October 19, 2008 at 4:14 pm
Id like to make a comment from a completely different point of view.
The worry in most people's minds seems to be that their economy will stop growing, or even shrink over the next couple of years before everything gets back to normal and the world resumes its steady 2-3 % per year growth.
If, and when we do return to 'normal' rates of growth we can look forward to the world economy doubling (at least) within the next 50 years or so. And at the same time world population will grow from 6 billion to about 9 billion.
If we are to achieve a safe level of CO2 emissions (about 5 billion tonnes globally, according to the IPCC) by 2050, we need to cut back from the current level of 28 billion tonnes. To do so with zero growth, citizens of developed countries need to lower their CO2 emissions to a level comparable with the people of India today. To do so with 'normal' economic growth the efficiency gains will need to be several times higher (around 10+ times as efficent as we are today).
Unlimited economic growth is an absurd notion. We live on a finite planet. What is needed is a way to reduce economic growth without causing chaos, not ways to run ever faster towards the ruin of our grandchildrens lives.
October 20, 2008 at 1:15 am
Steve, what have you done! You opened a real can of worms here. The way everybody is talking we are all going to lose our jobs, homes and all our possessions! Well, not all posts were negative but I want to tell you all something. Me and my wife bought a house last year in June. November she got fired due to health issues (unfairly) and was unemployed for 9-10 months. I already saw the bank coming to take our house away but I decided to keep my faith and carry on. She is now working again for 3 months but we are sitting with a big arrears on our house and some other debts. After negotiating with the bank for an extention on the bond which they still did not give me I just pay whatever I can every month and as long as I pay no-one can do nothing to me. They are now threatening (that is two banks in South Africa) to grab your salary as soon as it is deposited into the bank. I go to another bank and open an account there and have my salary paid in there. Still I pay just as much as I can and they can do nothing to me.
I will lift up mine eyes unto the hills. From whence cometh my help? My help cometh from the Lord that created heaven and earth.
:-PManie Verster
Developer
Johannesburg
South Africa
I can do all things through Christ who strengthens me. - Holy Bible
I am a man of fixed and unbending principles, the first of which is to be flexible at all times. - Everett Mckinley Dirkson (Well, I am trying. - Manie Verster)
October 20, 2008 at 1:47 am
There's a lot of frustration around that we can't do much about the financial situation and it all looks gloomy. One suggestion for the next weekend - grab a spade and dig the garden to work off that frustration and save by growing your own vegetables.
Rediscover crafts and make things for yourselves and your home. Life doesn't have to be expensive branded designer fashion. Then add up the savings.
October 20, 2008 at 4:46 am
P Jones (10/20/2008)
There's a lot of frustration around that we can't do much about the financial situation and it all looks gloomy. One suggestion for the next weekend - grab a spade and dig the garden to work off that frustration and save by growing your own vegetables.Rediscover crafts and make things for yourselves and your home. Life doesn't have to be expensive branded designer fashion. Then add up the savings.
There's something to be said for this advice. A few months ago a member of my Toastmasters group spoke on her hobby, gardening. To share with all of us, she brought in tomato plant seedlings, of which two I took home. I planted them in a container, like she does, and we've watched 'em grow. We had to transplant them once more, but overall the tomato plants have done well.
Now, my mom grows a huge garden each year and my dad loves tomatoes, so I've learned over time how to care for them. I remember having to tend to the garden when I was growing up and it always seemed like a big deal. I thought about what I liked and what I didn't and to be truthful, container gardening solves most of the dislikes. But in any case, I was able to pass on those likes to my boys and 3 year-old daughter. You want to talk about joy? The boys were excited as they watched the plants grow and as they got the first tomatoes off the vine (and before they wouldn't eat tomatoes). They felt the disappointment I did when we had to check 5 or 6 of them after the birds got to the ripening ones. They also were going around saying, "We'll show those birds!" when we started using zip lock bags around the growing tomatoes and didn't lose a single one afterwards. As for the girl, she loves it as they ripen. She'll talk about for days how she's going to pick another tomato. And when that time comes, she's giddy and cackling and loves it.
And all this because of two little tomato seedlings.
K. Brian Kelley
@kbriankelley
October 20, 2008 at 8:30 am
Manie,
Good luck and hope things improve.
And if anyone else wants to grab a shovel...
come on over. Always things to move around here. :w00t:
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October 20, 2008 at 9:11 am
Steve Jones - Editor (10/19/2008)
One thing I like,.........................
A few more:
- Expire laws, give them 20, 30, something years, then they're gone.
Amen to this one! If every law (Exlcuding the Constitutional Ammendments) had an expiration date so that the government would be required to revisit it and vote on it's re-actment, we'd see far fewer junk laws hang around since the group of congressmen that were paid to pass something in Year X would no longer all be there come year X + 10 when the bill's expiration comes due. It would also cost the special interest a lot more if theyt had to keep getting something re-enacted. My only difference here is shorter expiration time frames then you have proposed. I believe every Bill should have an expiration date between 5 and 10 years with the difference being based on what it covers (i.e. security vs. finance) and if it is a Bill worth keeping around more then 10 years then it's renewal is most certainly ensured.
- Zero based lawmaking. You want a new law, repeal an old one (Andy Warren's idea)
I think you're onto something here but I do not believe the whole 1 for 1 idea is reasonable. Guaranteed expiration dates is the best way to ensure junk laws don't stay.
- Balanced budget - I'm not sure government at the state/local level can function like this since they need capital improvements, but national governments have shown they cannot handle this. Across the board percentage cuts to make things work. It his defense as well as welfare, that's the price we pay.
