I have the perfect solution to economic crisis

[DavidS]

The government seems to be printing out trillions of dollars by the day, so much so that the national debt clock in new york city needs 2 additional numbers so that it can go up to the quadrillion area. What if the United States government printed out 1 million dollars and sent it to EVERY single one of its citizens? Everyone who has a social security number gets 1 million dollars. Can you imagine how our economy would explode? Our GDP would be MASSIVE, the federal government's tax revenue would skyrocket so much we would be out of debt in a year, the DOW would go up 25,000 points in a day, restaraunts would be packed... it would be INCREDIBLE. The mortgage crisis would be over with because everyone could pay off their mortgages and the great depression would slip into the great manic! How much is 1 million x 300 million? 3 trillion? 30 trillion? Whatever it is, it would be chump change to the amount of tax revenue the government would rake in and how well the economy would do.

Seriously, what do you guys think? A million dollars for EVERYONE!

 

[Larkinn]

The government seems to be printing out trillions of dollars by the day, so much so that the national debt clock in new york city needs 2 additional numbers so that it can go up to the quadrillion area. What if the United States government printed out 1 million dollars and sent it to EVERY single one of its citizens? Everyone who has a social security number gets 1 million dollars. Can you imagine how our economy would explode? Our GDP would be MASSIVE, the federal government's tax revenue would skyrocket so much we would be out of debt in a year, the DOW would go up 25,000 points in a day, restaraunts would be packed... it would be INCREDIBLE. The mortgage crisis would be over with because everyone could pay off their mortgages and the great depression would slip into the great manic! How much is 1 million x 300 million? 3 trillion? 30 trillion? Whatever it is, it would be chump change to the amount of tax revenue the government would rake in and how well the economy would do.

Seriously, what do you guys think? A million dollars for EVERYONE!

You are joking, right?

 

[DavidS]

You are joking, right?

Absolutely not! The government prints money like its the latest issue of Time Magazine. Hundreds of hundreds of prints all of the time to pay for the most ridiculous things!

Ok, so the number is 300 trillion. $250,000 for everyone then!

 

[Inferno]

The government seems to be printing out trillions of dollars by the day, so much so that the national debt clock in new york city needs 2 additional numbers so that it can go up to the quadrillion area. What if the United States government printed out 1 million dollars and sent it to EVERY single one of its citizens? Everyone who has a social security number gets 1 million dollars. Can you imagine how our economy would explode? Our GDP would be MASSIVE, the federal government's tax revenue would skyrocket so much we would be out of debt in a year, the DOW would go up 25,000 points in a day, restaraunts would be packed... it would be INCREDIBLE. The mortgage crisis would be over with because everyone could pay off their mortgages and the great depression would slip into the great manic! How much is 1 million x 300 million? 3 trillion? 30 trillion? Whatever it is, it would be chump change to the amount of tax revenue the government would rake in and how well the economy would do.

Seriously, what do you guys think? A million dollars for EVERYONE!

Even 100 grand would do the trick. Debt free America we would rule the world. It would be a great idea. Until they started passing out credit cards again and we would fall into another black hole.

 

[DavidS]

Even 100 grand would do the trick. Debt free America we would rule the world. It would be a great idea. Until they started passing out credit cards again and we would fall into another black hole.

Then you outlaw credit cards and mortgages. No more loans. You can invest in companies, but you can't loan money to them. Loans and credit are now illegal.

 

[Larkinn]

Absolutely not! Ok, so the number is 300 trillion. $250,000 for everyone then!

Inflation....its the equivalent of wiping of savings and debts for most of the middle class, by making the savings and debts such low numbers as to be worthless.

Sure you get rid of the debts, but you also fuck over the people who haven't been irresponsible idiots.

 

[Larkinn]

Then you outlaw credit cards and mortgages. No more loans. You can invest in companies, but you can't loan money to them. Loans and credit are now illegal.

Awesome...so nobody can go to college or graduate school now. We are sure to be winners from that awesome idea. Not many will be able to buy houses, or cars anymore either.

 

[DavidS]

Inflation....its the equivalent of wiping of savings and debts for most of the middle class, by making the savings and debts such low numbers as to be worthless.

Sure you get rid of the debts, but you also fuck over the people who haven't been irresponsible idiots.

How so? If i have $10,000 in savings, how am I being fucked over by everyone getting a million dollars? I get a million dollars too. Every homeless man gets a million dollars. Every rich person gets a million dollars. Everyone. Gay, straight, Jewish, Christian, White, Black... every American with a social security number. And those who are under 18 are given a CD with a 1 million dollar investment. If you have a 4% interest rate recurring every month on 1 million dollars for 18 years... well, you make a lot of money.

