How to fix the economy?

[lbartels]

So I turned on the TV this fine sunday morning. It was on CNN. Turns out everyone is afraid of the slumping economy after the first hurricane did her thing for the season, in the states.

I'm not overly interested in that sort of stuff, so I haven't educated myself on it.

My idea is : So everyone one is afraid of potentially loseing their job since no one is spending money in all there perspective industries.

Starting from the bottom of the line. Wouldn't it work if the people continued the go out and spend the money.

In turn all the services that they are asking for gives someone else a job to earn money at to go spend.

In the small scale, taken nationally wouldn't that keep the threat of job loss away?

I hope to get an educated opinion from someone here.

 

[lexy]

the biggest problem with the economy is the country's all have to get their spending in order. You can not keep going into debt and think a miracle will get you out of this. The world is in a volatile place right now and it will be interesting to see what the outcome will be in the next few years.

 

[JaySimon]

I dumped $100 into the bar last night.


Just trying to help....

 

[Stompin Tom]

So I turned on the TV this fine sunday morning. It was on CNN. Turns out everyone is afraid of the slumping economy after the first hurricane did her thing for the season, in the states.

I'm not overly interested in that sort of stuff, so I haven't educated myself on it.

My idea is : So everyone one is afraid of potentially loseing their job since no one is spending money in all there perspective industries.

Starting from the bottom of the line. Wouldn't it work if the people continued the go out and spend the money.

In turn all the services that they are asking for gives someone else a job to earn money at to go spend.

In the small scale, taken nationally wouldn't that keep the threat of job loss away?

I hope to get an educated opinion from someone here.

Your theory in the simplest sense is correct, the bigger part of the problem is the stock markets control some much of the economy that its what the CEO's watch. If investors are afraid of a slowdown but your company doesn't do anything to protect itself and continues to spend, you risk losing investor confidence, next thing you know, no investors, then no company.

One of the biggest problems business has had to work with the is the fast paced new world media we now have. Speculation can lead areas into recession quicker than any other economic factor. Just talking about it can push it over the edge.

 

[lbartels]

Good input so far. I didn't take the bigger picture into scale and how it all inter-twines.

 

[4byrookie]

I dumped $100 worth of gas in the truck today and $60 in the car yesterday. Just doing my part to keep my job in the oilfield.

 

[ferniesnow]

It may take awhile but if everybody "bought" things (I mean paid for things without the credit crunch) we would be a lot better off. I know the financing of things has made purchases easier and it looks like the
economy is booming but take a look at people's debt load and give your head a shake. We're not too far from the American situation.....

In our little world of sledding; how many of the diesel pushers are financed, how many of the trailers, maybe even decks, are financed, how many of the newer sleds are financed, the winter trips are put on plastic and the minimum monthly payment is made and the card is maxed out. Then look at the summer toys on financing; quads, seadoo's, boats, RV trailers, the household items like computers, TV's, hot tubs, etc..

What is the final cost of our already high priced sleds when it is financed???? IMHO it is scary......just saying

 

[Summiteer]

Your theory in the simplest sense is correct, the bigger part of the problem is the stock markets control some much of the economy that its what the CEO's watch. If investors are afraid of a slowdown but your company doesn't do anything to protect itself and continues to spend, you risk losing investor confidence, next thing you know, no investors, then no company.

One of the biggest problems business has had to work with the is the fast paced new world media we now have. Speculation can lead areas into recession quicker than any other economic factor. Just talking about it can push it over the edge.

Corporate taxes should be tied to average employee number and income (not including executives). If a company has a big income and hundreds or thousands of well paid employees they don't pay a bunch in taxes. If they have high income, few or poorly paid employees then they get taxed to through the nose. Of course there would have to be a minimum at which this would take effect so that the small businesses wouldn't be destroyed.

