How to help solve the financial crisis and make a ton of money doing it
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This is a powerful income production solution linked to addressing the financial crisis
The United States and the global economy is in the grips of the largest financial crisis since the Great Depression. How it's handled will determine the fate of U.S economy for years and generations to come. Every one is looking to the government for the bailouts and solutions. Obviously, given the apparent scope of the crisis, if the government does nothing, the financial crisis will deteriorate in the Great Depression of this generation with a return to 25-30% unemployment and bread lines. However, if the government bailout is not accompanied by effective non-government or private sector solutions, then the government bailout will only be a temporary prop or band aid over the underlying root causes.
With this in mind, the objective of this document is to introduce and promote a private sector or, better yet, a grass roots solution that, when coupled with an appropriate government response, will underwrite a long term and economically prosperous solution to the underlying root cause of the financial crisis. This grass roots solution offers extremely lucrative income production and wealth building opportunities to individuals who help implement the solution. So, as you review this document and interlinking internet portals, you will uncover extremely lucrative income production, wealth building and career expanding opportunities that's only limited by your attention to detail and the value of your professional contribution.
With this in mind, the objective of this document is to introduce and promote a private sector or, better yet, a grass roots solution that, when coupled with an appropriate government response, will underwrite a long term and economically prosperous solution to the underlying root cause of the financial crisis. This grass roots solution offers extremely lucrative income production and wealth building opportunities to individuals who help implement the solution. So, as you review this document and interlinking internet portals, you will uncover extremely lucrative income production, wealth building and career expanding opportunities that's only limited by your attention to detail and the value of your professional contribution.
The Motto for this Document
JFK's "Ask not what your country can do for you ......"
JFK's famous quote "ask not what your country can do for you, but what you can do for your country" has been around for years. So, why is everyone looking ONLY to the government to address the financial crisis. The underlying issues are deeply rooted and systemic and a government only solution is just a very expensive and temporary band aid. The real, long term solution must come from ground-up.
How did we get into this mess
First of all, forget out the blame game. Wall Street tycoons, the government as well as individual taxpayers contributed to this mess and it will take a combined effort across all sectors of the economy to get out of the mess:- Wall Street forgot about long term financial prudence and began focusing on the quick buck by creating sophisticated, but short term focused products such as derivatives, credit default swaps, subprime loans and a maze of others;
- The government effectively looked the other way, partly do to the influence of Wall Street lobbyist, but also because of its' bloated and outdated bureaucracy simply could not keep up with the wheeling and dealing on Wall Street.
- The tax payers also looked the other way with a short term focus, especially when they were enticed with home loans requiring little to no documentation (i.e. low doc loans), no down payments and adjustable rate loans with 1% start rates and flexible interest only payment options. The interest only loans were the perfect example of this short term focus on behalf of consumers. When considering that the long term goal of investing in a house is to eventually own it, what kind of sense does interest only payments make? Contrary to popular political dogma of the "poor unsuspecting consumer", most home owners and consumers knew exactly what they were signing. Home equity was rising at an unbelievable pace. So, most wanted to get in, hang on as long as they can and then cash out by either re-financing or selling. The consumer binge on credit cards debt also fed and continues to feed this monster.
So, again, forget about the blame game. The goal here is to rise above it and explore new thinking and new options that will have long term and lasting consequences and raise the aggregate standard of living for all national stakeholders.
The Root Causes has to with standard of living issues
The housing meltdown is at the foundation of this financial crisis. With this in mind, consider the following: If would be home buyers had money in the bank and/or the income to qualify for a home using traditional 30 year fixed loans with down payment, then there will be no need for all of the exotic subprime mortgage options. So, the root cause of this crisis can be traced back to the financial literacy and standard of living issues tied to the following three (3) root causes: - Root Cause #1: massive consumer debt
- Root Cause #2: the real income of the average U.S. worker/consumer is decreasing
- Root Cause #3: The rising gap between rich and poor
Think about it. According to Business Week, "U.S. household borrowed $2 trillion to $3 trillion more than they should have, based on historic patterns. Much of that excess debt --- taking from homes, cars and other consumer goods will not be paid back because many borrowers don't have enough income (Business Week, September 29, 2008, A Change to Find a Balance)." So, ask yourself, where does that money go? It has to be reconciled somewhere or some how. This unpaid debt represents the bad or ill-liquid financial assets which are clogging up the U.S. financial system requiring a government bailout. As you will see, collectively, these roots cause sets the stage for the financial crisis and will continue to undermine in real economic prosperity going forward if they are not properly addressed.
The Government Bailout does not address the root causes
The Government can not effectively address the root causes
The government bailout will not address the root causes. Unless we effectively address these issues in consort with government economic stabilization packages (i.e. bailouts), massive government borrowing will plunge the nation into more debt leading to higher taxes and ultimately a lower aggregate standard of living for generations to come.
The chart tells the story. The chart shows how the national debt has increased significantly as a percentage of GNP. Think of GNP as the national income where, just as an individual family, the government can only afford so much debt as a percentage of income. As this percentage increases, the amount of money needed to service the debt will continuously drain more and more resources out of the private sector in the form of higher taxes. So, with the debt approaching 70% of GNP (chart), it's easy to see that the government can not borrow endlessly and continuously without long lasting consequences. As a result, given the scope of the root causes, the government can not possibly address them with either fiscal or monetary policy.
