How Would You Spend $700,000,000,000 And Save The World?

16 years ago

Simple. I'd spend 100 billion of it to create a time machine to go back to when
700 billion dollars was a lot of money.

Then I'd spend it on hiring the most brilliant minds to sit down and tell me, if
money were no object, what could be done to insure global stability for all
eternity.

I'd then implement the plan in THAT time period, go back to my own time
and stop worrying about things.

Thanks

Signature

My Soundcloud Music Channel

{{ DiscussionBoard.errors[140629].message }}

KarlWarren

16 years ago

I think people just need to learn to spend what they have, and not what they don't have...

They need to pay their bills instead of racking up bad debt...

They need to learn to save, instead of squandering...

They need to be given a financial education...

-------------

I think the current situation is long overdue and if people don't learn from it, then that's their problem.

This is just part of a cycle, there will be better times, there will be worse times...

People who know how to control money will continue to gain, those who don't will have to learn fast - or they'll be poor.

This current situation comes as no surprise to me, and I'm not going to worry in the slightest.

Thanks
1 reply

Signature

eCoverNinja - Sales Page Graphics & Layout Specialist

{{ DiscussionBoard.errors[140630].message }}

Martin Luxton 16 years ago

I think people just need to learn to spend what they have, and not what they don't have

Karl,

I agree, but I'd change the word "people" to "bankers" or "governments".

Martin
- Thanks
- 1 reply
{{ DiscussionBoard.errors[140645].message }}
- KarlWarren 16 years ago
  
  Originally Posted by Martin Luxton
  
  Karl,
  
  I agree, but I'd change the word "people" to "bankers" or "governments".
  
  Martin
  
  It applies in ALL cases
  
  Perhaps I should have said "society."
  
  With an economy built on debt, it will always happen - and 'they' will never learn.
  
  Thanks
  
  1 reply
  
  Signature
  
  eCoverNinja - Sales Page Graphics & Layout Specialist
  
  {{ DiscussionBoard.errors[140650].message }}
  
  Martin Luxton 16 years ago
  
  It applies in ALL cases
  
  It helps a lot in IM too.
  
  Since I brought my expenditure down to (almost ) what I earn I'm doing better and my life is much more stress-free.
  
  Martin
  
  Thanks
  
  {{ DiscussionBoard.errors[140666].message }}

Michael Oksa

16 years ago

Originally Posted by Martin Luxton

I know this might seem off topic but this affects everybody and, as the politicians can't agree maybe the WF can come up with some (non-partisan) ideas that might filter through to Washington.

I'll kick off.

My plan is based on these three factors

a. The banking system needs stability.

b. Ordinary Americans need to feel their finances are secure before they spend.

c. The people who got us into this mess shouldn't benefit too easily.

The plan is very simple.

1. Give every American man, woman and child $2,300 dollars each. They have to keep the money in their (American) bank account for a minimum of 3 years. After 3 years the money can be withdrawn in tranches of $500 every 6 months.

This means the banks HAVE USE OF $700 billion, but it belongs to the taxpayers and not them.

2. Every board member of a debt-ridden financial institution will RECEIVE NO SALARY until their company is back in the black. People who bank with companies who do not agree to this will not be allowed to receive their $2,300.

3. If this works, I get Paulson's job.

Martin

Martin, I honestly think that is about the best plan I have seen...except for step 3 of your plan.

If your palne were adopted, I can guarantee it would become a 250 page monstrosity of doublespeak and gobbledygook. Plus, they would find several ways to make it more complicated and less effective at the same time.

However, as much as I like your plan, you made one flaw. You are using logic, and we know how often that gets rejected.

~Michael

Thanks
1 reply

Signature

"Ich bin en fuego!"

{{ DiscussionBoard.errors[140677].message }}

Lou Diamond

16 years ago

Hello,
I would use the money for reserarch on lowering gas prices.
If we were to get gas down to $1.00 everyone would save
money.
That is why we have no money,all of it is spent on just getting to
and from work.
All fuel prices have to come down and not go up.

Thanks
1 reply

Signature

Something new soon.

{{ DiscussionBoard.errors[140740].message }}

Lance K

16 years ago

Originally Posted by Lou Diamond

Hello,
I would use the money for reserarch on lowering gas prices.
If we were to get gas down to $1.00 everyone would save
money.
That is why we have no money,all of it is spent on just getting to
and from work.
All fuel prices have to come down and not go up.

The price of fuel isn't the problem.

