what action would you take if there were to be anouther financial crisis

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If there were to be anouther crisis would you

1 not realise and get fooled by it

2 or know its happening and tell someone

now all the children on this websiste are luck because we have burnet news club but most adults and some children would never have this oppontunity so they would probley be fooled.Because we are going to have around 6 week to realy get in depth with this subject so by the end i would be sure

So if there were to be anouther financial crisis in this county or maby in anouther countery.I would defenatly have a diffrent reaction to what people had 10 years ago. To make sure no one i know would fall for it i would make sure i told everyone i now ( my teachers,friends,parents,and anyone i know).So they could be aware.

I doubt there will be anouher crisis because banks have grown bigger and stonger but people in the world have become more gullable

WHAT WOULD YOU DO?

Comments (16)

  • Olivia-Avatar.jpg Olivia @ the BNC
    19 Nov 2018

    This is a good post about a new topic and shows your curiosity. Well done! I am keen to hear what other BNC members think. Please comment below!

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  • Graveney-logo-250x250.jpg beloved_chocolate | Graveney School
    20 Nov 2018

    This question is very puzzling, and it has made me think a lot. If another financial crisis takes place, there is a number of things I think I would do.

    I would, like you, warn my friends and family, and just anybody I know of what is going on as I would hopefully know what is happening. If the same sort of crisis as the 2008 one took place, I would tell them to make sure that their money was in a safe and secure bank which is not liable to shut down, meaning that they lose all their money. If this is not possible, I would tell them to take their money out of their bank account in case it shuts down. However, this is what contributed to the 2008 crisis, as then the banks did not have any money and had to shut down. This is like a paradox because, if you take your money out of the bank, it could collapse, meaning that the government, like it did in 2008, would have to retrieve it by raising taxes and therefore making you pay more money. Or, you could keep your money in the bank, but then you would be at risk of losing the if the bank collapsed, which is quite probable. This is a very hard decision and I would not know what to do, however, if I was forced to make the decision, I would probably choose to take my money out as I would rather lose a fraction of my money as taxes are raised than lose all of it if my bank collapses. Another solution could be to spread all my money over lots of different banks, not put it in just one, so that if one collapses then I would still have the majority of my money.

    If I had any control over the government, I would pressure them not to try to retrieve the banks from their state of disrepair, but instead try to help those who have been left vulnerable and poor by their colapse. This would mean that instead of spending lots of money on helping the banks, which helps the people, they could help the people directly and there would only be less banks in England, but taxes would not have to be raised so much and they would pay less if they just helped those in need.

    If I knew that a financial crisis was imminent, and I had any power in politics, I would encourage the government to step in and try to stop the banks lending money which couldn't be repaid, so that they do not lose it all, which is what kicked off the financial crisis.

    However, if I was just a civilian, there would not be much I could do because I would have little influence as one of millions, so most of my attempts would be self-preservative, as there would not be much I could do to benefit the general community, except to inform they of what is happening and advise them on what to do.

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    1. Olivia-Avatar.jpg Olivia @ the BNC
      beloved_chocolate's comment 21 Nov 2018

      Excellent reasoning shown, well done! Which of the options you propose do you think is most realistic?

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  • The-Ruth-Gorse-logo-250x250.jpg balanced_singer | The Ruth Gorse Academy
    21 Nov 2018

    Make a budget
    First of all I would make a budget so that we would have more money for the more important things. Making a budget also allows us to make sure we have enough money to pay the bills, and then we wouldn't lose our houses. This is also the case with business owners. They should make a budget so that they don't lose their business. That business might be their only job!
    Find extra ways to make money
    We could start to make extra money like doing jobs for people. Some jobs include: mowing your neighbor's lawn, dog walking and babysitting. So real jobs aren't the only way to make money.
    Tell others
    Like beloved_chocolate said we should tell our family. But we shouldn't stop there. We should tell our friends, our teachers and our neighbors.

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  • Elaine-logo-250x250.jpg victorious_snow | Elaine Primary School
    21 Nov 2018

    Personally I think there is so many ways to bring this news to public if another financial crisis happens, however it won't be as easy as we would think.

    First as you all said, we need to warn everyone we know so they are alerted and they might also be able to help spread the news.
    Ways of spreding the news:
    .The main thing that needs to happen is that this should be a signifant news
    .Every where you see, this news should flash into your eyes and should be the gratest issue which everyone will worry alot about.
    .It could be in TV newses
    .The main page of the newspapers shouls contain this news in complete bold writing.
    .BBC news should surely have this as there is a chance for parents who watch these things with their child to watch as well and if schools watches teachers will also be informed.
    .As it's obviouse,some modern people are disinterested in watching news,so this news could appear in ads. which will play just before the videos play, chose by the user
    .But most importantly this news can appear strongly in social medias with huge headings.

    These are the most we can do as a normal person however if I was in a higher position,then things would have been much easier and as respecting my job and the citizens, I deffinitaley would change things easily and handle it in a safer way. A way that no one will be harmed or effected by this and a way that everyone will appreciate.

    Say if I was the Prime Minister or even a governer, my job should mostley be about controlling the place in success and to do this I will go to any superior level.Clearing the bank and bringing the money to its owner would be the hard job but I am sure a solution will be found whilst discussing with either the members of Parliament or other major people.
    If a financial crisis actually happened,after ten years, citizens are expecting a lot to be done and many people were already been effected by crisis so they really don't want any more of this to take place after sellecting me to come to this position.Before the bank shuts down,an action should deffinately be taken.

    As a normal indiviual, not many action would be taken by me but I will surely do my best to inform the news to many others who I know will then carry the news further to public.

