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~ solutions ~
5 messages. 4 contributors. Last post on Nov 03, 2009 10:50PM.
2 posts
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so it would be an understatement to say that we are in a economic mess. i want ot hear some solutions or ideas you have that Obama can do to get us off this recession.
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462 posts
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I am not in any way, shape, or form an economic expert. But my dad's side of the family works at Countrywide (now Bank of America). I know that he sees too many people with questionable credit, minimal funds, and no common sense living incredibly outside their means.
At this point, there is no quick fix. But, I believe that whenever possible, people must spend responsibly. Saving for a house/rent, food, education, clothing, etc, should always always always come before entertainment. Unless you have already saved and are secure in the knowledge that you can provide for your family, money shouldn't be spent on frivolous items.
Not going to fix the economy or anything, but it doesn't hurt to know how to manage money.
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13 posts
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People have to spend money in order to keep the economy going. If no money is being spent, then there is no money circulating through the economy.
I believe that the media makes this recession seem worse than it really is.
There are 4 major economic stages: Prosperity, Recession, Depression and Recovery. They don't always occur in that order, but they do occur at some point in our economy.
But people have to spend their money. Spend wisely, yes. But they shouldn't save all of their money up. If people do not buy, then the demand of a product goes down. If the demand goes down, then companies don't have to supply as many products, thus resulting in job losses.
If people spend money on products, then the companies will have to start hiring people, lowering the unemployment rate. Because if consumers spend, then demand goes up and then supply goes up.
Simple Law of Demand and Supply.
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462 posts
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Like I said, I'm no expert. You're right, saving everything doesn't make sense. But I do think it is important, as you put it, to spend wisely. Wasting away your money on extra stuff that you don't need before you have food on your table and clothes on your back is only going to drive the individual deeper into financial ruin. Unortunately, I am seeing around me all the time.
Ad far as what the President could do, that's an interesting question. My first inclination would be to say stop giving money to bankrupt car companies. But that damage is done.
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