Thanks

Signature

"You can have everything in life you want if you will just help enough other people get what they want."
~ Zig Ziglar

{{ DiscussionBoard.errors[140770].message }}

Henry Artz

16 years ago

I'd give them all back to Americans by lowering the gas price and the tax rate and giving monthly tax rebate.

Thanks
1 reply

{{ DiscussionBoard.errors[140736].message }}

threeg5 16 years ago

first off it is incredible that there are 6,370,000 results for government bailout. That is enormous considering that other things have like 1,000,000 or so and at there "time" were just as important.

Martin your idea is the Forcing The Financial Institutions to Take Responsibility For Their Actions ( Read On to Understand )

So let me get to my "How to Fix America With 700,000,000,000 Dollars" man that is a huge number
1st - "The Bush administration's plan would allow the Treasury to buy up troubled assets from financial institutions. The aim is for the government to buy the assets at a discount, hold onto them and then sell them for a profit."
**Shouldn't they just let the company get back to black and have a little interest on them for the deal? After all This is nothing more then a bonified Bankruptcy with a twist.
2nd - "Private money managers would oversee the assets while they are in the government's possession." Who gets to choose these "money managers"?
** I say if the Government is going to do this then why not just extract the "RETARDEDLY HIGH PAID CEO'S" and inject someone they obviously feel is more worthy to run the company. They are appointing a money manager for the assets they (the government) will own anyways. (theres more on the salary part later in the plan)
3rd - "The primary target is mortgage-backed securities that have seen their value plunge due to rising foreclosures and a prolonged slide in home values, but debt ties to auto loans and credit cards may also be included."
So Who Gets Fired For This NO-ONE because they have a political job and were appointed by an "elected official" that we put into office.(this is a shameless plug for you to pay attention to what is happening right now and vote especially if you are reading this with intent)
4th - "The Treasury thinks that by taking problem assets away from banks, financial institutions will be able to shore up their balance sheets, allowing them to lend to consumers and other banks again."
You can not take away what the "financial institutions" created while they get back to black then give it back to them and expect it to be ok. What a croc if they sucked managing money before imagine giving them a clean slate to work with for a bit.
Hey guys can you hold my bad debt too for a bit so I can get right? Ok Ok I get it they are trying to keep the Economy from collapsing :confused: wait it already has so why didn't they pay attention to this before it happened well remember when all the things were looming about the Forseen Mortgage Crisis? Ok that is when something should have been being done. I don't remember hearing of anybody in the government being blasted for offering a "proposed bailout plan" back then. Because it didn't happen.
SORRY I AM VENTING

SO "How Would I Spend $700,000,000,000 And Save The World?"

1st - Force " Financial Institutions" to take Responsibility for Their Actions

2nd - Find Appropriate, proven candidates for jobs at hand and then allow the board to vote on them. This way no matter who they pick they will be ok and be able to get back on track. It will just be their choice as to the character that they answer too.

3rd - Put forth measures to help the people that are really paying for all of this. The Homeowners who had their budgets fixed and were in retirement and do to the irresponsibility of the government and their manic drive to war (THE PERSON IN CHARGE) had prices of everything on the bottom line increase. So they had to start working again. BS

You know it's true
" When the Rich Wage War, It Really Is The Poor Who Die Fighting "

4th - Teach all of them IM and then figure out where the money is going to come from. If we are all Rich Who is?

Ok enough before I start repeating myself louder and louder.

Thanks for lettin' me rant,
Mike G
- Thanks
- 1 reply
{{ DiscussionBoard.errors[140832].message }}
- Megs the Wealth Warrior 16 years ago
  
  I don't think the gas prices are the problem either. the whole transportation infrastructure needs to change. have high speed trains parallel the highways - think of how much less stress and work and lounging could be done if people could spend time on trains rather than cars to travel longer distances. (amtrak isn't cutting it).
  
  I also think financial education of new parents is important, as that's who we usually learn how to manage money from - our parents. add money management to the public school curriculum - teaching a needed skill for a change.
  
  Cut the military budget by a fraction - how huge is it? how much good could just a small amount cut from the war machine could benefit every family?
  
  Let's finally hold the financial institutions accountable and deal with the aftermath, whatever it may be, to breathe fresh air into the system. C'mon human, we can do better than the past and present. It's time for the shift and if this fallout is what brings it on, so be it!
  
  It's all very complicated and interconnected, i know.
  
  Thanks
  
  {{ DiscussionBoard.errors[140869].message }}

Richie Bigrac

16 years ago

I would use part of it to ensure all schools teach money management (ie. everyday use of money) as well as math.

