I don’t often forward on emails however much of the following message I received makes common sense so I’m going to do my bit. If you agree please do your bit as well and forward it to everyone you know here and abroad so we can all get past these troubled times!
The simple solution to the world’s economic woes is restoring consumer spending levels which will restore confidence, trust and peace of mind. If each and every man woman and child in the US, UK, Europe, Japan and the Australasia, with a combined population of close to 950 Million people, each spent just US$1.00 per day more than usual “on themselves” until the end of the year consumer spending would be well on the way to recovering. That’s an extra US$950,000, 000 consumer spending per day… so what does that equate to in terms of jobs and all of our futures. Whether you spend it daily or weekly or once in the next month just do it and we will all benefit!
However, if we don’t get our economies back on track through restoring consumer spending and confidence, unemployment will continue to increase as will government debt paying benefits to the unemployed. As consumer spending slows demand will fall, because people are not spending, and life will becoming increasingly tough for each and every one of us. The more we stop spending the worse this is going to get… so go and spend something “extra” today!
The fact is Governments could radically drop taxes and, for those with consumption taxes, do better as a result. Reducing these taxes, even as an interim measure, could stimulate consumer spending that would result in a far greater tax take than would be achieved from higher rates of taxation with people spending the bare minimum on essentials…
I agree that the world is full of excesses but that is also what drives progress. The desire to have bigger and better is why we aren’t still living in caves satisfied with our lot in life. We need to appreciate what we have and all work towards restoring the balance that is necessary for the continuity of life as we have come to know it, unless of course you would prefer to go back to living off the land or would be happy taking your place in the dole queue.
The current global economic crisis has also been driven (sensationalized) by the media. It has added to the lack of confidence and trust in almost anyone and any financial institution in particular. This is a fact of life these days and something we need to accept and look past. However, one final thought is about what really started this crisis…
Maybe this is the “ultimate terrorist attack”. Imagine if this was all the result of Al Qaeda (or some equally driven organization) manipulating oil prices up which put pressure on the living costs and livelihoods of all of us. Higher fuel costs increase vehicle running costs which flow through to higher living costs and all commodities increase in price rapidly… as they did. Financial defaults jump and the numerous financial institutions around the world go under as a result. People lose their life savings, are losing their jobs and consumer spending slows to unprecedented levels. Nobody trusts anyone to lend money and nobody with money trusts anyone to keep their money safe. There is no trust, no confidence and a dramatic slowdown that has resulted in a crisis that is bringing down our global economies.
Just maybe this is the ultimate terrorism. Aren’t you terrified about your future and financial well being? Maybe, maybe not, but the devastation of our economies is currently terrorizing all of us. It is possible this is all part of some larger plan… just look at oil prices today. The job is done, the dominoes have fallen, the weakness exploited to perfection, and oil prices are back where they were two years ago.
I don’t have answers to many of the questions that exist today but one thing is for sure… if you and everyone you know spends an extra US$1.00 per day until the end of the year next year has a lot more chance of being a much better year than this one!
… and go treat yourself and all of us by spending that extra $1.00
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