SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Mish's Global Economic Trend Analysis
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: NOW who wrote (86470)9/24/2008 1:56:26 PM
From: Little Joe3 Recommendations  Read Replies (4) of 116555
 
This morning I posted an article which indicated that if this 700 billion goes through we will have spent 1..8 trillion on this crisis. This got me to thinking about the size of consumer debt. The figure I found is about 2.7 trillion (if someone has a better number, please post.) That means we will have spent an amount equal to 66% of the outstanding consumer debt in this country to bail out the banks and we don't know if it is over.

Instead of bailing out the banks, why not bail out the consumer. This could be done in the form of low interest long term loans and the government could recover a good part. There could be some sort of a reduction amount for people who would not be able to pay the full amount of what is owed.

This would work and it would replenish consumer balance sheets and get the economy going. It would also be fairer. Am I missing something. here.

Little joe
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News