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

37 replies
  • OFF TOPIC
  • |
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 After 3 years the money can be withdrawn in tranches of $500 every 6 months.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
#$700 #save #spend #world
  • Profile picture of the author Steven Wagenheim
    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.
    {{ DiscussionBoard.errors[140629].message }}
  • Profile picture of the author KarlWarren
    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.
    Signature
    eCoverNinja - Sales Page Graphics & Layout Specialist
    {{ DiscussionBoard.errors[140630].message }}
    • Profile picture of the author Martin Luxton
      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
      {{ DiscussionBoard.errors[140645].message }}
      • Profile picture of the author KarlWarren
        Originally Posted by Martin Luxton View Post

        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.
        Signature
        eCoverNinja - Sales Page Graphics & Layout Specialist
        {{ DiscussionBoard.errors[140650].message }}
        • Profile picture of the author Martin Luxton
          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
          {{ DiscussionBoard.errors[140666].message }}
  • Profile picture of the author Michael Oksa
    Originally Posted by Martin Luxton View Post

    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
    Signature

    "Ich bin en fuego!"
    {{ DiscussionBoard.errors[140677].message }}
    • Profile picture of the author 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.
      Signature

      Something new soon.

      {{ DiscussionBoard.errors[140740].message }}
      • Profile picture of the author Lance K
        Originally Posted by Lou Diamond View Post

        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.
        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 }}
  • Profile picture of the author Henry Artz
    I'd give them all back to Americans by lowering the gas price and the tax rate and giving monthly tax rebate.
    Signature

    If you have a harem of 40 women, you never get to know any of them very well.

    Follow Me

    {{ DiscussionBoard.errors[140736].message }}
    • Profile picture of the author threeg5
      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
      Signature

      I Have a Free Copy of The Expert's Guide to Article Marketing
      You Learn What Article Marketing is and how to use it in your Business Model.
      It's Free Click Here

      * People Search * Click Here and see why, and how it is profitable.

      {{ DiscussionBoard.errors[140832].message }}
      • 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.
        {{ DiscussionBoard.errors[140869].message }}
  • Profile picture of the author Richie Bigrac
    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.
    {{ DiscussionBoard.errors[140744].message }}
    • Profile picture of the author Lance K
      • 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
      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 }}
  • Profile picture of the author xmx
    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.
    {{ DiscussionBoard.errors[140820].message }}
  • Profile picture of the author Martin Luxton
    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
    {{ DiscussionBoard.errors[140850].message }}
  • Profile picture of the author vorales
    Originally Posted by Martin Luxton View Post

    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.
    {{ DiscussionBoard.errors[140872].message }}
    • Profile picture of the author Martin Luxton
      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
      {{ DiscussionBoard.errors[140905].message }}
  • Profile picture of the author Tuzic
    Banned
    hi,

    i dont what i would do with so much money but aim for world peace.
    {{ DiscussionBoard.errors[140907].message }}
  • Profile picture of the author dvduval
    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.
    Signature
    It is okay to contact me! I have been developing software since 1999, creating many popular products like phpLD.
    {{ DiscussionBoard.errors[140917].message }}
  • Profile picture of the author Joseph Then
    I think the US government borrowed the money from Bill Gates and Warren Buffet...
    {{ DiscussionBoard.errors[140980].message }}
  • I'd use it to somehow convert the states to communism and tell everyone to shut up and share.
    Signature

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

    {{ DiscussionBoard.errors[141001].message }}
  • Profile picture of the author Daniel Molano
    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.
    Signature
    Como Ganar Dinero Por Internet - Spanish Make Money Online Site

    Daniel Molano
    - LinkedIn Profile
    {{ DiscussionBoard.errors[141082].message }}
    • Profile picture of the author HeySal
      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.
      Signature

      Sal
      When the Roads and Paths end, learn to guide yourself through the wilderness
      Beyond the Path

      {{ DiscussionBoard.errors[141118].message }}
  • Profile picture of the author Michael Oksa
    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
    Signature

    "Ich bin en fuego!"
    {{ DiscussionBoard.errors[141524].message }}
  • Profile picture of the author ofir
    Banned
    1.Support Shay Agasi and his electric car idea.
    2.Moving to Solar Energy all over the world.
    3.Supporting Africa.
    {{ DiscussionBoard.errors[141640].message }}
    • Profile picture of the author Mal Keenan
      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.
      {{ DiscussionBoard.errors[141742].message }}
      • Profile picture of the author myob
        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.
        {{ DiscussionBoard.errors[142122].message }}
  • Profile picture of the author valerieSONORA
    There is a documentary that talks about what caused the big economic problem- THE SUPER WEALTHY CAUSED IT

    Here's the link:
    Signature

    siggy taking a break...

    {{ DiscussionBoard.errors[141848].message }}
    • Profile picture of the author Phnx
      Originally Posted by annoyedgirl View Post

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

      Easy Weight Loss
      {{ DiscussionBoard.errors[144362].message }}
      • Profile picture of the author myob
        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.
        {{ DiscussionBoard.errors[144944].message }}
    • Profile picture of the author Lance K
      Originally Posted by annoyedgirl View Post

      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.
      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 }}
      • Profile picture of the author gareth
        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.
        Signature
        {{ DiscussionBoard.errors[145267].message }}
        • Profile picture of the author easy does it
          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
          {{ DiscussionBoard.errors[182384].message }}
  • Profile picture of the author artwebster
    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!
    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 }}
  • Profile picture of the author Henry Artz
    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
    Signature

    If you have a harem of 40 women, you never get to know any of them very well.

    Follow Me

    {{ DiscussionBoard.errors[142775].message }}
  • Profile picture of the author clint48
    I would use most of the money to try and give States more control and the Federal Government less.

    Clint
    {{ DiscussionBoard.errors[182438].message }}
  • Profile picture of the author jroh
    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.
    {{ DiscussionBoard.errors[185056].message }}

Trending Topics