The Bloggers With The Most To Say
The Financial Cirsis 8.1% Unemployment
We have had some really interesting discussions on 20b and of recent I have not seen a good thread, maybe I am not looking or just not too interesting in those threads.
The new unemployment figures came out this morning and it’s at a monstrous 8.1% with job lost in February being 651,000.
So I would like to encourage anyone who have loss their job not to feel so bad about it, I wish there was a magic answer to finding a job at this current time, but there is no such thing. I am really sorry for each and every one who has loss their job.
In my effort to create a good thread I would like to start this discussion with a current crisis that’s affecting each and every one of us.
It’s said across the media that Obama is taking too much of a big bite at one time, he should just focus on the financial catastrophe. He also mentions recently that health care is directly linked to the well being of the economy. Some may agree some may not!
The housing bill which I have not really gotten a change to read myself seems to be a good plan base on what I have heard on the news.
So I would like to hear your views on these topics.
1) The housing Bailout-IS it good or bad?
2) Do you think he is taking on too much at one time?
3) Is health care directly related to the financial crisis?
The new unemployment figures came out this morning and it’s at a monstrous 8.1% with job lost in February being 651,000.
So I would like to encourage anyone who have loss their job not to feel so bad about it, I wish there was a magic answer to finding a job at this current time, but there is no such thing. I am really sorry for each and every one who has loss their job.
In my effort to create a good thread I would like to start this discussion with a current crisis that’s affecting each and every one of us.
It’s said across the media that Obama is taking too much of a big bite at one time, he should just focus on the financial catastrophe. He also mentions recently that health care is directly linked to the well being of the economy. Some may agree some may not!
The housing bill which I have not really gotten a change to read myself seems to be a good plan base on what I have heard on the news.
So I would like to hear your views on these topics.
1) The housing Bailout-IS it good or bad?
2) Do you think he is taking on too much at one time?
3) Is health care directly related to the financial crisis?
Replies to This Discussion
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Permalink Reply by Brigid on -
1) I think it can be a good and bad thing. I am sorry but I do pay my mortgage on time every month. I honestly don't think it is fair for me to have to dip into my pocket to help out blow joe down the road that bought a house that is 3 times the value of mine on the same salary that I make and now he can't afford it because his wife got laid off and they are no long a dual income family because she has to draw unemployment which is no where near what she made in her job. Well guess what, my husband got laid off and we can still pay our bills because we made a choice to live within our means! So why should i pay for your stupidity, oh I know why, because there are so many stupid people out there like that that it is effecting almost every industry (kind of like the auto bailout). Should we let them lost their house, yes! I think a person like that should lose their house dfor sure. There should be a committee that would have to go over each case to see if the bailout should be applied to indiviuals.
2. He probably is but he has good intentions. He wants to fix it all at one time and as soon as he can because he knows so many people are suffering. I don't think it is going to work though simply because banks and companies have to be allowed to fail. That is how you cycle out of things. If you keep bailing everything known to man out, guess what, you just put us in a recession longer. Look at history, if you let the companies fail, the recessions of past have lasted a year or so, when the government bailed them out, recessions went on four YEARS!
3. Health care is a huge problem in our country and can be related to the financial crisis. As a person in our 20's we really don't see much of it because we are in good health. But try being a person in their 70's that has a house payment, fixed income, and than put medical costs on top of that? My mother pays over $300 every two months for health insurance and $30 a month for medicine. Once she hits her donut hole with AARP, her medicine shoots up to voer $100 a month!! That is a big chunk of change when you only get an X number of dollars a month. Do you realize that some seniors have to choose between their meds and groceries for that week!! It is alarming.
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Permalink Reply by JackoStain on -
I agree with some of what you said, however remember if blow Joe that lives down the road from you house foes in foreclosure that mean your house automatically values less and if this so happens to start a trend in your neighborhood you will soon in paying for a house that values maybe half of your mortgage, I think this is what the government is trying to avoid, believe it or not its best for you to house that Joe house does not goes in foreclosure because it will affect the value of your home. I have to applaud you on maintaining good financial standing even though you only have a single income. I know allot of people who are in your situation, thanks to saving and planning, good financial planning that is.
Thanks much for sharing.