Also, if nations didn't spend what they do on military matters, money would be a less of a problem.

Thanks
1 reply

{{ DiscussionBoard.errors[140744].message }}

Lance K 16 years ago
- If banks have access to 700B, who do you think they'll lend it to? I'm guessing all the Joe and Jane Schmoes who now have $2,300 more net worth and therefore more borrowing power. Which won't do us a lick of good unless both institutions and individuals learn about responsible lending and borrowing.
- Good luck finding anyone willing to sit on a Board of Directors
- Thanks
Signature

"You can have everything in life you want if you will just help enough other people get what they want."
~ Zig Ziglar
{{ DiscussionBoard.errors[140762].message }}

xmx

16 years ago

Banks invested (risked) an average of 14 times the
assets (money) they had available.

That was responsible for their big earnings when the
markets were going well.

That same condition was responsible for their big
losses when the credit crunch exploded.

Not allowing any entity to risk/invest more than
what that entity has available would have caused
less earnings in some of the past years, but would
have also meant less losses and not such a a big
credit and markets crisis.

Thanks

{{ DiscussionBoard.errors[140820].message }}

Martin Luxton

16 years ago

Tom

This is just a starting point for a discussion.

The reason I suggested the money going into personal bank accounts for 3 years was so there wouldn't be a run on the banks for that money as soon as it was deposited. So what kind of restrictions would you put on the way the bank lent this money in order to safeguard it?

I realize that any scheme can be gamed. For example, I can see the banks offering people loans against their 3 year cumulative total of $6,900.

Lance

If the present board of directors of a company leave their job where will they get another one if all the banks sign up for this? They usually have shares tied in to the company so there is a huge incentive for them to stay on and turn the company round particularly if they get no golden handshake for leaving.

If I offered you the chance to run a bank for 2 years with no salary but after that you would get a cut of the profits, would you turn it down?

Martin

Thanks

{{ DiscussionBoard.errors[140850].message }}

vorales

16 years ago

Originally Posted by Martin Luxton

I know this might seem off topic but this affects everybody and, as the politicians can't agree maybe the WF can come up with some (non-partisan) ideas that might filter through to Washington.

I'll kick off.

My plan is based on these three factors

a. The banking system needs stability.

b. Ordinary Americans need to feel their finances are secure before they spend.

c. The people who got us into this mess shouldn't benefit too easily.

The plan is very simple.

1. Give every American man, woman and child $2,300 dollars each. They have to keep the money in their (American) bank account for a minimum of 3 years. After 3 years the money can be withdrawn in tranches of $500 every 6 months.

This means the banks HAVE USE OF $700 billion, but it belongs to the taxpayers and not them.

2. Every board member of a debt-ridden financial institution will RECEIVE NO SALARY until their company is back in the black. People who bank with companies who do not agree to this will not be allowed to receive their $2,300.

3. If this works, I get Paulson's job.

Martin

Guess you get the Paulson's job ,if congress pass your bill.

A good plan but does the President like your plan or not.We have to take President into confidence.

I wish any plan which is benificial to the American economy which intern related to the WORLD ECONOMY should be passed.

I VOTE FOR YOU.

Thanks
1 reply

Signature

Vorales.com - Build your health and wealth

{{ DiscussionBoard.errors[140872].message }}

Martin Luxton 16 years ago

Originally posted by Big Mike

Sorry - this is depressing!

Mike,

I don't know how this is affecting Greece, but I work with a lot of business people here in Turkey and they feel really helpless as they watch the fallout from the US really hurt their economy.

It is really depressing, particularly the lack of common sense solutions around.

Martin
- Thanks
{{ DiscussionBoard.errors[140905].message }}

Tuzic

Banned 16 years ago

hi,

i dont what i would do with so much money but aim for world peace.

Thanks

{{ DiscussionBoard.errors[140907].message }}

dvduval

16 years ago

I think a mortgage should not be able to be sold or otherwise insured, other than through deposits of the bank that made the loan. Complex financial instruments are what caused people to lose sight of the value of assets, and a return to simple instruments, especially with regard to mortgages would go a long way to making sure this never happened again.

Thanks

Signature

It is okay to contact me! I have been developing software since 1999, creating many popular products like phpLD.

{{ DiscussionBoard.errors[140917].message }}

Joseph Then

16 years ago

I think the US government borrowed the money from Bill Gates and Warren Buffet...

