A Lesson in good and bad theology OR proving all things.
The following is an e-mail that is going around that purports to have a fix for
the problems in the economy. It sounds great …but is it? Let us see.
Subject: How to fix the economy.
BEST THING I HAVE HEARD YET......From a senior citizen around 80 yrs. of age. We aren't useless yet.
The Fix
There recently was an article in the St. Petersburg , Fl. Times. The Business Section asked readers for ideas on: "How Would You Fix the Economy?" I think this guy nailed it!
Dear Mr. President,
Please find below my suggestion for fixing America 's economy. Instead of giving billions of dollars to companies that will squander the money on lavish parties and unearned bonuses, use the following plan.
You can call it the "Patriotic Retirement Plan":
There are about 40 million people over 50 in the work force. Pay them $1 million apiece severance for early retirement with the following stipulations:
1) They MUST retire. Forty million job openings - Unemployment fixed.
2) They MUST buy a new AMERICAN Car. Forty million cars ordered - Auto Industry fixed.
3) They MUST either buy a house or pay off their mortgage - Housing Crisis fixed.
It can't get any easier than that!!
P.S. If more money is needed, have all members in Congress pay their taxes..
Mr. President, while you're at it, make Congress retire on Social Security and Medicare. I'll bet both programs would be fixed pronto!
If you think this would work, please forward to everyone you know.
If not, please disregard.
Dear Sir
All the money in the world amounts to 80 quadrillion dollars. Most of that money is tied up in corporations and financial instruments/institutions as opposed to money in banks and wallets and under mattresses.
The figure you are asking for just 40 million people is half of all the money in the world or 40 quadrillion dollars.
Money in the US is divided into three areas called M1, M2 and M3.
M1 is liquid money on the streets and money in banks for which we write checks.
M2 is a total of M1 money plus all money in deposits under $100,000 in retail money market mutual funds.
M3 is a total of M2 [which you see includes M1] plus large-denomination of $100,000 or more in time deposits, balances in institutional money funds and repurchase liabilities issued by depository institutions.
The MI is currently just over 1.2 trillion. That is only about $4,000 per man, woman and child in the US. That’s $5,750 for everyone over 19 years of age
The M2 figure [which, again includes M1] is 5.4 trillion.
The M3 figure is 7.8 trillion which makes for $26,804 for every man, woman and child or $37,321 for everyone over 19 years old.
And the fix you quoted wants 40 quadrillion for just 40 million people. We have over 300 million in the US.
The financial experts say the USA is over with just something under 20 trillion in debt. Even the Federal government could not print up 40 quadrillion to give away. Financially the entire world would explode into so much powder and dust.
Notice that our National debt is higher than all the money currently in the US---the M3 figure.
Conclusion: This fix is impossible and would end the world forever.