 

[eclipse1966]

i have said it before but spending money doesn't necessarily bring benefits to N.America as too many goods we consume/buy come from Asia. We need to buy more products that are made in N.America to help keep the wheels in motion. Granted the Chinese will buy resources to produce these items sent but, manufacturing jobs are the ones putting people to work. Also, if you earn a buck dont get into the habit of spending a buck just to compete with the neighbour's toys. Very dangerous cycle to get in to.

 

[Stompin Tom]

Corporate taxes should be tied to average employee number and income (not including executives). If a company has a big income and hundreds or thousands of well paid employees they don't pay a bunch in taxes. If they have high income, few or poorly paid employees then they get taxed to through the nose. Of course there would have to be a minimum at which this would take effect so that the small businesses wouldn't be destroyed.

just what we need, a more complicated tax system with business's getting taxed more.

 

[Stompin Tom]

i have said it before but spending money doesn't necessarily bring benefits to N.America as too many goods we consume/buy come from Asia. We need to buy more products that are made in N.America to help keep the wheels in motion. Granted the Chinese will buy resources to produce these items sent but, manufacturing jobs are the ones putting people to work. Also, if you earn a buck dont get into the habit of spending a buck just to compete with the neighbour's toys. Very dangerous cycle to get in to.

double edged sword.

Everybody wants to make a great wage, have a high standard of living, yet we preach that we should buy more local products. Problem is the cross over between buying local and the high cost of manufactoring in Canada.

How many items that we use daily are actually made in Canada? If you went out and said for September 2011 I am going to purchase only Canadian made products for the entire month no matter what the cost, think you could do it?

 

[Summiteer]

just what we need, a more complicated tax system with business's getting taxed more.

Yeah, you're right, corporations shouldn't pay any taxes, the working stiff should pick up the whole tab.

 

[rzrgade]

If you overtax the corporations, the working stiff will no longer be working...lol

 

[X-it]

Who needs to work if you have money.......right??? The currency wars are about to start and the super rich are drooling over their mountains of money neeeeding way more. The spoiled young people are getting sick of it. Economy be fixed..ya right.

 

[quadboy55]

Economy needs a few bolt on mods. High performance economy.


Sent from my white iPhone 4

 

[eclipse1966]

double edged sword.

Everybody wants to make a great wage, have a high standard of living, yet we preach that we should buy more local products. Problem is the cross over between buying local and the high cost of manufactoring in Canada.

How many items that we use daily are actually made in Canada? If you went out and said for September 2011 I am going to purchase only Canadian made products for the entire month no matter what the cost, think you could do it?

That is the problem that we would be hard pressed to find our daily purchases made in Canada except for a lot of our food products. I personally bought two shirts made in Canada about 4 years ago. They were higher priced but not as much as one would expect. However the difference that I noticed is in the quality. They still look like the day I bought them. Anyway, I dont think we as Canadians face the same up hill battle compared to the Americans. We have natural resources and low population which is aging that should keep the wheels moving to a certain degree. Just my opinion.

 

[magnet]

its pretty hard to fix an economy in a country that imports 100 billion in products but only exports 10 million in products. jmo
please note numbers are not an actual representation just a estimate. however the actual numbers for the U.S. are probably not to far off.

 

[Stompin Tom]

Yeah, you're right, corporations shouldn't pay any taxes, the working stiff should pick up the whole tab.

Frankly I dont think you have a clue how much revenue governments collect from business's.

 

[green-horn]

1. I think all politicians and CEO's of large companies should work for lower wages.
2. Someone please explain to me how a higher Canadian dollar and low barrel price for oil=high gas prices for Canadians.
3. Why does a gallon/4litre jug of milk cost the same as a gallon of gas.

 

[Stompin Tom]

1. I think all politicians and CEO's of large companies should work for lower wages.

I think we should pay politicians a higher wage, a way to attract a better quality person to do the job.

As for CEO's, we are a free enterprise country, Im not looking to go commie any time soon, the more you can get, great. Companies have the right to try and attract the best they can to run their business's, high wages are one of the ways to do it.