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March 31, 2009 03:09 AM
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Backing up all money with a gold standard, and getting out of debt. Some might argue that getting out of debt will actually hurt our economy. It would hurt our economy if we did it instantly. The good news and the bad news is that we can't do it very quickly. Debt might allow you to buy things now even though you can't afford them, but the interest you pay on it later, can't be spent on buying things etc. That doesn't mean we shouldn't pay off our debt though. We should all work on paying it off, (individually and as a country) so that we can spend money on actual items, not on debt. It would help our country, and even our World out in the long run.
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what practical solutions exist for modifying the international financial system to fix the monetary crisis?
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| April 08, 2009 01:26 AM | view on twitter |
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