Thursday, 04 December 2008

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    Othello (Folger Shakespeare Library)
    By William Shakespeare
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    Economic Solution

    Lately I have taken to obsessively watching the news. I am watching everything from CNBC to C-Span to follow the economy's ever downward spiral. I am reading anything that I can get my hands on about it and I still find my self puzzling over how we are ever going to get out of this. I will admit that like John McCain I'm no expert on any of this. I don't necessarily know what will or will not work to fix this problem, but I know that it has to be fixed, and quickly. If it isn't it is quite possible that America will never recover and will lose everything.

    The state of the economy leaves a gigantic knot in my stomach. I worry that I will not be able to go to school this coming fall. I might not be able to get a loan from any where due to my lack of credit. The lovely banks that our country just dumped billions in to aren't giving out any of it. They are hoarding it like squirrels hoard nuts for the winter. They are not lending out money because it is too risky for them to. They do not want to risk loosing any of the money to people with low or no credit scores, which is quickly becoming the majority of Americans. So we as a country have just entered in to a vicious cycle. A cycle of our government taking our money, giving it to a bunch of rich executives who will in turn, not give it back to us. Isn't that nice. Thank you ever so much Secretary Paulson. (He... well he is a whole other rant by himself)

    I think that these banks need to loosen up a bit. Yes, I know we are in a recession (it's official now!) and we all have ti tighten our belts a bit, but these companies need to be open to taking a risk. Taking risks is a part of life. If we don't take risks nothing gets done. If Edison didn't take the risk of failure we wouldn't have lightbulbs today.Risks can bring about great returns. The benefits of taking a risk in this case are totally transparent. If they take this risk, this chance, all of the markets that are currently frozen will begin to move again. People will be able to buy homes, cars, and pay for college tuition. Credit score will go back up because people will be able to actually pay for the things that they need. On top of all of this put the President-Elect's plan for creating jobs and we have a problem solved. Viola!

    I could be terribly wrong on this but is it too much to ask for a little faith from the banks. We, the people, are not just numbers that give and take money. This is not all a bunch of theoretical bull shit. The people of this country are quickly loosing their ability to provide for themselves and their families.It is not just about you any more banks so get off your stupid butts and lend us a hand please. We promise we will pay you back. (Well really YOU should pay us back, since, you know, we kind of just gave you a few billion of our tax dollars (actually our great-great grandchildren's tax dollars, but whose keeping track),but I know, that's not how it works.)

    I don't know if this solution will work(I haven't gotten to take economics yet, sorry), but it sounds like a pretty good idea to me. A little bit of trust and faith in people can go a long way.
    Plus... I'd really, truly love to be able to pay for college and graduate school. That would be super nice.

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