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alstry (35.52)

ALSTRY'S SOLUTION TO THE CRISIS!!!! IN 9.09

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21

September 30, 2009 – Comments (25)

* the banks.  Government pay every American $1,000,000 and tax it as ordinary income.

With the tax proceeds, pay off the national debt and all municipal debt....any surplus would be put into a general fund to support future growth and technological developments.

If anyone has any debt, they must first apply the proceeds to paying down debt and that would eliminate most toxic debt in America.  If there are any proceeds after paying down all debt......1/3 of that money must be spent in the next year to stimulate the economy in any manner the taxpayer wishes.....the remaining 2/3 must be desposited into a bank for a minimum of two years fortifying the capital base of our banking system.

In doing so, we would pay off the national debt, pay off all muncipal debt, solve the toxic debt problem, stimulate the economy, and add to the savings base of our nation.......

Why only bail out the * bankers when you can bail out the citizens, government, and businesses as well.....at a fraction of the cost.

25 Comments – Post Your Own

#1) On September 30, 2009 at 6:23 PM, CMFEldrehad (99.99) wrote:

Only $1 million?  Why not a googloplex dollars per American?

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#2) On September 30, 2009 at 6:27 PM, alstry (35.52) wrote:

Because a million is enough to solve all of the problems.....heck, we might even be able to cut it to half a million.

It is a whole lot better than giving $10 -$20 Trillion to insolvent bankers who are not paying any taxes due to massive amounts of defaulting loans offsetting any income and shutting down our economy.

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#3) On September 30, 2009 at 6:32 PM, IIcx (< 20) wrote:

;P that's a solution that was presented back in October and, even though I promised myself I wouldn't respond to any more of your blogs, in a odd sort of way -- I miss them and like the fact you presented a solution. +1 rec from me.

The idea presented back in October was a tongue-'n-cheek play off of "bail-out nation".

It went like this, if you're actually interested in "stimulating" the economy, take the trillions and give each family who's actually a legal resident of our country and pays taxes a windfall of $300,000.

The result would have been obvious and the companies that caused the problems would have been replaced by one's we can trust until it happens again.

Best, IIcx 

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#4) On September 30, 2009 at 6:37 PM, Donnernv (< 20) wrote:

One little problem.  The 307 million citizens receiving $1 million each would increase the Federal debt by $307 trillion.  Since that amount could not possibly be raised by borrowing from any sane country or set of individuals, it would have to be "printed".

The subsequent taxation and retirement of debts would not change the fundamental fact that $307 trillion was printed.  The subsequent rejection of the dollar by the world community and the Zimbabwe-class inflation would really be the Mother of all Crashes.

Stick to running a Florida restaurant.  World monetary macroeconomics is not your forte.

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#5) On September 30, 2009 at 6:41 PM, alstry (35.52) wrote:

Donner,

We are heading in that direction anyway since no nation in the world can finance a two trillion dollar deficit.

Trust me on this one......this way we are all reset on an equitable plane and prevent massive rioting that is likely to develop in the near future from the nation mathematically running out of money.

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#6) On September 30, 2009 at 6:42 PM, davejh23 (< 20) wrote:

If every American then paid $350K in taxes, that would be over $100 trillion...enough to pay off the national debt and then some.  The gov't would definitely need the surplus to build up domestic industry since everyone would stop trade with the US.  Every individual would be left with $650K devalued dollars.  As everyone spends 1/3 of this in the first year, our GDP will grow to over $60 trillion...take that China!...we increased GDP 400% in one year! (in nominal terms)...and it would probably continue to grow since the new minimum wage would soon be $500/hr...$600/hr...$700/hr.  However, Social Security and Medicare would still be a problem.

Wouldn't it be easier to just have the government declare that all debts are forgiven and default on the national debt?  Obama just needs to get on TV and say "I declare...BANKRUPTCY!"

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#7) On September 30, 2009 at 6:45 PM, cbwang888 (25.88) wrote:

Not a good solution. Why would people work for 50K~100K / year if you would get 1M for doing nothing? It would also piss off all USD savers who build up their 1M savings for their 10~20 years...

My takes: Nationalize insolvent banks into a big bad bank supported by Fed. Auctions on the toxic assets from big bad bank to private buyers who can get credits from healthy banks. Let the free trades in. Get the government out. We missed the opportunity thanks to Benny and TImmy.

There were lots of cash on the sideline earlier this year. Now they are desperately chasing winds. More and more are dumping USD for stocks, bonds, foreign currencies, commodities and precious metals. 

