Wednesday, October 10, 2012
RT America: The Big Picture: Now Ireland is Nationalizing the Banks
I like the idea of debt forgiveness for people who are drowning in debt on their homes, as a result. Of the "Great Recession", debt forgiveness for people who borrowed money they couldn't afford to pay back, is a bad idea and we shouldn't be bailing out banks who gave out loans to people. Who couldn't afford to pay them back either but bailing out people who are drowning financially, because they are either out of work long term or because of the housing crisis, owe mortgages. That they now can't afford to pay back, again because of either the housing market, they are unemployed or are working for half or a third of what they use to make, before the "great Recession". Or a combination of all of these factors, makes sense, Consumer Spending right now is so weak and as a result our Economic Growth right now is so weak, because not. Enough Americans have enough money to spend to keep our economy growing strong right now and a good debt forgiveness plan, would free up money to be spent in the economy.