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Bailouts and such.
700,000,000,000 Dollars. I always get tripped up with the last set of 0’s, I seem to want to stop at Seven-Hundred Million. By the way, does anyone think it’s easier to type out “Seven Hundred Billion” than it is to type out “700,000,000,000″? Maybe I’ll go the slacktivist route and type 7 x 10^11, but that might not compute with everyone, so the eye popping $700,000,000,000 it is.
Oh, did I mention $700,000,000,000 yet?
I’m sure we could buy some universal health care for that… but we’ll move on.
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I’m not against the bailout, rather I am in favor of it. We need to do all that we can to ensure that we don’t end up in another depression, and the collapse of the credit industry would have a large chance of resulting in some form of depression or another.
We do need, however, to ensure that there are also provisions protecting the citizens from financial collapse. The citizens who have fallen into the predatory loan system are (for the most part) as at fault as the lenders who approved them for loans they could not repay, but they deserve the same amount of protections as the large firms who enabled them to screw themselves over.
We need a cap on the salaries of firm CEOs and presidents that are being bought out by this bailout. To continue to pay for shoddy management doesn’t help the issue at all. It would be like keeping a disaster of a president in the office for two terms, once you realize he’s a screwup, he should probably not be paid by the taxpayers for a second term. (Oh wait…)
Third, we need to look at overhauling the entirety of the credit industry. At some level I’m inclined to say credit is indeed necessary, but that may be due to my usage of CC’s and such. We need to educate citizens on responsible credit, and avoidance of credit if it’s possible. I say possible becuase I haven’t ever met anyone who was able to purchase their first home without a mortgage. In fact, I highly doubt I’ll ever be able to purchase a home without a mortgage.
Fourth, we need to realize that as bad as the situation here could get, we shouldn’t lower our giving to NPO’s like Kiva, Compassion International, or church giving, wherever you choose to funell your money to change the world. I know the gut reaction is to cut out giving because it’s the easiest thing to do (And doesn’t hurt you personally), but I would implore you do to so. C.S. There is far worse suffing goin on that we need to help alleiviate, and cutting of our charitable giving is not the way to go.
Just my thoughts, but hey, I’m a crazy liberal. I doubt you’ll see many similar ideals on a conservatives blog.
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5 Responses to “Bailouts and such.”
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Great thoughts about the current state of the economy. I know that it is something that really concerns me as well.
I also appreciate your mention of Compassion International. I did take notice that you did not link to Compassion (http://www.compassion.com) . Would you mind doing so?
Also, I am not sure if you are familiar with Compassion’s blog or not, but they provide an insider’s look to all things Compassion. You can find out more by visiting http://blog.compassion.com .
Thanks!
Zach
Changed, thanks for pointing that out.
Can you help me? I don’t really understand what bailout is, or does, or what it means. All I see is a really, really, really high number that just proves that the dollar is part of our imagination.
Of course we need credit. If we didnt have credit people wouldn’t be to start business, and therefor would hurt our economy more than it already is.
Thanks so much for changing that Matt!!
Zach