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Debt Crisis

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DrewAGHDrewAGH Forumite
4 posts
First Post

First of all I would like to say Hi to any forum members who read this, I joined the forum for one reason only, to try to get a conversation going on a solution I have come to the conclusion is the only way out of the financial catastrophe that is facing the whole world, and the reasoning behind my thinking.   


  1. All the countries of the world have been effected by the Pandemic.
  2. Many of the biggest economise in the world still have major debt’s on there books from the banking crisis of 2008.
  3. This world has never been put in a lock down situation like this before. There is not a financial expert on this planet, who can truly say exactly what the consequences will be.
  4. One facts we do know, is there is a awful lot of money being borrowed at the moment, that will have to be paid back.
  5. Know one knows how this Covid-19 Pandemic will play out, Scientist differ on there advice from wearing face masks, to how long it will be, before a vaccine is available.  
  6. So as ever country in the World is in the same situation, lets take a join approach to the debt’s.
  7. Suspend the worlds financial markets, freeze the currency rates at what they were trading at.  Print the money to pay off all the debts, caused by the pandemic, and keep printing it for the pandemic aftermath. Then once we have a stable situation, we can restart the financial game that is normally played out on this planet ever day. 
  8. The benefits of this approach is that the World is not plunged into a recession / depression, mass unemployment, with the humane misery and pain, that it will cause.          
  9. Also remember there is the Elephant in the room, Global Warming which has started to make its presents felt, and like Covid-19 will turn the world up side down. Governments will have to find Billons to deal with the damaging effects that it will have on there countries. Which equals more debt.
  10. We the human race are all in this together, that how you have to look at the situation.   


Money is a good Servant, but a Poor Master.  DrewAGH


Replies

  • montyrebelmontyrebel Forumite
    617 posts
    Part of the Furniture 500 Posts
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    printing endless money makes it worthless, look at zimbabwe for example
    mortui non mordent
  • edited 14 June at 9:23PM
    JamoLewJamoLew Forumite
    517 posts
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    edited 14 June at 9:23PM
    maybe go study Economics a little bit and then rethink your cunning plan.
    Inflation or even hyper-inflation would be very very bad with interest rates as low as they are
  • pogofishpogofish Forumite
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    And the moneysaving campaign is....?
  • DrewAGHDrewAGH Forumite
    4 posts
    First Post

    Thank you for your reply to my posting. The reason why Zimbabwe government got into trouble when it started printing money to get them selves out of trouble, is all down to the sanction that have been placed on that country by most of the western countries governments because of it humane rights abuses, rigging election’s, and there treatment of the opposition party. So when they started printing money to get them selves out of trouble, the financial markets simple devalue there currency.       

    This crisis is not of any countries making, and it has effected every country in the world. But by the major world trading nations joining forces and working together, and suspending the financial markets in each of there countries. There can be no run on any countries currency, when they start print the money to pay off the debts that they have incurred because of the Pandemic.  

    The alternative, if we go down the normal root of dealing with a crisis such as this, is to have  millions of people loosing there jobs, and the domino effect that will have, with more people loosing there jobs. Recession, depression, Austerity which will just bring pain and misery to millions of people. 


  • DrewAGHDrewAGH Forumite
    4 posts
    First Post

    The economics that you inform me I should study, are the problem, after all they were brought into being by humane evolution of the financial way that we have interacted with other countries over the centuries. These economics that govern this world will see millions of people loose there jobs around the world,  because of the debts that each country has taken on because of the lock down measures, due to the Covid-19 Pandemic. These economics will lead to recession, depression, Austerity with the pain and misery to million of people around the world.   


  • DrewAGHDrewAGH Forumite
    4 posts
    First Post

    Thank you for replying to my posting, yes you are right to ask what I am campaign for. I was so busy concentrating on trying to convey in a brief a statement as possible the reason why I had made the posting, that I forgot to put that at the end of my statement. So thank you for pointing that out. The campaign is to get Parliament to debate my radical solution, with the aim of getting the government to approaching other counties governments to see if they would consider taking a joint approach to dealing with the debt crisis that is facing the whole world. Which would require a petition with a hundred thousand signature, to have them debate what I am purposing.  


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