lowest of Banana Republics.

Your most immediate problem however is not so much your money problems but your national identity. Americans love to call themselves "The leaders of the Free World" but in this crisis they have made the most terrible of leadership mistakes.

You have shown signs to those who follow you that in this crisis you don't know what to do. Leaders don't do that, Leaders ALWAYS know how to get out of any situation and they never say otherwise.