Just thinking about a way out of the current financial situation. They've thrown a small ton of money at the banks to try and prop them up. This seems to have only prevented more runs on banks. We've seen investors move a lot of money from stocks to bonds and cds. If you didn't do that last year or at least this past spring then you missed the boat it's too late now. They still aren't even beginning to undue the mortgage mess. I'm only now seeing banks start to offer refinancing but from what I hear people with good credit are being turned down. And of course we now have the late night get rich quick in real estate gurus crawling out from every rock. Then there's the "we can get your debt erased" scams out there.
Okay I did a little research. On refinancing go to your bank and see if they will make you a deal. If they can't help try a credit union. If the credit union can't help you're probably out of luck. If you're facing bankruptcy go find a lawyer who deals with that. It will save you many headaches in the long run. I was also looking at the prices of foreclosures. The prices aren't pennies on the dollar like some would have you believe. The cheapest one I could find was listed to go for a minimum bid of $65K and you'd only need to put a couple of hundred thousand to get it up to livable.
It's interesting to note that back in the eighties a two bedroom apartment in downtown Tokyo went for $2 million. After their bubble burst it took about ten years to get back to realistic prices. As I see it we have a very small window to really change things before other factors start to kick in that will make the present situation look like a party. That would be the Ponzi scheme called Social Security for one and Medicare.
So what to do? A New New Deal to start rebuilding the infrastructure, fix healthcare, retirement and changes in education. A large push for renewable energy would do wonders for the bottom line and the pay off would be fairly short. I realize this will cost in the tens of trillions of dollars but consider the alternative. And for those who say this is socialist and all that, I say who cares? The results would be the same no matter what name you put on it and it would benefit everybody. Remember when we had one phone company and it actually worked quite well and it was cheap too?