Leaving your own interests to one side, can you answer this?

Thrugelmir

illgetthere wrote: »

We all have our own VI's, but leaving them to one side, and whether is helps or hurts your own personal situation, can anyone actually come up with a proper solution to our current economic crisis?

Firstly people need to adjust their own expectations and be more responsible for their own futures. As the working population continues to grow. Then we may have to share paid work more equally. In a sense become more of a community again rather each being focussed on our own interests.

originalmiscellany

I think it's a hard qn, and it's been progressively gotten worse for several years, so what we're facing now is actually a lot worse than it would be 10 years ago.
We need to all accept a huge change in work conditions, take responsibility for our debt (I'm repeating Thrugelmir here) and accept that if we spent when our time was good individuals need to repay when times are hard.

However this means that for MANY people, they're going to be hugely in debt for many years until they clear the waste of the past 10 years.

HAMISH_MCTAVISH

illgetthere wrote: »

can anyone actually come up with a proper solution to our current economic crisis?

The solutions now are exactly the same as they've always been.

1. Grow the economy

2. Inflate the debt away

3. Reduce the size of the public sector, and increase the size of the private sector.

None of these things will happen overnight, the rebalancing will take years and involve both monetary stimulus and fiscal restraint, but it's entirely achievable in the long term.

sheffield_lad

Cut public sector spending properly. IE not this small cut but a savage cut.

Using the savings cut income tax

Print more money to keep inflation high (we are due a major drop next year if not), in order to cut the debt (over a trillion)

Sounds hard but when your in this fix we need people to spend money to enable company's to employ more workers.