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Unfortunately that is a possibility. I think the way out will be overwhelming government financial support of of businesses and people out of work.

If we think about about it the billions of dollars currently sitting as bank deposits represents accumulated assets. Its great to have them but really not strictly necessary for day to day living. It could be useful for governments to decree that banks don't give out more than a certain percentage of deposits to ensure the viability of the system. Meanwhile they continue to guarantee the deposits up to the current level ($250k) to give long term security to depositers

What people and businesses need on a day to day basis is sufficient funds to pay their bills, rent and food. The decision to effectively double the New start allowance goes a good way to that point. One important factor will be the situation of two income families which is now most people. I hope both partners are covered with this decision.

<blockquote data-quote="basilio" data-source="post: 1063248" data-attributes="member: 18692">Unfortunately that is a possibility. I think the way out will be overwhelming government financial support of&nbsp; of businesses and people out of work.If we think about about it the billions of dollars currently sitting as bank deposits represents accumulated assets. Its great to have them but really not strictly necessary for day to day living.&nbsp; It could be useful for governments to decree that banks don&#039;t give out more than a certain&nbsp; percentage of deposits&nbsp; to ensure the viability of the system. Meanwhile they continue to guarantee the deposits up to the current&nbsp; level&nbsp; ($250k) to give long term security to depositersWhat people and businesses need on a day to day basis is sufficient funds to pay their bills, rent and food. The decision to effectively double the&nbsp; New start allowance goes a good way to that point. One important factor will be the situation of two income families which is now most people. I hope both partners are covered with this decision.</blockquote>

[QUOTE="basilio, post: 1063248, member: 18692"] Unfortunately that is a possibility. I think the way out will be overwhelming government financial support of of businesses and people out of work. If we think about about it the billions of dollars currently sitting as bank deposits represents accumulated assets. Its great to have them but really not strictly necessary for day to day living. It could be useful for governments to decree that banks don't give out more than a certain percentage of deposits to ensure the viability of the system. Meanwhile they continue to guarantee the deposits up to the current level ($250k) to give long term security to depositers What people and businesses need on a day to day basis is sufficient funds to pay their bills, rent and food. The decision to effectively double the New start allowance goes a good way to that point. One important factor will be the situation of two income families which is now most people. I hope both partners are covered with this decision. [/QUOTE]

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