 

[AVG-JOE]

The government seems to be printing out trillions of dollars by the day, so much so that the national debt clock in new york city needs 2 additional numbers so that it can go up to the quadrillion area. What if the United States government printed out 1 million dollars and sent it to EVERY single one of its citizens? Everyone who has a social security number gets 1 million dollars. Can you imagine how our economy would explode? Our GDP would be MASSIVE, the federal government's tax revenue would skyrocket so much we would be out of debt in a year, the DOW would go up 25,000 points in a day, restaraunts would be packed... it would be INCREDIBLE. The mortgage crisis would be over with because everyone could pay off their mortgages and the great depression would slip into the great manic! How much is 1 million x 300 million? 3 trillion? 30 trillion? Whatever it is, it would be chump change to the amount of tax revenue the government would rake in and how well the economy would do.

Seriously, what do you guys think? A million dollars for EVERYONE!

That's sweet, and I like the way you're thinkin', but run along now and let the grown-ups talk.

I'm kidding! Unless of course you're serious...

-Joe

 

[DavidS]

Awesome...so nobody can go to college or graduate school now. We are sure to be winners from that awesome idea. Not many will be able to buy houses, or cars anymore either.

Absolutely. College should only be reserved for those who actually seek knowledge, not for doing everything you can to get a piece of paper that means nothing to you.

A typical car costs $30,000. If you have a million.... uh, I'm not sure... I did go to college, so I think you have money left over.

 

[Larkinn]

How so? If i have $10,000 in savings, how am I being fucked over by everyone getting a million dollars? I get a million dollars too. Every homeless man gets a million dollars. Every rich person gets a million dollars. Everyone. Gay, straight, Jewish, Christian, White, Black... every American with a social security number. And those who are under 18 are given a CD with a 1 million dollar investment. If you have a 4% interest rate recurring every month on 1 million dollars for 18 years... well, you make a lot of money.

Because of inflation. There is approximately 780 billion dollars of US currency in the world. However much of that is outside the US, so these estimates will be conservative, and inflation would likely increase by much more.

Ok. We have 1,000,000 (amount everyone gets) times 300,000,000(population). That equals 300,000,000,000,000. Thats 300 TRILLION dollars. That means that the price of everything will go up by over 300%. So everything triples in price, and suddenly 1 million isn't that much anymore. Keep in mind these are conservative estimates.

Nor is the 10k I have in savings very much anymore either, since inflation has made it effectively worthless.

Absolutely. College should only be reserved for those who actually seek knowledge, not for doing everything you can to get a piece of paper that means nothing to you.

Seeking knowledge has nothing to do with hoiw much wealth you have pre-college.

A typical car costs $30,000. If you have a million.... uh, I'm not sure... I did go to college, so I think you have money left over.

Except it won't cost that much after the awesome inflation your plan causes.

Inflation doesn't, however, effect past debts, which is why the money would get rid of them. But it would also get rid of past savings by responsible individuals.

 

[user_name_guest]

OP, go to this link Some Interesting Facts About Paper Money: Zimbabwe Inflation Rate Hits Over 9 Million Percent

A country in Zimbabwe has people making millions. The only problem, inflation is at 9.030 million percent. Even though a teach salary is 66 billion in Zimbabwe currency, $1 us dollar = 64 billion Zimbabwe. Loaf of bread in their money = Z$2 billion. Bottle of Beer = Z$16 billion.

Yes, go ahead and print paper monopoly money. It ain't going to do anyone any good.

 

[DavidS]

Because of inflation. There is approximately 780 billion dollars of US currency in the world. However much of that is outside the US, so these estimates will be conservative, and inflation would likely increase by much more.

Ok. We have 1,000,000 (amount everyone gets) times 300,000,000(population). That equals 300,000,000,000,000. Thats 300 TRILLION dollars. That means that the price of everything will go up by over 300%. So everything triples in price, and suddenly 1 million isn't that much anymore. Keep in mind these are conservative estimates.

No problem. No company, private or public, can raise their prices by more than 10% in the next year. That eliminates inflation.

 

[Larkinn]

No problem. No company, private or public, can raise their prices by more than 10% in the next year. That eliminates inflation.

Sure, and when you make everyones prices so low, nobody will want to work so nothing will get done, and imports would stop, since the US government can't control that.