I have an idea for the bailout situation.
first, some background to my idea.
We all understand how loans work. I lend you 5 bucks, and as soon as you get that 5 bucks you owe me 5 bucks back PLUS interest. ..... but where do you get the money to cover that interest? I guess you have to borrow more money, thus creating more debt... this cycle started way back in the day by banks and the fed & it will continue until everyone is enslaved by their debt.
My idea is this.... Instead of throwing money at stimulus checks.... how about the government allow people to apply for interest free loans. No I'm not talking about loans where its interest free for the first X amount of years.... I'm talking a loan where say the government gives you 10,000 dollars and you owe the government exactly 10,000 dollars, no more, no less. You can still post collateral and all that jazz so theres motivation to still pay back the loan. And you can give the loan a time frame of like 5-10 years or something thats reasonable. but NO INTEREST, that is the key to my idea here.
This way, the government gets its money back.... eventually (unlike with stimulus checks), and the people can use this interest free loan to pay off all of their debts.
Now the guys who are owed money (banks, credit card companies, etc.) will get their money (rather than have everyone declare bankruptcy on them), and the people who owed the money will be able to actually pay off their debt without having to pour tons of extra money into it to cover the interest.
I know the idea of no-interest loans probably sounds ridiculous. but at this point, how is it any worse than what we're doing now by just throwing money away left and right.
just a thought.
go ahead and point out the faults in my argument. If i can survive TW at all, then i might be onto something. otherwise I'll stop trying to think about the economy and just go back to watching american idol or some shit like most americans.
first, some background to my idea.
We all understand how loans work. I lend you 5 bucks, and as soon as you get that 5 bucks you owe me 5 bucks back PLUS interest. ..... but where do you get the money to cover that interest? I guess you have to borrow more money, thus creating more debt... this cycle started way back in the day by banks and the fed & it will continue until everyone is enslaved by their debt.
My idea is this.... Instead of throwing money at stimulus checks.... how about the government allow people to apply for interest free loans. No I'm not talking about loans where its interest free for the first X amount of years.... I'm talking a loan where say the government gives you 10,000 dollars and you owe the government exactly 10,000 dollars, no more, no less. You can still post collateral and all that jazz so theres motivation to still pay back the loan. And you can give the loan a time frame of like 5-10 years or something thats reasonable. but NO INTEREST, that is the key to my idea here.
This way, the government gets its money back.... eventually (unlike with stimulus checks), and the people can use this interest free loan to pay off all of their debts.
Now the guys who are owed money (banks, credit card companies, etc.) will get their money (rather than have everyone declare bankruptcy on them), and the people who owed the money will be able to actually pay off their debt without having to pour tons of extra money into it to cover the interest.
I know the idea of no-interest loans probably sounds ridiculous. but at this point, how is it any worse than what we're doing now by just throwing money away left and right.
just a thought.
go ahead and point out the faults in my argument. If i can survive TW at all, then i might be onto something. otherwise I'll stop trying to think about the economy and just go back to watching american idol or some shit like most americans.