The financial pain for the public majority has just begun. 

  

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#8) On September 30, 2009 at 7:04 PM, IIcx (< 20) wrote:

300,000.00 x 307,000,000 residents (as opposed to each household that currently pays taxes) = 92 trillion but the number is significantly smaller (3 trillion) if applied to households that pay taxes as opposed to receiving a return and are not incorporated for-profit or non-for-profit businesses.

It was an amazingly obvious solution for a republic of states that are "by and for the people" and country as a whole.

Fun blog Alstry!!! 

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#9) On September 30, 2009 at 7:25 PM, abitare (30.41) wrote:

The question has been asked:

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#10) On September 30, 2009 at 7:32 PM, jmt587 (99.78) wrote:

Today is the day I realized Alstry jumped the shark.  I'm a little slow on the uptake perhaps.  Thankfully 9.09 will be over in a few hours, and Alstry won't mention it again (wishful thinking makes my world go round).

I've also come to believe that Alstry is some dude in way over his head in some respect, probably financially in a lot of trouble, and wants some magical thing to happen so that he can hit the reset button ("this way we are all reset on an equitable plane").  What he forgets is that anyone who has a fair amount saved, and has a little sense, would realize they were being shat upon.  Like TMFE said, why not just give everyone a billion?  Or a debit card with no limit, where statements are sent right to the fed so they can print money to pay the bills?  I didn't realize, before today, that Alstry hated capitalism.

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#11) On September 30, 2009 at 7:59 PM, lquadland10 (< 20) wrote:

Fire the FED.

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#12) On September 30, 2009 at 8:30 PM, alstry (35.52) wrote:

Actually, what you all fail to realize is our nation is bankrupt.

As citizens we have joint and several liability with the obligations of our government.

If our government goes to war, we all go to war.....and some of us must donate family members to the cause.

If our government is broke, we are all broke since we are all jointly liable for the obligation.

If you have a lot of money saved, and the government needs it....that money will belong to the government in one way or another....either through the devaluation of the currency or through confiscation through taxes.

In either case you are essentially broke.....I did this little experiment to observe reactions.....in the end, at this point as our banks are insolvent and our nation in insolvent....we are all insolvent......now the only question is how will it be revealed to us...through war or massive economic collapse. 

But one thing is certain, it will be revealed to us now that we all know in 9.09.

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#13) On September 30, 2009 at 8:45 PM, topsecret09 (89.05) wrote:

 NOW YOUR TALKING...  Even If you were to give a TWO YEAR (minimum) tax holiday from all Federal Income Taxes,you would "stimulate the economy" In a REAL SENSE....   Giving the money to the banks has made this recession WORSE !!, not better...   And I agree 100% that the Federal Government IS BANKRUPT. WE HAVE NO MONEY. WE JUST PRINT IT !!  TS

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#14) On September 30, 2009 at 9:00 PM, IIcx (< 20) wrote:

LOL, and you had to ruin the moment.

Now that 909 has passed what date will be next for soapbox time ;)

I'd like to prepare.

Best, IIcx 

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#15) On September 30, 2009 at 9:02 PM, topsecret09 (89.05) wrote:

#9) On September 30, 2009 at 7:25 PM, abitare (99.19) wrote:

The question has been asked:  That was one completely amazing video...  This guy was ELECTED to office ?? No wonder  were In a recession........   The higher the national debt the wealthier we are ???   LOL!!!!!!!!!!   TS

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#16) On September 30, 2009 at 9:19 PM, SolarisKing (< 20) wrote:

The solution is blindingly simple. Every company that goes bankrupt is auctioned off. Period.

Smart folks who had played the right way would have taken their money and bought up portions of GM and Lehman? for whatever it was worth on the market. End of story.

Then, instead of having the same bunch of fat, lazy, stupid, out-of-touch, gluttonous, lying, bastards in charge, we would have trim, ambitious, smart, on-topic, disciplined, honorable, winners in charge.

GM could have been broke into a dozen companies (now there's competition). AIG could have been jailed for fraud, and the fraudulent debt reduced by 10% accross the board (or something) and broke into a dozen banks.

I'm not even a capitalist (well actually i am, and most of the bankers aren't. Capitalism would have a respect for capital. Most of america has been doublespeaked into calling the current economic system capitalism, when it's really currencyism, if not just plain facism) and i know that.

-solaris

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#17) On September 30, 2009 at 9:23 PM, alstry (35.52) wrote:

Solaris,

Perfect!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Your solution is the correct one, my solution is an alternative to the current one.