Thanks

Signature

>> High Quality Solo Ads Starting From Just $22! <<

{{ DiscussionBoard.errors[140980].message }}

Christopher R Everson

16 years ago

I'd use it to somehow convert the states to communism and tell everyone to shut up and share.

Thanks

Signature

Money isn't real, George. It doesn't matter. It only seems like it does.

{{ DiscussionBoard.errors[141001].message }}

Daniel Molano

16 years ago

Lowering taxes would lead to hyperinflation (simple economic model).

The oil barrel actually dropped by $10 yestarday if I'm not mistaken after the crash. The only way gas prices could possibly be lowered and not affecting the economy would be by providing some sort of subsidy to the oil companies, which would piss many people off as that would only make them richer than they already are.

Frankly, the plan presented by the Bush administration is not so far off, it would be rescuing those that made the mistake in the first place with taxpayers money, but if that doesn't happen the whole financial system will collapse and that is way much worse. In fact, Wall Street and stock markets all over the world crashed yestarday RIGHT AFTER congress rejected the plan, so it was basically caused by them.

Yestarday's Wall Street crash was just a very small sample of what could happen to the financial system if the plan is not approved, if they think of something else that would revitalize the financial system that would be great, but I believe that is as good as it gets, even if it means using taxpayers money to rescue the banks.

It's basically an either that or depression, take it or leave it.

A lot of people keep complaining that why should the financial system be rescued with taxpayers money. I'll tell you why, it's either that or you will barely be able to afford an apple like in the past depression.

Thanks
1 reply

Signature

Como Ganar Dinero Por Internet - Spanish Make Money Online Site

Daniel Molano - LinkedIn Profile

{{ DiscussionBoard.errors[141082].message }}

HeySal 16 years ago

I would use the money to reinstate the Gulag and have every person responsible for treason arrested, and possibly hanged - that inlcudes Gov, and financial crooks - worldwide.

Then I would demolish the FED - since it's leaders would be gone via Gulag invesigations anyway. Then put us back on Metal backed money.

Then I would use some of it to get our military back from Iraq.

Then I would throw a party with the rest of it to celebrate the vote in of new legislators to take the place of those hung or jailed for treason....so I could get real blasted while watching our people blindly vote in the same kind they just managed to get rid of.
- Thanks
Signature

Sal
When the Roads and Paths end, learn to guide yourself through the wilderness
Beyond the Path
{{ DiscussionBoard.errors[141118].message }}

Michael Oksa

16 years ago

Regardless of what ideas presented here will work, or not, I did notice we have at least come up with more options than our elected officials (notice I said "officials" NOT "leaders").

~Michael

Thanks

Signature

"Ich bin en fuego!"

{{ DiscussionBoard.errors[141524].message }}

ofir

Banned 16 years ago

1.Support Shay Agasi and his electric car idea.
2.Moving to Solar Energy all over the world.
3.Supporting Africa.

Thanks
1 reply

{{ DiscussionBoard.errors[141640].message }}

Mal Keenan 16 years ago

For a start I'd use it to buy guillotines. I'd place 10 guillotines in every capital city in the world. Then I'd start working my way through the governments of each country - one head at a time.

You know, the ones who have created this mess?

I don't know, but in the current climate I may get a few citizens volunteering to help in my task.:p

Once the job was done I'd use the rest to have a BIG, BIG party

Disclaimer: I added this post before reading Heysals above. I guess great minds think alike after all.
- Thanks
- 1 reply
{{ DiscussionBoard.errors[141742].message }}
- myob 16 years ago
  
  Since no one seems to really have a viable plan what to do with this money, it should be placed in a secure bank account - The Bank of MYOB. The funds will then be released in an orderly fashion at my discretion.
  
  Thanks
  
  {{ DiscussionBoard.errors[142122].message }}

valerieSONORA

16 years ago

There is a documentary that talks about what caused the big economic problem- THE SUPER WEALTHY CAUSED IT

Here's the link:

Super Rich: The Greed Game

Thanks
2 replies

Signature

siggy taking a break...

{{ DiscussionBoard.errors[141848].message }}

Phnx 16 years ago

Originally Posted by annoyedgirl

There is a documentary that talks about what caused the big economic problem- THE SUPER WEALTHY CAUSED IT

Here's the link:
Super Rich: The Greed Game

LOL "a class war between the Haves and the Have Mores" says it all really.

