What should be done to get the economy out of recession?

[Reverend Rick]

I know this may be unpopular, but sometimes you just have to let things crash to let the healing begin.

I have no confidence that the government can fix anything no matter how much money they spend.

The government gave the banks money and turned around and crippled them with new requirements that makes it almost impossible to give commercial loans to QUALIFIED CUSTOMERS!

Right now, to get a commercial loan it has to be a sure thing. That is not how business works.

There is a certain amount of risk involved, and without taking risks, the reward is too small.

Small business is the engine that drives job creation, and I have to tell you, no small business person is going to expand with the reward shrinking in a sea of uncertainty about future obligations to employees and taxes.

I believe this was the agenda all along, to kill off small businesses and make people dependant on the all mighty government for their employment.

The recovery is stagnant because the government is biting the hand that feeds it.

The current problem will grow beyond fixing if the government does not step aside and let free market principles prevail.

 

[Reverend Rick]

Is that something you just made up? I think that as a rule it has a flaw. That flaw is that jobs have been created on borrowed funds.

Correction, government has created unsustainable jobs which are little more than putting a band aid on a severed artery. :sorry1:

 

[Sunstone]

But free market principles largely contributed to getting us into this mess in the first place.

 

[Sunstone]

Correction, government has created unsustainable jobs which are little more than putting a band aid on a severed artery. :sorry1:

The jobs don't need to be sustainable beyond when private demand rises again.

 

[Reverend Rick]

But free market principles largely contributed to getting us into this mess in the first place.

Yes they did, but lets not choke off businesses who have not defaulted on THEIR LOANS.

 

[Reverend Rick]

The jobs don't need to be sustainable beyond when private demand rises again.

Private demand cannot occur until loans are given to qualified customers again. That is the hold up in a nut shell.

If you borrowed money for endeavors before and always made good on your loans, why stop lending money to these folks?

They are the people who would love to create jobs but have their hands tied right now.

 

[Sunstone]

Private demand cannot occur until loans are given to qualified customers again. That is the hold up in a nut shell.

If you borrowed money for endeavors before and always made good on your loans, why stop lending money to these folks?

They are the people who would love to create jobs but have their hands tied right now.

You are perhaps right that the banks have been poorly regulated and that this has choked off credit for small businesses. If so, that needs to be corrected and ASAP.

 

[Reverend Rick]

I'm telling you Phil, there is a private demand right now getting the run around from the banks.

This is not a kick the bank in the goonies thing, the bank people want to lend money but are afraid to do anything because of lack of understanding of the new regulations.

On the other hand, they are not denying loans, (they would have to give a reason) they are just sitting on the loan applications stalling. I have three different contracts sitting on the sidelines awaiting financing by people who are only doing what they have always done before and have never defaulted.

 

[Mercy Not Sacrifice]

I know this may be unpopular, but sometimes you just have to let things crash to let the healing begin.

I have no confidence that the government can fix anything no matter how much money they spend.

The government gave the banks money and turned around and crippled them with new requirements that makes it almost impossible to give commercial loans to QUALIFIED CUSTOMERS!

Right now, to get a commercial loan it has to be a sure thing. That is not how business works.

There is a certain amount of risk involved, and without taking risks, the reward is too small.

Small business is the engine that drives job creation, and I have to tell you, no small business person is going to expand with the reward shrinking in a sea of uncertainty about future obligations to employees and taxes.

I believe this was the agenda all along, to kill off small businesses and make people dependant on the all mighty government for their employment.

The recovery is stagnant because the government is biting the hand that feeds it.

The current problem will grow beyond fixing if the government does not step aside and let free market principles prevail.

That is exactly what President Hoover believed.