Alstry's Peace Offering.....The World is Stressing....How do we fix the problem????
Ireland's unemployment rate hits 13-year high of 11.8 percent; welfare claims at record high
Jobless Rate in Europe Rises Further:
Canada Jobless Rate Hits 11-Year High, Led by Plants
So maybe we shouldn't waterboard Geithner and Bernanke just yet........maybe we can help them out......
Possibly we CAPs players can come up with an idea that solves a problem that is getting worse???
Over the past 8 years, our government spending grew to $6.5 Trillion per year. About $80K per family in America. During that time, government enjoyed a surge in tax receipts from a credit bubble that drove revenues and profits to almost every sector of the economy....especially health care which now constitutes almost 20% of our economy.
The credit bubble popped and left a debt legacy suffocating our economy PLUS revenues have dried up to government......right now we are staring at a ONE YEAR $2.5-$3 Trillion dollar shortfall to Federal, State, and Local Government. That is about $40,000 per family in America.......a sum that is not sustainable into the future since the total savings in America is not much more than $40K per family.
Interest alone on the accumlated debt, factoring Federal, State, Local and Private totals about $3 Trillion dollars per year.........again, about $40K per family........an unsustainable number.
We are now seeing a rapidly increasing number of private and corporate bankruptcies....about 6,000 per day......and many municipalities are on the brink.
Our families are going bankrupt, our business shutting down, and our governments are out or running out of money.
If government tries to print, or borrow its way out of this mess, without a productive economy to support paying back the debt, the dollar will rapidly devalue and wages will never be able to keep up with rising prices. Basically, we will make a problem much worse going from where many can't afford much to none being able to afford anything.
So what is the solution folks????....we are all sailing on the Titanic together......whether you are currently in First Class sipping brandy or down below feeling the coldness of the water gushing in.......if we do nothing.....soon we will all be swimming together.
Many of you have endured the excrutiating experience of readings Alstry's rants documenting the demise of our economy.....it is not too hard to see if you are looking in the right places......but enough is enough......it is now time to figure out a solution.....and since Washington has not been very effective so far......let's see what kind of creative actionable ideas CAPs players can generate.....
My guess is who ever comes up with the winning idea....he or she will have riches flowing their way for the rest of their lives......and many generations beyond.