I am not an economist but

Add a Comment

2 Comments

Comment by Robyn Miller on January 7, 2009 at 9:58pm

Hola Rick! In general, there's a part of me that says let it all fall apart, and it will all get put back together again, the hard way. But there'd be a lot of suffering for it. So, instead we act like we can't bail out the consumer because it would encourage bad behaviors, but we want to encourage those behaviors to continue with bank bailouts it seems. It makes no sense to me.
My dramatic rescue plan would be a retroactive federal tax suspension for 2008. No one could plan and remove formerly followed loopholes, the more you would have paid, the more you'll save. It's completely irresponsible, but it would definitely hit the middle class well ;) In other words, I'm no economist, and be glad I'm not the one in charge of fixing things! :D

Comment by Rick Stanger on January 2, 2009 at 11:27am

Hi Byn! As I live and breathe, you live and breathe. Long time no see/email, eh?
Anyway, I agree. Giving huge sums of taxpayer money to corporations who couldn't manage their OWN money just seems foolish. Of course, I'm not running for political office and need corporate donors to pony up for my campaign. I'm just sayin'...

And you are also right about people financing their lifestyle on credit. A very bad idea.
I have no credit card debt (nor any other debt, for that matter) and I intend on keeping it that way!
Want a new car? figure up how much of a payment you can afford, and then SAVE that amount each month until you can pay CASH for the car! You save yourself interest and you won't be a slave to the bank or finance company.

"Act your wage!" is good advice.

Rick