Good news GUYS and GALS, Looks like the AFC will win, doesn't that mean the Markets end up positive for the YEAR??? (hope I didn't jinks it)
I'm starting to suspect that we are just having another standard issue recession... so far it's not worse than the 1981-82 one... banks are buying up assets from Hedge Funds on the cheap thus making themselves more solvent... in a sense the rich that put their money with the Hedgies are bailing out the banks with the help of all those Hedge fund geniuses...
Maybe its a way to wake up the spend thrift consumer to force them to SAVE. Look what sky rocketing oil did, substantially reduced consumption????
Scrap all personal and corporate income taxes and replace them with a consumption sales tax. This would encourage people to save or invest their money rather than spend a lot of it on imported junk that returns nothing to the economy. If there was any government spending to revive the economy it should be for things that would have the highest rates of return. Something like subsidizing windmills. You would put people to work constructing, installing and maintaining them. You would help the environment and displace imported oil. Eventually the billions spent on subsidies like that would pay themselves back much like the Hoover dam paid for itself with electricity and farmland irrigation. Where I work, any investment idea has to have a two year payback or it's not even considered. The government has to think along the same lines.
Sorry, Actually, Alaska could succeed from the Union, become its own nation, sell oil for $200 and Gold for $900, sell their fish to the Asians or the US (depending who pays more), declare war on the Union, then sue for reparations. In Alaska, ammunition and firearms are sold out before they hit the selves.
Will you take Quebec in trade from Canada? Do we have to take Palin? Can't you just send her to Iceland? She probably wouldn't realize the difference and she couldn't make it much worse there than it is already.
End the worlds reliance on fossil fuels and you end much of the worlds economic concern. This problem started with the rise in crude. Lets aim for a cleaner world and it will benefit not only our health but our wallets too.
problem is nobody has the cash to buy these banks even if they do go chapter 11 or chapter 7. so the gov't buys them as the gov't is the only entity with the deepest pockets which the gov't will than sell back to private sector. bust in the banking sector is shorten as the new and restructured banks emerge quicker with less economic damage if you let the free market