These days the public consensus predicts an imminent collapse of our financial system.
There are two preventive remedies available.
The first one:
Establish an entity along the lines of the Red Cross and the UN, but instead a “for profit” corporation equipped with the latest in weaponry offering immidiate defensive protection to any nation being attacked and having first purchased a policy.
Since this one arsenal of deadly weapons won’t have to be duplicated by each insured nation, each country’s defense budget can be eliminated except for the minimal cost of the insurance premium.
With the defense budget thus deemed obsolete and since it now represents a large if not the largest item of each country’s present deficit budget suddenly a recession would be judged irrational.
By the way this international defense concept can best be described as a universal mutual insurance company having a fire departmen standing ready to douze any fire among its members.
To eliminate tribal suspicion and distrust among the members of our dynamic world and to guarantee universal acceptance and a non-lobbyist influenced performance, the Swedish Academy would be asked to appoint the officers and the board from its rooster of Nobel Laurates already culled from our culture’s intelligenzia.
Incidentally, the initial cost to arm this mutual insurance company would be remarkably minimal since the participating policy holding countries would simply be delighted to sell their weapons at bargain prices since they would no longer be of any use whatsover.
Of interest, the profit would prove substantial to the initial purchasers of the IPO derived from a modest but fair percentage of the world’s present astronomical defense budgets.
There is some humour in the fact that this solution to our budget problem is so simple, forthright and based on common sense that sooner or later it is bound to be universally adopted.
The only question would be, is our present generation sufficient smart to figure that out?
The second budget cut proposal is simpler, so doable and possibly even more fun to contemplate.
But before I present this aditional one, I am curious to hear what Yahoo’s always well informed, brilliant, and truely genius endowed members care to comment.