Addressing the Root Causes
To address the root causes, the solution must involve the corporate sector, the grass roots (consumer) sector as well as the government sector. The grass roots sector must lead the way. The Grassroots sector must lead the way
According to Dictionary.com, the term grass roots is defined as: of, pertaining to, or involving the common people, esp. as contrasted with or separable from an elite. Just reflect back on the fact that grass roots consumers borrowed $2 trillion to $3 trillion more than they should have. Now, of course, Wall Street and the overall financial system made it easier and easier for consumers to do so. But, nevertheless, the consumer are the ones who are debt and the consumer is not being or can not be bailed out by the government. With this in mind, the solution to the root causes must start with grass roots individuals. Help launch the grass roots solution and earn a ton of money doing it
Tthe grass roots solution offers immediate and multiple income producing and wealth building benefits to those individuals who actively get involved early and help launch, implement and carryout the solution starting immediately Call to Action : Handle your own business first
Handle your own business first by paying down bills, building up savings and establishing a strong financial foundation with little to no debt and high savings. The solution is simple. However, implementation is difficult.Given all of the demands on the average family's income and downward pressure on wages, establishing and then committing to debt reduction and wealth building plan is hard. So, you have to treat it like a business decision. In business, when you need something done that's outside of your field of expertise, you outsource the work to an expert in that field. The same applies here. Outsource the debt reduction and wealth building work to an expert organization. This is debt reduction and wealth building made easy.
Start by reviewing the AVERAGE AMERICAN MILLIONAIRE VIDEO. The video summarizes the value of the services offer by Financial Destination (FDI). FDI is effectively an outsourcing solution for your debt reduction and wealth building goals.
Financial Destination offers you the opportunity to establish realistic goals (i.e. your debt free date) and a realistic plan toward reaching the goal. You can get started today by signing up and becoming a member of FDI. Any questions, contact me at dchestnut50@yahoo.com
Call to Action II: Prepare to Share the Crusade and Make a Ton of Money
Share the wealth building crusade with others. Set-up as an FDI Affiliate and earn a lucrative part time income. Review the FDI Overview. When ready, set-up as an FDI marketing affiliate. Several sign-up and membership options are available. Then refer others to FDI and earn a significant part time income using the get set-up, market and grow your business recommendation noted below. Any questions, contact me at dchestnut50@yahoo.com Call to Action III: Get Set-up, Market and Build Your Business
How do you share the crusade?? Here's are some ideas: - First, get set-up as a FJI Affiliate as noted above under Call to Action II;
- Once set-up, you will receive your own personalized FJI marketing websites and presentations.
- Next, set up your own Squidoo.com lens similar to this one. It's easy to do and it's a great way to personalize and share your viewpoint of the financial crisis as well as the wealth building crusade. You can link your FDI Affiliate websites and presentation to your lens similar to the way it was done here.
- Once your Squidoo.com lens is set-up, market and promote your lens in social networking sites. If possible, target discussion forums where individuals are discussing and posting comments regarding the financial crisis.
In general, Squidoo.com offers you a free opportunity to market and promote this crusade from your own personality and viewpoint on the front-end while linking to your corporate FDI websites and presentations on the back-end. Of course, if you choose to, you can add additional business or distributorship websites to your lens.
Want to get a better idea of what the bailout is and how it might effect you? See the books below!
Bailout: What the Rescue of Bear Stearns and the Credit Crisis Mean for Your Investments by John Waggoner
What You Can Learn From The Meltdown In The Credit more...0 points
Bailout Nation: How Easy Money Corrupted Wall Street and Shook the World Economy by Barry Ritholtz
A Wall Street insider's look at how the Fed shifte more...0 points
Bailouts or Bail-Ins: Responding to Financial Crises in Emerging Markets by Nouriel Roubini, Brad Setser
Roughly once a year, the managing director of the more...0 points
Too Big to Fail: The Hazards of Bank Bailouts by Gary H. Stern, Ron J. Feldman
The potential failure of a large bank presents vex more...0 points
BailOut 2008: The Full Details on the Historic Wall Street Government Rescue Plan by U.S. Government
First there was Bear Stearns. Then Fannie Mae and more...0 points
created by LouieWpHs04
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- RinchenChodron RinchenChodron Nov 15, 2008 @ 10:19 am
- Very well written. Welcome to the Activists Speak Out Group!
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- anna_michaels anna_michaels Nov 14, 2008 @ 8:42 am
- Welcome to the Something Can be Done about it Group! I like that your lens promotes responsibility. I never really believed in the whole "take out a loan" theory.
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- Oct 18, 2008 @ 8:30 pm
- It seems the US government has failed to take into account root causes. Unless grass roots are addressed whatever action taken will only aggravate the problem.
Karunan
http://www.mobileonlineshop.com
by dchestnut
Dwight B. Chestnut, aka dchestnut, is an ex-engineer turned business consultant and entrepreneur. His core focus and passion is introducing and teachi... (more)
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