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Monday, September 29, 2008

Is Bailout Good or bad for the health of common people?

The bottom line is that Common people are going to suffer whether bailout happens or not. But not getting out the bailout,it has worse possible impact on the global economy and importantly on the lives of all common people who live check to check.

The issue of this economy going south has started with credit problems and housing bubble because of the bad mortgages, foreclosures, huge inventory of unsold houses etc. That need to fixed asap. Otherwise the market will not have credit liquidity, businesses will not have money, so lay offs will start happening and it will effect life of the common person. More the unemployment, more social issues. Already we have problems of fuel shortage and impacting not only daily routines which largely depends on fuel but also industrial and business productivity.

Do not forget that these common people who live their lives paying all of these debts and has kept economy alive for last couple of recessions. But now it is time to help this common person. Which in turn will help economy to turn around.

So there has to have bailout. This bailout need to help everybody not only just impacted businesses. The credit need to flow for this and a new strategy of better economical policies which can protect not only businesses but also interest and life of common people.

While providing bailout of $700billion, there has to have accountability for money which will be spent if been approved and has to provide great deal of transparency of utilization of that taxpayers money.

Again to come out of current crisis, let us rescue the companies which are been impacted. Do not let layoffs happen and do not let increase unemployment. Try to create new jobs by way of better preparing bailout policies while purchasing those toxic debts.

Importantly we, the common people, has to change from consumerist mind set to more frugal mindset. Not just spending money but also using various natural resources around us like water, pure air, gas, land, weather and forests. It is not only for this moment, for today but also for our future as a human race going forward.

May GOD bless human race through all these turmoils like economical crisis, global warming, natural calamities, terrorism and hunger. And hey, let us all try to be together in this interesting period of our life.

What do you think is this bailout is good or bad for all of us ??? Please let everybody know !!!

Cheers !!!

7 comments:

The Logisitician said...

It is clear that the US consumer bears some responsibility and needs to change our behavior, including spending and saving practices. What is more problematic is that we all had to see it coming. There was only so long that we could do the things that we did as a country before they came back to hurt us.

I'm more concerned about our elected leadership. Quite frankly, although I believe that most of them legitimately have the interests of the country at heart, and are not inherently selfish, I do believe that they are so far removed from the common folk that they do not have a sense of what it takes to merely survive for a typcial American family. I would not object to all of them being voted out of office. Unfortunately, all of that experience and expertise should not be dismissed lightly.

The Logisitician said...

One other point, I do not think that we have the sophistication, as common citizens, to figure out how to rememdy this problem. My suspicion is that it is too complex. Then, in whom do we place our trust to lead us out of this? I honestly don't know. How about an special economic team composed of the most highly respected economists and financial experts to report back to Congress. Perhaps we do not have time. Something bothers me about this urgent rush to come up with a solution.

Melissa said...

I am going to agree and disagree with you. I think yes we all will suffer, initially, but then it will get better for those who live paycheck to paycheck. Gas prices will come down, we wont have an economy based on just credit does anybody not pay their bills with actual money anymore, food and other goods will have to come down or they will go out of business. I think what matters, is the people have spoken, and they listened. Now they can go back and make a real bill, that will really work, rather than just putting a bandaid on it.

Anonymous said...

Bailout is Bad!! Down with bailing out bad business and their greedy, stupid decisions! Let them fall, and the people who bought outside their means. Why should I pay because they all made stupid decision?

The Logisitician said...

Thanks Phoenix Blogger for leaving your comment on my blog, the compliments, and for adding my blog to your link list. I had previously done so upon finding your blog engaging. I like your thought process.

The Logisitician said...

Thanks Phoenix Blogger for leaving your comment on my blog, the compliments, and for adding my blog to your link list. I had previously done so upon finding your blog engaging. I like your thought process.

The Logistician said...

Well, now that roughly 5 or 6 months have passed, what say yee?