This present economic situation/crisis brings various thoughts in my head. There has been a bail out passed in the US Congress and the banks have started receiving money from the treasury.
One things makes me go bonkers? Why is this whole emphasis placed on Consumer spending to bring the economy back? Why is there no emphasis on saving money for yourself, for your future?
Why is it not taught to individuals/companies/corporations that they also need to save to ensure that they remain afloat, their company/corporation will remain afloat?
Any ways an interesting article to read in NY Times...Bailout Is a Windfall to Banks, if Not to Borrowers
The article puts forward the fact that those banks who has got govt money are not interested in pumping back money to the common man, rather ensuring that they remain in good position for future. This in itself is not wrong, but does this serve the purpose for which the money was provided to the banks? That is the question that needs an answer
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