Can't blame the leaders for everything. Eg..
Consumer buys $500,000 house on $35,000 anual salary. Bank says, "Approved!" I say "YOU'RE STUPID!".
Customer doesn't have cash, instead swipes a $2,900 LED 60" TV. Bank says, "Approved!". I say, "YOU'RE STUPID!".
If you don't have the means to afford it, then don't buy it. If the bank approves you, all they care is that they got you locked in for x amount of years with interest on the interest on the interest...
Then the Banks are like 'oh, ****!' and ask the government to get bailed out because the consumer can't pay. But instead of putting all the money to pay off the debt, they spend it on private jets, yachts, parties, etc.
How to solve this problem? Handing out money from the government won't work. Consumers will just spend it and give a temporary boost to the economy.
Businesses need to be forced to pay taxes in the US if they sell products here. And the country needs to sit poor for years. Consumers shouldn't be allowed to add on debt. Instead, be forced to pay off loans/credits. Then after 3-5 years once the consumer debt is only in the millions, can we start trading again. And finally, stop the GOVERNMENT spending!
I agree. There are a lot of stupid consumers that should be responsible for their own debt.
I also think those bank "leaders" are stupid for choosing to allow such irresponsible lending in the first place. They should be responsible for their own corporate debt without asking the government to bail them out either. It's really hypocritical of them not to help average people recover from debt (and in fact encourage more debt), while simultaneously asking the government (our taxes) to help them out of their own debt.
That is the opposite of leadership.
Government needs to spend less, stop printing more money, and get rid of all pensions and benefits.
Government needs to discourage corporations from the predatory adding to and encouraging of our personal debt.
Maybe there should be laws capping CEO/Exec total salary/benefits/bonuses/options packages to X% of their lowest paid employees/Y% of their mid level employees (whichever is least in total). This amount should be public and transparent to everyone.
Politicians shouldn't be paid until they cut costs, balance the budgets, AND have a solid plan to reduce national debt significantly. No more raises, benefits, bribes, and loopholes.
Politicians pay is capped at $75,000/year and conditional on performance metrics that are transparent to everyone.
Corporate taxes need to go up and manufacturing needs to come back home. Helping china by investing in their country probably does nothing to pay-off our previous and existing debt to them. (Though I'm no professional economist.)
In the long run we need to be producing/selling more and buying less, so we can pay off our debt.
Corporations should be long-term customer satisfaction focused, not short-term investor profit focused. No more employee layoffs to increase investor profits or ceo/exec bonuses.
Average people taxes need to go down and salaries/wages need to go up to cover increased costs of living.
People need to spend less and learn to be happy with what they have.
And all the rich leaders in the nation (whether corporate or political) need to accept their own responsibility and actually pay their fair share of taxes as well as pay off part of the national debt that they created (without pulling it from our paychecks or taxes or using it as some lame pr move. It needs to come from their own personal wallets.)
We need to wake-up from our greedy little fantasies that charging more money, paying employees less, and buying more stuff will make us happier. We need to become more creative and productive and encourage and respect each person's contribution to the future, no matter how much or how little money and power they have.
We need to add human value back into our entire economy, not try to sacrifice human value to squeeze more money or things out of it for ourselves.
We need more wisdom, respect, fairness, equality, balance, and "sanity" put back into the whole system.
We should not be so greedy and selfish (This should start with those "Leaders"!)