I'll take that a step further and say a Balanced Budget is a legal requirement that comes with some form of punishment when broken. If they don't balance teh bidget then they go to jail, pay heavy fines or get kicked out and loose their seat in congress. That will make them look at our budget like we average citizens hgave to view our own personal finances.
- Term limits, don't care what they are, just get them in there.
No one should make Politics a career; at least not a career in one particular level. I can see spending a career in politics by working your way up from county level rep to federal representative to president but no one should be in the same political seat for more then 10 years and even that is possibly too long.
- Fundamental credit laws for everything. A house loan is the same as one for an iPod from Best Buy. No slick packaging, simple rates, simple financing. I think the "creativity" that has been employed is responsible for a lot of our problems.
There should be a law requiring the simplification of paperwork. It shouldn't take more then a few poages of text to say "I agree to pay you $X in payments of $y over Z periods and if I am late the exact amount I pay and when is calculated as .." . And by all means no agreement should be legal if it contains the text or anything like this, "Lender has the right to change any or all parts.."!
- Respect for each other. No idea how to implement this, but I see less and less of this from the Dems and GOP.
Sad but true. I believe it's time for a Congresional Reset. If the majority of Americans would vote for third party candidates only so as to kick both the Democrins & Republicrats out of power we would see REAL change. Sure it may be scary at first because for at least as far back as matters, one of these 2 parties controlled 1 or all 3 parts of the federal government. WIth all third party candidates and perhaps a few Democrats & Republicans, all would be forced to actually work together.
Kindest Regards,
Just say No to Facebook!October 20, 2008 at 7:01 pm
Heh... I'm not a religious man, but what ever happened to following the original 10 laws? They're well written and cover, quite literally, a wealth of sins. 😉
--Jeff Moden
October 22, 2008 at 1:47 am
YSLGuru (10/20/2008)
There should be a law requiring the simplification of paperwork. It shouldn't take more then a few poages of text to say "I agree to pay you $X in payments of $y over Z periods and if I am late the exact amount I pay and when is calculated as .." . And by all means no agreement should be legal if it contains the text or anything like this, "Lender has the right to change any or all parts.."!
We have this in the UK now, it's called a Key Facts Illustration (KFI).
You get all of the long winded terms and conditions, but you also get one of these with every financial quote and agreement you accept. It covers a whole host of stuff, but simplifies it all. Key things include the total amount to be repaid, the monthly payment, the cost for each £1 you are borrowing, information on any fees payable and who they are payable to, insurances included etc etc.
It's basically a nice, simple bulletpoint list.
Fabuloso
October 22, 2008 at 1:59 am
I live in Japan, so the credit crunch has not really hit here yet, I am kind of likeing it at the moment as its really good for us to send money back to the UK. The pound to the yen has dropped so much in the last 3 months that I can make 30% on any money sent back great, maybe people should be looking at fx and not shares. I was reading that the pound is set to get as low as 1.40 to the dollar and 152 to the yen. I think people should start buying yen and dollars. 🙂
As for this crap about the US not being in a recession wake up and smell the roses you are, you might as well own up to it do what you can to stop it and wade it out till the good times then have the balls to save for the bad times.
also dont buy your son a car, What is it with Americans always buying big things for there kids. Where is there incentive to go and earn money. Either buy one and rent it to them till its paid off or make them get a job and buy one. my first car was a mark 1 escort I bought it myself it cost me 50 pounds, the insurance cost me 400 lol but it was mine.
T
October 22, 2008 at 2:29 am
terryj30 (10/22/2008)
I was reading that the pound is set to get as low as 1.40 to the dollar and 152 to the yen. I think people should start buying yen and dollars. 🙂
Unfortunately, with the pound being lower than the dollar and the yen I think we (in the UK) should be selling yen and dollars at the moment.
Based on what you said though, it's a good time for the Japanese and the Americans to be buying Pound Sterling and hanging onto it until the UK economy improves.
October 22, 2008 at 9:42 am
Good thoughts and we're not buying him a car, at least not completely. We're matching what he's earned and he has the upkeep on the car. Where we live, he doesn't have good options for moving around, getting to work (he had to get a job to get his license), etc. He's going to learn to earn with this. We've just decided that it's not like when we were younger or like some of his friends where he can walk/bike to things. We're 9 miles from any job and a few hundred feet in elevation, so it's not practical. We're in a good position, so we can help him. But it's not a free ride.
Don't want him to get into his own financial crisis either, so hopefully he's learning a few things.
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October 22, 2008 at 9:52 am
Best way that I've seen to convince kids to be responsible and interested in improving their options is to get them a summer job doing physical labor. Public Works sewer/park/street temp employee, construction demo, fence building, working on a chicken farm. At first they seemed intrigued, lower level of obvious responsibility, less need for self initiative etc, but then the charm goes away.
October 22, 2008 at 2:17 pm
Steve,
You brought up great points in your post on 10/19/2008 11:32:11 AM, too many for me to quote and reply to.
I listed to the debate between Senator Lindsey Graham and Bob Conley for one of those to represent South Carolina in DC as Senator. One of the moderators asked a question involving his father. His father is 60 years old and worked for a textile mill but the company recently closed. The question asked "what were each going to do to stop the loss of jobs". Conley's response was to stop the exporting of jobs overseas. Graham's response was job retraining. Given this particular instance, the person is very close to retirement! Retraining doesn't seem like an option. Also, his father probably lives in a rural community where there is very little opportunity in another field. Geez, telling a 60 year old man to go back to school to train for another job... Graham obviously did not listen fully to the question or understand the situation.
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