A Fresh Approach To Solving The Crisis

In this globalized world we must remember that it’s not just the US that’s going down, it’s the whole world. Have you seen any good news from any country in the last six months or so? Strain yourself and you might dredge some iota of optimism from somewhere, but in general it’s wishful thinking.

President Obama wants a “fresh” approach to the financial crisis, but buying toxic debt and stimulus packages sound like the old school approach to me. Have any bailouts or stimulus packages ever worked before? I think the Obama administration is just as insane as the previous one (if you believe the classic definition of the word). We actually do need a fresh approach to this crisis for everybody’s sake. 

I believe that if a company needs bailing out it is already beyond saving and will not contribute to the stabilizing of the economy in the future. Only successful banks and companies can possibly nurse the US back to health. I have to say that the bailout of GM was an extremely temporary measure and you can guarantee that management will be back for more soon. Have the bailouts created any jobs, helped working families, done anything at all? When you look at the dire employment situation you would have to say no.

The old system has failed but no-one wants to see it die. They will continue to support obscene payouts to banks instead of looking for fresh ideas which is what we desperately need. The burden of all this spending will be a tax burden that the ordinary citizen cannot bear. Everything that is being done now is exacerbating an already awful situation.

We must cut out wasteful spending and start to use money in a more reasonable, prudent way. We also must allow markets to get through this crisis with a more competitive philosophy by allowing failed banks and businesses to actually shut down rather than trying to turn them into toxic zombies that endanger the entire world.

This article was written by pianoneil. You too can write for RonPaul.com by joining us here.

  • Sean

    The entire auto industry is hurting, not just american companies. Toyota is probably doing the best off and they had to cut production almost down to nothing because auto sales have decreased so much.. If you would look, you would see that auto sales plumbited at the beginning of 2008 when the price of gas dramaticly increased.. When we think about free market, we have presume everything is in order. We can’t say that there is a free market when the prices of raw materials increase so much.. Are you going to tell me that we wouldn’t bail out electric companies if the price of coal got out of control??? No, we would bail them out just like we bailed out the auto industry because electricity is equally as important as transportation.

    • Nate D

      “we have presume everything is in order”. Most intelligent thing you have ever said. Bravo, you have you figured out the base of the problem. Now joins us. Here is small example to why things are failing in our current system. Although I don’t believe in every view, it is a good new start, and a new approach to this thing we call a society. http://www.thevenusproject.com

      • Sean

        thats nice. that would be perfect.. I tried to ask my urbanization teacher why we don’t build new cities and she told me that it was impossible because there couldn’t be the right kind of investment.. I see where she’s comming from but everything is possible. They are building a new mega city in india right now out in the middle of nowhere. They are building a river through this city thats supposed to hold millions of people.. I wrote a report on the threats of population from scientific journals. One of the things it talked about was cities would become so overcrowded and would cause dense levels of poverty.. It was an awesome paper, it covered like 10 critical issues from thousands of different published articles.