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#18) On September 30, 2009 at 10:09 PM, IIcx (< 20) wrote:

I completely agree SolarisKing but the part you're not seeing is the graft was spread worldwide. The current situation dictates a world response and the downsizing of American interests abroad.

Believe it or not we want this to. The world is clearly to young for a one world economy and if anyone had any sense they would ground all aircraft and shut down the internet for a year.

The part you're also not seeing is we as Americans are sick of having to pay out the nose to clean-up world-wide problems. It's time they fixed their own mess. 

No one wanted Starbucks, MickieD's or any other American influence in their culture but to get cheated over investments from the worldwide banking community is cause for WW3.

I loved the rejection Disneyland got from France when it was introduced but this is a very different situation.

The actual fix for this mess is to unplug American consumption from the world and make countries stand on their own. That is what's currently happening and its not going to be a pretty picture until they do.

IIcx 

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#19) On September 30, 2009 at 10:44 PM, Starfirenv (< 20) wrote:

Who was it that called the top at 8500 a few months ago?

Who said the Dow would sit at 4000 by this time tomorrow?

Should I continue ad nauseum? Easy to go on and on.

The same Sage Visionary who now sees the way out? HA!!

Delerious- Zero Cred, Oh arrogent, condescending, pretensious, pontificator, -

Soon you will understand.  10.09, time to  Give it up already.

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#20) On September 30, 2009 at 10:51 PM, blueberrygoo (57.61) wrote:

Sorry to Alstry and the MOAP...  soon you will learn that the MOAP did not happen in 9.09 and that our dear Alstry will still be here to warn us about impending doom w/o a date.

It's not the end of the world, but a new way to think about Alstry and CAPS blogs... soon you will learn that 9.09 was not all that bad and that 10.09, 11.09, and 12.09 will not be all that great... not the end of the world, but not that great.

Soon you will learn...  it helps to read this like an October ghoul or goblin... say it with me now in that voice... "Soon you will learn..."   Whooo whoo whoo  haaa haaa haaa haaa... you're doomed!!!  SO DOOMED!!!

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#21) On October 01, 2009 at 11:33 AM, rofgile (99.46) wrote:

Soon you will learn that MOAP doesn't mean what you think MOAP means...

 -Rof 

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#22) On October 01, 2009 at 11:52 AM, jason2713 (< 20) wrote:

Ok so instead of giving every legal American the money (whatever figure that we deem is the number to give), instead, give every home owner who uses their home as their primary residence (no investment properties/flipping speculation/etc) a bail out, cut income taxes/corporate taxes, and stop with the cap and trade B.S.

We are killing our own economy.  Honestly, I think that it's too late unless we default on our debt, which will likely insight war on USA.

No matter what affiliation you are, Dem or Repub, their agenda's are the same, but their ways of doing it are different.  Dem's tax/spend.  Repubs cut tax/spend/create more debt.  No matter how you look at it, that's what's going on and has been status quo for a long time.

Repubs need to start being true repubs, cut taxes, cut spending, rely on free markets and cut the social programs that breed laziness.  

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#23) On October 01, 2009 at 1:08 PM, AdirondackFund (< 20) wrote:

Alstryyyyyy ... I am beating you on the downside today...by only a scrawny 50 points...but I am enjoying it nonetheless.  Check out GMX, last I looked he was up something like 800 points today.  I am still slogging through the 'remains' of my posting ALL CRAMER PICKS on my Caps Account.  And while the 'accurracy number' has rallied nicely from 42 to 54%, I had to take a big hit in score in order to get that done.  Score will be the least of my concerns in 6 months when all of the Bull's points have been wiped out.

It is actually funny that so few people can get jiggy with the dark side of life.  Bring back Alice Cooper!  I have simply never seen anything like what we are looking at today.  You call this an economy?  You have got to be kidding.

We are morphing from an Orwellian Utopia into a Dickens Classic.  We have already been visited by 'the artful dodger'...what could come next?  SCROOGE!  You just have to love the prospects for Christmas Retail Sales this year.  LOL. 

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#24) On October 01, 2009 at 2:23 PM, Rebkong1 (< 20) wrote:

thank God that guy said it slowly..i would have never have gotten it!

 

Alstry you been wrong this entire time..the more we borrow the wealthier we are! its just different for governments and nations!

 

 

SWEET!!! 

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#25) On October 07, 2009 at 10:54 AM, ayekappy (< 20) wrote:

There are 307 mil citizens but I bet only about 50 mil have any real debt... the rest are kids, housewives, and retired old people that already own their house.

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