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Permalink Reply by Mika...Dancing Through Life! on -
Since Obama took ofice I have joked with my friends often saying "Wow, Obama has been really working full-time". I DO think he is taking on alot at one time and very quickly but I don't see it as a bad thing. The first week he began, he signed an order to close Guantanamo Bay and I can remember being so excited and thinking he really means business! In my opinion, there has been no indication that him taking on too much rather quickly is negative...he is just working extremely hard and I actually like that. I hope he continues at this pace.
I might be wrong but I don't think the majority of the people affected by the housing crisis own houses they could never afford in the first place, it is those who could afford their houses but the state of the economy has prohibited them from being able to keep up with their mortgages. With that being said, I truly believe in this bail-out and I think it's gonna work.
As far as healthcare and the financial crisis... Of course they are directly connected and diddo to what Brigid said!
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Permalink Reply by d.muffin on -
Wow, lots of really amazing responses! I'm a bit on the outside looking in since I like outside of the US, but I think the sheer fact Obama is trying something is reason to celebrate!
As my very wise, very old-timey great-grandfather used to say, "What you don't spend at the grocery store you'll spend at the doctors office." Eating ramen, grilled cheese, and tuna every day will lead to scurvy.
I know that's not what you meant, but it's about the smartest thing I can add to this discussion!
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Permalink Reply by JackoStain on
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Well thanks for you’re sharing your view it’s really appreciated!
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Permalink Reply by Oats on -
The parallels between what is going on with our government from Bush's term through Obama's is scarily similar to the somewhat apocalyptic view that Ayn Rand described in "Atlas Shrugged" starting with the government taking control of the finances of businesses.
I've not studied economics so any solution I would have to offer would be uneducated guessing, however I do believe that the housing bailout is necessary, while some of the other bailouts seem to be cushioning poor management.
Obama is taking way too much at one time. He's also the president of America - a position that requires one to be more than human at times taking on responsibility of more than just America, and still keeping a smile on his face. Only time will tell if these plans work, but lollygagging along taking their sweet time to make moves is only going to drag this out longer as we sink deeper into a depression.
Health care may be linked to part of the financial crisis, but I don't think it's in any way responsible for it. While people complain about the high cost of medications - think of what would happen if prices were lowered. People working at pharma companies would be laid off in mass numbers because the research and marketing funds would be significantly cut. That's just pharma. Insurance costs may be high, but no country seems to have found a system that works well. Socialized medicine may provide coverage for all, but does it provide complete coverage for those that need it? Not in most cases.
In general, the housing bailout is a necessary step - as much as I'd rather see people that can't pay their morgages forclose and live in a house they can afford.
Obama is taking on what is necessary.
I do not think health care is directly related to the financial crisis. It may put pressure on some, but it's not really responsible and doesn't really contribute. Healthcare is one of the few industries that is somewhat stable through this crisis, with a constant need for more nurses, etc. The only factor I see that is hurting people is those that are laid off who will eventually lose their insurance. To them, get a job at a place like Starbucks when they start hiring again. Insurance with part time work....
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Permalink Reply by JackoStain on
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I do agree with allot of your sentiment
Well if you take in consideration that America subsidize health care and has such a high cost health care system when compared to Canada and Europe, if they really want to do something about the health care they should lift the band on import of pharmaceuticals. So people can get cheaper drugs from Canada, this will intern pressure the U.S base drug company’s to come up wit more lucrative means ok marketing and pricing their products.
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Permalink Reply by Mila G. on -
I just wanted to talk on number three. Healthcare is definitely going to be affected. Universal Healthcare is probably incredibly ambitious to do in these times. Although It was one of the things that I really hoped was going to happen. My job already switched us from health insurance to health saving accounts, which is like getting nothing so you never want to go to the doctors. I'm sure alot of businesses will cut benefits in attempt to keep employees. We visited our friends grandfather the other week and he told us they are starting to cut into medicare too. In theory, preventive medicine should lessen cost, and in the long run it probably could, but most businesses are doing cost-cutting which means switching over to some of these less holistic plans. So it might be a problem too big to fix at this time.
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Permalink Reply by JackoStain on
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well their is a new plan I was sold the other day, its works like a debit card, when ever we go to the doctor we swipe money get taken out, this was proposed to save our company money, so if you don’t go to the doctor you never pay for the pill, which is much better than the one we had before where we pay even though we never go to the doctor. This saves the company as well as the employees. This also has Claus yes there are limit so if your have pre existing condition they wont take you for the obvious reason you a potential risk.
I believe in universal health care.
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