If the S&P thinks things are bad now just wait until 2020 to 2030 when the world's supply of oil reserves begins to run out.

To avoid a complete collapse in the world's economies there needs to be an immediate implementation of "Work Credit" based financial system.

Today a new documentary video was released by the BBC called "The Party's Over: How the West Went Bust".

http://topdocumentaryfilms.com/party-over-how-west-went-bust/

It is two hours long and explains how the Western economies became so indebted due to consumerism while China became prosperous and rich on hard work and innovation.

This documentary is great at explaining how everything went wrong, but cannot make the important recommendations on what needs to be done to right them. This gets too political for the BBC.

This documentary also fails to address a major crisis that is developing with regards to the energy supplies of oil and natural gas that will be running out between 2020 and 2030.

Fixing the western economies is not hard at all, but there needs to be a complete change in how people are valued by their countries and this requires major economic reform.

The financial concept of "Work Credits" allows a country to revalue its money supply based on its most valuable natural resource, "Its People".

People are assigned a life time value to do work for their community, city, state and country. This value is added to the state / country's money supply.

People are then paid back their value during the year for doing work that benefits their society.

It is really a very simple financial concept to eliminate unemployment, poverty and homelessness in the United States.

People can work for the government, military, a company, be self employed, be a stay at home parent, be paid to go to school K to 12, college and university. Their base salary for example would be $50,000 a year.

For example citizens would be valued at $50,000 a year. (To do work that benefits their society.)

Person's value = (100 years - person's age) x $50,000

Country money supply = (100 years - median population age) x country population x $50,000

Country working capital = Country money supply x 7%

In a "Work Credit" based society unemployment, poverty and homelessness are eliminated. This is because each person is now valued at $50,000 a year to do work for their society, what ever it is and what is legal.

“Work Credits” is NOT about equality, simply that the first $50,000 of a person's yearly salary is covered by their own economic value.

Government salary expenses drop 80%, military salary expenses drop 80%, public and private company salary expenses drop 80%, groups of people can now create their own companies knowing they will be paid to do so. One parent can remain at home to care and raise the children. A Stay-At-Home-Parent is now a recognized job and paid for. Children are now paid to go to school. Society now recognizes that the MOST important job a child can do is to go to school and learn. Older students are paid to go to college and university. Likewise this is their job and they are paid to do it.

It is a fundamental shift in human civilization to place a monetary value on a person and their ability to do work in their society that will benefit that society.

The financial concept of “Work Credits” does not cost society anything, rather for the first time it recognizes its people as the country's MOST valuable natural resource.

In a "Work Credit" based society it is impossible to be unemployed, in poverty, and homeless.

"Work Credits" are independent of a nation's energy reserves. When oil supplies run out for countries around the world their economies can still keep running smoothly with 100% of the country's population employed.

The financial concept of "Work Credits" is the modern financial solution for the world's economy. The solution is easy. The technology exists to do it.

Simply value people as the country's most valuable natural resource and assign them a monetary value to do work in their society.

Arnold Vinette
Ottawa, Canada

Work Credits

Values Canadian Citizens as the country's most valuable natural economic resource.

Proposed Value for a Canadian citizen is $50,000 a year to do work that benefits their society.

Canadian Citizen's Value = (100 years - person's age) x $50,000

Canada's Money Supply = (100 years - median population age) x country population x $50,000

Canada's Working Capital = Country money supply x 7%

Based on median age of population 39.5 years in 2011.

Canadian population in 2011 is 34,711,000.

Canadian Citizen's Value = (100 years – 39.5 years) x $50,000

Canadian Citizen's Value = $3,025,000

Canada's Money Supply = (100 years – 39.5 years) x 34,711,000 x $50,000

Canada's Money Supply = $105,000,775,000,000 = $105 trillion dollars

Canada's Working Capital = $105,000,775,000,000 x 7%

Canada's Working Capital = $7,350,054,250,000 = $7.35 trillion dollars a year

Canada's Working Capital pays for medicare, military, government and infrastructure projects.

Work Credits eliminate unemployment, poverty and homelessness in Canada.