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How to salvage the middle class
|Doom Meister |
User ID: 1557294
09/24/2011 03:52 PM
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The Emergency Essential Services Act
For each member country of the IMF, their central bank which creates money in each country, will create an amount of money approximately equal to 10 percent of GDP, and pay 10 percent of the population who are currently employed in essential services (nurses, police, firemen, government employees etc) the average income per person in that country.
10% of GDP = 1.45 trillion divided by $46,860 average income = 30,943,235 employees that will qualify for printed money payroll. Paid direct to the employee through a banking institution set up specifically to distribute money through prepaid credit cards. (electronic funds not actual paper money)
Every year you have a shortfall of 1.3 trillion dollars so this will save the country from bankruptcy.
All the numbers regarding population and GDP and per person income for each country can be found on the right side of the page in Wikipedia.
[link to en.wikipedia.org]
10 percent of GDP $31,808,200,000
Average yearly per person income = $28,434
1,118,667 people who qualify.
Total population 11,305,118
10 percent of population.
At present Greece has approx 705,645 public service employees.
Many of those would qualify as being within an acceptable range of the average income, the rest of the numbers would be made up from the workforce as nurses, firemen, police etc.
So you see this works for Greece to prevent default.
And it works for all the other countries as well, even those who are not close to default, like Canada and Germany.
Since every country can do the same thing, it will not affect currency levels.
Those employees who qualify for the program get a bit more job security, and they can have more training.
They get their pay in the form of prepaid credit cards and there may be coupons attached to those cards to stimulate growth in the economy in certain sectors as consumers.
What do you think?
It's that or certain doom.
3.4 trillion wiped out of the markets day before yesterday.
"U.S., China pressure Europe, warn of cascading default"
The future is uncertain and the end is always near.