Comments on: Downturn will be a drawn out affair http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/ Get to grips with the issues affecting world business Wed, 16 Dec 2009 20:43:39 +0000 http://wordpress.com/ hourly 1 By: MADaniell http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8221 MADaniell Wed, 10 Dec 2008 16:43:40 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8221 Since we are in a mood to give away all of the country''s wealth, I have an idea. Why not give everyone in the country $1million tax-free dollars? Going by census figures, this would come to a "paltry" $330Million, less than 1/1000th that given to the wonderful financial institutions. No more mortage bailouts. The credit industry would have to layoff all of the people that give out those annoying dunning calls. If a new vehicle is needed, encourage the purchase of US vehicles. What congressman would vote against this (if they value their sweet jobs)? 'Might take a little refining - maybe limit to 3-4Million/family. I'd like to hear what others think of this idea. (Sorry for any mis-typings, I have a broken finger on left hand, and sometimes drag on the KB) Since we are in a mood to give away all of the country''s wealth, I have an idea. Why not give everyone in the country $1million tax-free dollars? Going by census figures, this would come to a "paltry" $330Million, less than 1/1000th that given to the wonderful financial institutions. No more mortage bailouts. The credit industry would have to layoff all of the people that give out those annoying dunning calls. If a new vehicle is needed, encourage the purchase of US vehicles. What congressman would vote against this (if they value their sweet jobs)? 'Might take a little refining – maybe limit to 3-4Million/family. I'd like to hear what others think of this idea.
(Sorry for any mis-typings, I have a broken finger on left hand, and sometimes drag on the KB)

]]> By: ben http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8155 ben Tue, 09 Dec 2008 21:49:05 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8155 My first recession was in 87 followed by 96/97 and now. I have benefited from every recession and have grown to work around it. The best lesson Ive learnt is never trust a banker, analyst and media report. They never have your best interest at heart. Im looking forward to another great Christmas and New Year. My first recession was in 87 followed by 96/97 and now. I have benefited from every recession and have grown to work around it. The best lesson Ive learnt is never trust a banker, analyst and media report. They never have your best interest at heart. Im looking forward to another great Christmas and New Year.

]]> By: Mike in NJ http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8132 Mike in NJ Tue, 09 Dec 2008 13:17:52 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8132 I don't think there is any doubt that this will be a deep and painful slowdown. It's very difficult to project a recovery until we find the bottom. Perhaps instead of trying to slow down the recession, we should take the opposite course and speed it up so we can get on with a recovery. Since everyone seems to be pointing at the lack of credit availability as a major problem, I would suggest that consumers pick a date in January and withdraw all of our funds from banks and Wall Street unless they open up the credit markets, eliminate the exorbitant compensations and initiate market reforms. They say that all recoveries are consumer driven, so lets find the bottom and get on with the job of moving forward. The government can not do any more without hurting us in the long run. I don't think there is any doubt that this will be a deep and painful slowdown. It's very difficult to project a recovery until we find the bottom. Perhaps instead of trying to slow down the recession, we should take the opposite course and speed it up so we can get on with a recovery. Since everyone seems to be pointing at the lack of credit availability as a major problem, I would suggest that consumers pick a date in January and withdraw all of our funds from banks and Wall Street unless they open up the credit markets, eliminate the exorbitant compensations and initiate market reforms. They say that all recoveries are consumer driven, so lets find the bottom and get on with the job of moving forward. The government can not do any more without hurting us in the long run.

]]> By: Wayne http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8128 Wayne Tue, 09 Dec 2008 10:30:11 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8128 Central banks around the world are printing money and Governments are trying to save every bank and company that made mistakes with just a slap on the wrist for the CEO's. More banks and companies will become bankrupt because of the freezing up of credit markets. There are starting to be demand supply imbalances in commodities that will lead to a super bubble in commodity prices when the global economy rebounds. With all this money printing I think gold and hard assets like commodity and food prices will go through the roof. Just like the 70's when gold went up almost 30 times. The dollar could collapse because they have borrowed more than $10 trillion. Who will finance it. Saudi Arabia, China, Japan. I think they would rather buy gold than U.S. IOU's. Central banks around the world are printing money and Governments are trying to save every bank and company that made mistakes with just a slap on the wrist for the CEO's. More banks and companies will become bankrupt because of the freezing up of credit markets. There are starting to be demand supply imbalances in commodities that will lead to a super bubble in commodity prices when the global economy rebounds. With all this money printing I think gold and hard assets like commodity and food prices will go through the roof. Just like the 70's when gold went up almost 30 times. The dollar could collapse because they have borrowed more than $10 trillion. Who will finance it. Saudi Arabia, China, Japan. I think they would rather buy gold than U.S. IOU's.

]]> By: DENNIS http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8120 DENNIS Tue, 09 Dec 2008 06:24:03 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8120 the downturn will be a very long and a drawn out affair... the downturn will be a very long and a drawn out affair...