Good documentary.
- Thanks
- 1 reply
Signature
In all matters of opinion, our adversaries are insane. ~ Oscar Wilde (1854 - 1900)

Easy Weight Loss
{{ DiscussionBoard.errors[144362].message }}
- myob 16 years ago
  
  The haves were at one time have nots who invested in opportunity. Buy whatever you can in some of the historically high stocks that are now bargains.
  
  Thanks
  
  {{ DiscussionBoard.errors[144944].message }}
Lance K 16 years ago

Originally Posted by annoyedgirl

There is a documentary that talks about what caused the big economic problem- THE SUPER WEALTHY CAUSED IT

Irresponsibility and greed caused it. Both of the wealthy and poor.
- Thanks
- 1 reply
Signature

"You can have everything in life you want if you will just help enough other people get what they want."
~ Zig Ziglar
{{ DiscussionBoard.errors[145062].message }}
- gareth 16 years ago
  
  With 700 billion dollars
  
  #1.
  
  I would build a super computer that is at least 1000X smarter than a human. I would let my computer fix the economy - which it would do easily.
  
  I believe this would cost at the most 300 billion dollars and could be achieved within 5 years.
  
  #2.
  
  This leaves me with 400 billion dollars which i would spend on mining asteroids. Which would return $100 on the dollar and leave me with 40 trillion dollars.
  
  This proves how stupid people are when limitless wealth is at their finger tips and they choose to renovate and sell the house instead.
  
  Thanks
  
  1 reply
  
  Signature
  
  Gareth M Thomas
  Serial Entrepreneur
  Auckland, New Zealand
  
  {{ DiscussionBoard.errors[145267].message }}
  
  easy does it 16 years ago
  
  7 and all those 0s will not cut it.
  
  No government or country or money they can muster can stop the tide of global depression.
  
  Part of a cycle. And long overdue because of the baby-boomers.
  
  That's the reality.
  
  It's arriving, now.
  Worse than the 1930s
  
  No one in power has experience of this.
  No banker has experience of this.
  They are all powerless.
  
  And no one in power will tell you it was a depression until
  
  we're coming out of it in 10-15 years from now.
  
  Here's an index for ya.
  
  Real estate... in general... will lose 80% of it's value.
  
  Now imagine what goes along with that.
  
  Not pleasant for me or you.
  
  Tom
  
  Thanks
  
  {{ DiscussionBoard.errors[182384].message }}

artwebster

16 years ago

What a lot of common sense but nobody seems to be giving any thought to where the $700,000,000 is going to come from - just like GWB isn't.!
America is insolvent - it has no money OTHER THAN WHAT IT TAKES OFF PEOPLE by way of taxes and it only has that if it refuses to make payments on its massive international debts.
So what you are all talking about and what GWB is trying to institute is a massive hike in taxation to produce $700,000,000 that he can then say is saving the country.
Somebody does not have all his ducks in a row!

Thanks

Signature

You might not like what I say - but I believe it.
Build it, make money, then build some more
Some old school smarts would help - and here's to Rob Toth for his help. Bloody good stuff, even the freebies!

{{ DiscussionBoard.errors[142574].message }}

Henry Artz

16 years ago

If i were the gov i will lower the gas price & the tax rate & the interest rate, i believe the gas consumption & inventory report and retailer's sales reports, which are two of most important reports every world financial institution always watches, are going to rise then it might reduce the confidence of a recession. Combining them by giving monthly tax rebates might recover the buying ability of Americans. Month after month it might reduce the lending fear of financial institutions (the creditors) then hopefully the economy might recover because the creditors now have loosening their lending-criteria so Americans could use the borrowed money to improve their financial conditions.

If this works, I might get Paulson's job

Thanks

{{ DiscussionBoard.errors[142775].message }}

clint48

16 years ago

I would use most of the money to try and give States more control and the Federal Government less.

Clint

Thanks

{{ DiscussionBoard.errors[182438].message }}

jroh

16 years ago

I would buy the super wealthy lots of cheeseburgers...they're greedy, so they would want to eat as much as possible. Anything to move up the list of Forbes 100 fattest billionares. And once they got really big and fat we could redistribute their wealth right from under their noses.

Thanks

Signature

Physicians Billing Services

{{ DiscussionBoard.errors[185056].message }}

How Would You Spend $700,000,000,000 And Save The World?

Trending Topics

How do I effectively build and nurture an email list for affiliate marketing purposes?

Are billboards still effective in driving customers?

Are Solo ADs the Most Cost Effective Way to Promote your Product?

Been a while! Any of you Old Timers here?

How much does the rebranding affect CR ?