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3 Bumps

Where does the money go?

They say we're in a recession. Every time I turn on the telly I hear bankruptcy here and bankruptcy there. Seems the whole world has run out of money. It must have went SOME where. Where is it?

Answer Question
 
Pucki

Asked by Pucki at 3:19 PM on Jun. 11, 2012 in Politics & Current Events

Level 21 (10,510 Credits)
Answers (11)
  • Politicians, Professional athletes, Government spending -  Not necessarily in that order.

    meooma

    Answer by meooma at 4:14 PM on Jun. 11, 2012

  • I forgot
    actors, hollywood, singers,
    meooma

    Answer by meooma at 4:15 PM on Jun. 11, 2012

  • It never existed to begin with, that's the whole problem. Money amounts on paper is where it was, it never really existed. I think my son refers to this as the Expansion Money Multiplier, and it failed this go round.
    jewjewbee

    Answer by jewjewbee at 4:22 PM on Jun. 11, 2012

  • I can tell you where it's NOT- It's NOT in my bank acct! Darn it all! :p
    Can you imagine how long it would take to audit our own Govt.? It should be done tho- imagine what we'd find!
    mrsmom110

    Answer by mrsmom110 at 5:11 PM on Jun. 11, 2012

  • Ahhhhh, the money that was never there to begin with. They make it worse every time they fire up the printing press.
    yourspecialkid

    Answer by yourspecialkid at 5:16 PM on Jun. 11, 2012

  • 3libras

    Answer by 3libras at 6:15 PM on Jun. 11, 2012

  • The money is still there .
    However through borrowing money the money they have has been sent many times over.

    So let us say you borrow $100. You agree to pay $20. each month to pay it off plus interest (but we aren't going to go there)
    You only make $100. a month You have to have a place to sleep and food and a way to get to work. You have exactly $20. to pay the loan off. But you want to give Suzie a big present for her birthday. You spend $50 on the present and you don't payyour rent.
    Now you are behind in you rent and your loan. You say that is ok I will get another loan and while I am at it I will get a bit extra so this doesn't happen again. So you ask to refinance the hundred dollars and add another $200. to it at the same rate of payment and interest. Nope you will have higher interest. You have to have it and you say OK. So you pay youdelinquent bills as well as your current expense and you have
    Dardenella

    Answer by Dardenella at 7:30 PM on Jun. 11, 2012

  • $160. left. for the next 2 months y do very well and at the end of these months you have $160. Your transportation to work is in jeopardy and Suzie has a class trip. The trip is $ 40.00 and the transportaion problem is $100. You pay it and know you only have $20. in reserve but you decide that you have been scrimping long enough and you are going to have a steak BBQ with all the fixings. That is $25. But you figure you will just scrimp the next month. As we all know it just goes down hill. You have to take out another loan that you can not pay back and another. You are bankrupt. The same money is there (if you haven't lost your job) but you have spent it many times over.
    Dardenella

    Answer by Dardenella at 7:37 PM on Jun. 11, 2012

  • Well, the IRS took $40,500 of my husband's severance he got when he was laid off. This equals my entire year's salary, so I worked the 2011-2012 school year for free because the gov't doesn't understand that a 1 year's severance is not wind-fall-profit. It is to help you live until another job is secured. Plus, do you think that money was redistributed to the 'less fortunate of our society'? Can I get a big HELL NO!
    jesse123456

    Answer by jesse123456 at 8:37 AM on Jun. 12, 2012

  • Well who the hell knows? Not I.
    booklover545

    Answer by booklover545 at 9:45 PM on Jun. 12, 2012

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