]]> By: Owen http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8087 Owen Mon, 08 Dec 2008 04:22:46 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8087 I think we should be glad we didn't let President Bush invest our Social Security in the market huh I think we should be glad we didn't let President Bush invest our Social Security in the market huh

]]> By: James Rodgers http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8069 James Rodgers Sun, 07 Dec 2008 20:40:39 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8069 The main problem with America has been their love for oil, more to the point, foreign oil. American money has been flowing out of the country at huge rates. At this point they will never pay back their debt as too much money is flowing out. So the love affair of oil needed to be broken. Now inventing new technology won't break that love affair. The American population had to be turned off for the love for oil in a dramatic way. Companies will need to be forced to change quickly too. How to do this ... Easy .. create the biggest boom time you can and then crash it. Money is created by banks giving out loans. More money out there, the bigger the boom and demand (for things like oil). Silly loans that can't be paid back is a great way for making a boom and bust situation. With the higher demand for oil the price for it will go up. Now when we hit $147 a barrel, did anyone notice that is when the **** really hit the fan? The American people changed, they no longer wanted the gas guzzlers. But the problem would remain if auto companies were still in boom times. Now they need cash and will do whatever they are told to get it ... like making all new cars that don't need a lot of oil. If the main transport system doesn't need oil, then less money will be flowing out of the country therefore making it stronger in the progress. Bush's plan is just amazing. Oil will only need to come from local wells (for his mates). So America, Bush has shown that not only is he a bloody smart politician he is also a great actor too. that or .... he is bloody lucky. The main problem with America has been their love for oil, more to the point, foreign oil. American money has been flowing out of the country at huge rates. At this point they will never pay back their debt as too much money is flowing out. So the love affair of oil needed to be broken.

Now inventing new technology won't break that love affair. The American population had to be turned off for the love for oil in a dramatic way. Companies will need to be forced to change quickly too.

How to do this ... Easy .. create the biggest boom time you can and then crash it.

Money is created by banks giving out loans. More money out there, the bigger the boom and demand (for things like oil). Silly loans that can't be paid back is a great way for making a boom and bust situation. With the higher demand for oil the price for it will go up.

Now when we hit $147 a barrel, did anyone notice that is when the **** really hit the fan? The American people changed, they no longer wanted the gas guzzlers. But the problem would remain if auto companies were still in boom times. Now they need cash and will do whatever they are told to get it ... like making all new cars that don't need a lot of oil.

If the main transport system doesn't need oil, then less money will be flowing out of the country therefore making it stronger in the progress.

Bush's plan is just amazing. Oil will only need to come from local wells (for his mates). So America, Bush has shown that not only is he a bloody smart politician he is also a great actor too.

that or .... he is bloody lucky.

]]> By: Venerando C. Dulay http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8047 Venerando C. Dulay Sun, 07 Dec 2008 03:06:31 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8047 The current global financial crisis to me is real. We see and hear many workers being laid off. Consumer demand is at low levels. Housing mortgage firms experience low amortization payments from house owners. From my personal point of view, a government could do is to resort to mandate its central bank to lower interest rates, so companies in distress can beef up their resources and be able to recover losses in terms of sales, profits. If firms fail to repay their loans to banks, they could lose their assets that would lead to partial or full closure and lead to retrenching all their workers. Banks for their part, (this is just my opinion/view) can do their share in initiating the lowering of loan interests. This move would encourage distressed firms to borrow and sustain their operations. Thank you. The current global financial crisis to me is real. We see and hear many workers being laid off. Consumer demand is at low levels. Housing mortgage firms experience low amortization payments from house owners.

From my personal point of view, a government could do is to resort to mandate its central bank to lower interest rates, so companies in distress can beef up their resources and be able to recover losses in terms of sales, profits. If firms fail to repay their loans to banks, they could lose their assets that would lead to partial or full closure and lead to retrenching all their workers.

Banks for their part, (this is just my opinion/view) can do their share in initiating the lowering of loan interests. This move would encourage distressed firms to borrow and sustain their operations.

Thank you.

]]> By: Uma in Liverpool, UK http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8044 Uma in Liverpool, UK Sat, 06 Dec 2008 22:14:47 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8044 'Deep, prolonged, global recession'? When is it going to be called by its true name? When will the talking-heads come out and say 'Depression'. There is plenty of blame to go around. I am not even going to get involved. I am more concerned about how much PAIN there is going around. 'Deep, prolonged, global recession'? When is it going to be called by its true name?

When will the talking-heads come out and say 'Depression'.

There is plenty of blame to go around. I am not even going to get involved.

I am more concerned about how much PAIN there is going around.

]]> By: John http://business.blogs.cnn.com/2008/12/02/downturn-will-be-a-drawn-out-affair/#comment-8040 John Sat, 06 Dec 2008 20:48:18 +0000 http://cnnibusiness.wordpress.com/?p=916#comment-8040 A lot of companies went overseas to cheap labor. In doing so they fired their American workers, This is the main reason we are now in a reccesion. That is why free trade is broken. GREED by the CEO`s and their staff. Their policy of firing their workers so they can make outragious salaries then wonder why they can`t make their house payments. You ask if this recession will last long, of course it will. The banks will not pass on the reduced interest to refiance people at lower rates. These greedy people should wear t shirts saying WE Have destroried the American dream. Than you talk of bail out money. That is only for the rich period. Let them go under we are already under than we can start new . No one is worth more that 10 times the low mans wage, Think how sick it is that it is over 200%. Also think of what the Auto and Intel bosses said WE make 60% of our profits overseas it is about time Americans reconise this. Hmmm maybe that is why we are boycotting your products. the gov needs to bail out people not the firms/CEOs. A lot of companies went overseas to cheap labor. In doing so they fired their American workers, This is the main reason we are now in a reccesion. That is why free trade is broken. GREED by the CEO`s and their staff. Their policy of firing their workers so they can make outragious salaries then wonder why they can`t make their house payments. You ask if this recession will last long, of course it will. The banks will not pass on the reduced interest to refiance people at lower rates. These greedy people should wear t shirts saying WE Have destroried the American dream. Than you talk of bail out money. That is only for the rich period. Let them go under we are already under than we can start new . No one is worth more that 10 times the low mans wage, Think how sick it is that it is over 200%. Also think of what the Auto and Intel bosses said WE make 60% of our profits overseas it is about time Americans reconise this. Hmmm maybe that is why we are boycotting your products. the gov needs to bail out people not the firms/CEOs.

]]>