Bailout or no Bailout

[Zero]

Zero, I would be interested to hear your alternative to the bail out and the centrally administered currency system/interest rates, bankruptcy protection, etc.

The crisis is behind us - my fingers are bleeding from days of doing this elsewhere :lol:

Here's a book to read, though. I'm a fan of the Austrian School, myself.

Man, Economy, and State
Murray Rothbard

A powerful argument against government intervention in the markets and solutions to the sorts of problems you bring up.

[Xobeloot]

Edit: Following Rob's reality check (and my inability to pay attention to numbers) I think this guy should spend more time on his division skills and less on his economic planning skills. Still a fun read for the gullable and mathematically challenged alike :lol:

The Birk Economic Recovery PLan




Hi Pals,


I'm against the $85,000,000,000.00 bailout of AIG.


Instead, I'm in favor of giving $85,000,000,000 to America in a 'We Deserve It Dividend'.


To make the math simple, let's assume there are 200,000,000 bon-a-fide U.S. Citizens 18+.


Our population is about 301,000,000 +/- counting every man, woman and child. So 200,000,000 might be a fair stab at adults 18 and up..


So divide 200 million adults 18+ into $85 billon that equals $425,000.00.


My plan is to give $425,000 to every person 18+ as a 'We Deserve It Dividend'.


Of course, it would NOT be tax free. So let's assume a tax rate of 30%.


Every individual 18+ has to pay $127,500.00 in taxes. That sends $25,500,000,000 right back to Uncle Sam.


But it means that every adult 18+ has $297,500.00 in their pocket. A husband and wife has $595,000.00.


What would you do with $297,500.00 to $595,000.00 in your family?
Pay off your mortgage - housing crisis solved.
Repay college loans - what a great boost to new grads
Put away money for college - it'll be there
Save in a bank - create money to loan to entrepreneurs.
Buy a new car - create jobs
Invest in the market - capital drives growth
Pay for your parent's medical insurance - health care improves
Enable Deadbeat Dads to come clean - or else


Remember this is for every adult U S Citizen 18+ including the folks who lost their jobs at Lehman Brothers and every other company that is cutting back. And of course, for those serving in our Armed Forces.


If we're going to re-distribute wealth let's really do it...instead of trickling out a puny $1000.00 ( "vote buy" ) economic incentive that is being proposed by one of our candidates for President.


If we're going to do an $85 billion bailout, let's bail out every adult U S Citizen 18+!


As for AIG - liquidate it.
Sell off its parts.
Let American General go back to being American General.
Sell off the real estate.
Let the private sector bargain hunters cut it up and clean it up.


Here's my rationale. We deserve it and AIG doesn't.


Sure it's a crazy idea that can "never work."


But can you imagine the Coast-To-Coast Block Party!


How do you spell Economic Boom?


I trust my fellow adult Americans to know how to use the $85 Billion 'We Deserve It Dividend' more than I do the geniuses at AIG or in Washington DC.


And remember, The Birk plan only really costs $59.5 Billion because $25.5 Billion is returned instantly in taxes to Uncle Sam.


Ahhh...I feel so much better getting that off my chest.


Kindest personal regards,


Birk


T. J. Birkenmeier, A Creative Guy & Citizen of the Republic

[RobsanX]

^^^ I think he's off by about three zeroes... $425.00 each...

[Xobeloot]

I never even thought to check the math ops: :lol:

[bakerbarber]

ADD THIS UP

http://www.nerve.com/CS/blogs/scanne...lin-photo.aspx

[bmwgsa]

I'm not picky - send me the $425 - I'll order more snus!

[Grim]

I need a bail out for all the money i spent on snus.

I spent too much and was over expectant and now my pockets hurt and the Grim Economy and Household is in turmoil.

Please Bush, Bail me out.

[Grim]

One more thing.

Im sure out sourcing our industries to foreign countries thanks to NAFTA signed by Bill Clinton didnt help the economy.

3 people in my family have lost jobs due to factories moving to china or mexico.

2 of them are my Grandparents who have worked soooo hard their whole lives and now at the age of 65 both still have to work fulltime and their retirements have been pushed back to when they hit 70.

Im praying to god they do because they deserve to live a life without stress while they are both still healthy.

[Premium Parrots]

Well I checked the math on that 2 weeks ago when I got that email. And it was wrong. When I posted the 70billion dollar figures I did the math also. And its $3500. I used the actual amount that they want to use now, not the 85 billion. So instead of $4250 is actually $3500. works for me.



who cares.........get the vaseline.........cuz no matter what they do we are gonna get ****ed

[sentry103]

I'm with zero on this one. Let it correct itself. Sure, some of us will go through a rough patch, but the corporate megarich will know that the people have spoken and he better watch his ass.

[Jason]

As already mentioned, this is already dicking over the worldwide economy...

http://www.msnbc.msn.com/id/26962762

As if everyone needs another reason to hate us. I don't think any sort of bailout is going to help; it's like damage control for a ship that's already half-sunk.

[RobsanX]

As already mentioned, this is already dicking over the worldwide economy...

http://www.msnbc.msn.com/id/26962762

As if everyone needs another reason to hate us. I don't think any sort of bailout is going to help; it's like damage control for a ship that's already half-sunk.

I heard a different sinking analogy on NPR this morning... The man said it's like if you had a bunch of boats together and three of them were sinking. The bailout would be like blowing up the dam and draining the lake to save those three boats... :lol:

[bmwgsa]

Wouldn't it be nice if all the other countries in the world that we've sent all sorts of $$ to to help them out actually PAID IT ALL BACK!

I'm sure that would help a bit......

[Premium Parrots]

Wouldn't it be nice if all the other countries in the world that we've sent all sorts of $$ to to help them out actually PAID IT ALL BACK!

I'm sure that would help a bit......

well that or if Gates, Oprah and Trumph would step up to the plate and drop a few coins in the coffer.

[Zero]

Wouldn't it be nice if all the other countries in the world that we've sent all sorts of $$ to to help them out actually PAID IT ALL BACK!

I'm sure that would help a bit......

Well, in terms of economics, I'm not sure that the US has ever given away money to anyone, at least not on any scale comparable to this collapse. Generally US aid is given as loan and infrastructure contracts which economically enslave second and third world nations. The money is "given" away, but it is enforced that such money is paid to US contractors, so the money all comes back eventually. Empire is empire - the economics don't really change from instance to instance. The idea that the US benevolently helps out other countries in any substantial form is nothing more than rhetoric - there's not much substance to the claim.