Credit Crisis Means States May Need Help From Federal Treasury
States are struggling to pay for day-to-day operations with the frozen credit markets
That may leave borrowing—from the federal government, if necessary. The Federal Reserve's decision this week to start buying up short-term debt could loosen up the credit markets enough that states will be able to get loans from someone other than the feds. With the market in disarray, though, experts aren't sure what to expect. "Like everything else in this that we've experienced in the last few weeks," says Baldassare, "it's hard to say if it's enough, but it's recognizing that there's a problem and that's a start."
Reader Comments
Credit Crisis
The Worldwide DEBT is the problem.
The best solution for the present economic crisis would be a REBOOT or restart of the entire debt system for the ENTIRE WORLD.
1. A data base listing ALL DEBT, government, business and personal needs to be created. The list would need to list the debt and debt holder with a bank that could make an accounting of the debt. Included would be all national debt of all nations, all mortgages car notes and credit cards for individuals. All outstanding bond and other debt for corporations, The idea is to list ALL DEBT of any kind owed.
2 . Every government on the planet would need to call a special session of it’s legislature.
Using the same authority that governments have to use or create FIAT CURRENCY the legislatures and Central Banks need to authorize the creation of ACCOUNT CREDIT in an amount equal to all the listed debts in the world.
3. The Various governments and Central Banking Systems then need to make an accounting change equal to the debt in the form of an ACCOUNT CREDIT or CREDIT zeroing out ALL THE DEBT in the entire world, and crediting all debt-holders in the world.
The following day the economy of the entire world would restart and the Stock Markets of the world would react to the new renewed capital in the banking systems, the Capital now available to restart all business and the disposable income to the individual people would restart and grow the retail sectors and the manufacturing sectors of the entire world.
Allen Charles Report
http://allencharlesreport.blogspot.com/
..Credit Crunch ?.?
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..For years they sit back and do nothing but reap the riches of their profits -.-.-.- Banks pay 3 or 4 % interest while charging 22% on credit cards - now the politicians while all the time on the gravy train cry about credit interest rates...
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...Whoa - all the time the public got ripped off was great, their palms were greased......now it's a different story -.-. BUT you have to notice they still have their backs turned on the working class that pays all the bills in this country...
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...Giving money away like water -.- Billionaire Mike Bloomberg -Mayor (????) of New York City never stood up to Wall Street - the (PATRIOTIC) Yankees & and let's include the METS .-. Gimme This Or Gimme That - OR I WILL LEAVE.......interesting how the financial crunch is now ours not his (THIRD TERM ?.?)
What credit crisis brings us
Credit crisis brought us economic downturn, but simousneously opportunities for self-devlopment. For example, oil price rise causes us to re-think economical structure that doesn't depend on oli-based electricity. This time, we have to change the channel to debt the money. To make money deposit, you should use FX or new financial product whose commision is very cheap or complementary? All you have to do is to change your mind according to the situation change. I recommend that business speed-up shoul improve it.
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