    Reply to this comment
    1. Olivia-Avatar.jpg Olivia @ the BNC
      victorious_snow's comment 22 Nov 2018

      Well done for thinking about some suggestions here. What do you think might be the risks with this kind of media portrayal of the crisis? Can you be sceptical of your own suggestion and think about the problems this might cause?

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      1. Elaine-logo-250x250.jpg victorious_snow | Elaine Primary School
        Olivia @ the BNC's comment 22 Nov 2018

        I think the impacts of this would be that these actions, like spreading this news everywhere in a shocking way, may cause more panics and stress to the country. Also the country may be in full depression caused by the situation so their thoughts will approach to the money and how they should be returned to the owner.If the country together makes a strange and an incorrect decision, like attacking or going in a voilent way to recieve their money ,then it would be even hard to find a solution.So, as being an indiviual, that will be the case and would be the problem.

        If you are a Prime Minister or a governor, then the problems would result slightly different. If the country goes in the wrong way, then pressure would add on but if the country stays calm with expects, then there is a chance of quicker solution. But still we would have to face at least few consequences like when the country highly expects something from the Prime Minister then I would deffinately have to do something other wise my reputation amongst the whole country and outside will go down and people's hope towards me will be demolished.If all the others like members of parliament handle this situation, everyone will be under pure presure:
        .The members of the parliament
        .The Prime Minister
        .Other indiviuals
        .The bankers themselves
        This basically means the whole country would have face and deal with such consequence of panic.


        Mybe what a good idea would be is, working in a united team with a group of normal citizens and the workers of higher state.Then discussing the plight sharing each others opinions and finally coming up with a successful result.This will surely be helpful because hearing other opnions and other ways of solution may give a huge answer this is also opportunity to understand each others view point to come up with that one finall result.This provides opportunity for both ,the higher state people to understand citizens thoughts, and for the people to understand the difficulty faced by either a Prime Minister, MP,governor.

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  • Ormiston-Bushfield-logo-250x250.jpg persuasive_moth | Ormiston Bushfield Academy
    22 Nov 2018

    This question was a real challenge to come up with an answer for but I have had a long think.

    If I was aware another financial crisis was happening I would like to think I would tell as many people I could. But I have realised that I probably wouldn't have been anything 10 years ago or now whether I was a child or an adult. You can't just stop paying back to the bank the money you own and if I took out all of my money where would you put it, it wouldn't be safe anymore. But taking my money out might mean I don't lose it when or if the bank did collapse.

    I would like to think that If I could help in any other way I would and hopefully it would get other people to start helping and working together. I think the Government and the banker bosses should have been a bit more careful in where the money was going for repairs some of it could have gone to the people now struggling because they made a mistake. It would have been avoided if the people in charge of the banks decided not to lend money to those who really couldn't pay it back and they could have done this by somehow checking the about of money people own inside their bank accounts.

    But I have zero influence on what could happen and I definitely wouldn't of been able to stop this from happening, after all I am just a civilian. That would be down to the Government or The Banker Bosses to realise what was happening and get it sorted. So really I am on both side. One I would like to think I would do but one which will probably end up happening.

    Reply to this comment
    1. Olivia-Avatar.jpg Olivia @ the BNC
      persuasive_moth's comment 22 Nov 2018

      Well done for using clear reasoning here. Do you think that citizens can make an impact and make a change when they act in a group? How might this be useful?

      Reply to this comment
      1. Ormiston-Bushfield-logo-250x250.jpg persuasive_moth | Ormiston Bushfield Academy
        Olivia @ the BNC's comment 22 Nov 2018

        That was something I forgot to bring up in my original comment.
        I do believe that people worked together within a group could have or could be done but to an extent that they don't cause trouble. So if they started to protest and it got to serious that people got hurt. It would be useful because the government would start to understand how people were feeling towards and started to do something which didn't end up effected people to badly.

        But I have come to realise that this isn't always the case. Anyone could turn it back round on those people and make the situation worse for them. So I think people didn't do this 10 years ago because they were scared of what could happen to them or even family members or people close to them. Even now it's hard to imagine what was going through people's head and why they didn't do this but now I think people would do what they could to make sure it doesn't happen again.

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  • Millbank-logo-250x250.jpg allowing_singer | Millbank Academy A
    22 Nov 2018

    I will stick to my family vote any crisis made must stop immediately. This is not for fun

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  • Foxfield-logo-250x250.jpg courageous_reindeer | Foxfield Primary School
    22 Nov 2018

    I agree with beloved_chocolate because that person has used the BNC skills and i have to think really hard to give an answer.
    First of all I will go to the local MP and ask him to debate it in the Houses of Parliament and then I would go to City Hall to discuss it with Sadiq Khan then I will go to the Bank of England to make more cash and send them to all citizens bank account.I would then go to a news reporter and ask their company to put my speech on it so everyone can be cautious about the crisis.

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  • Elaine-logo-250x250.jpg openminded_skill | Elaine Primary School
    23 Nov 2018

    In my opinion, I believe there are many ways in having news spread around to the public, yet it does take a lot of effort. As you've clearly stated, we will need to make sure everyone is aware, we could do this by:

    •Telling close friends,family e.t.c
    • Try and informing the government asap
    • Make sure newspapers (such as, The Sun, Daily Mail, The Mirror e.t.c) receive the information extremely quickly and have it at the front of the newspaper in bold.
    • Inform journalists & news reporters so that it can be spread across TV.

    However, I also thought to myself how that if this was reported and the vast majority of the country would start to panic & the streets of England would become chaotic & hectic extremely quickly. Consequently, the country would result in getting a lot worse as having a financial crisis in general is chaotic, yet also having residents of the UK also panic about adds to the stress.

    This is a very difficult discussion and it's interested me alot, I'm interested in finding some more information about this topic & would like to hear your opinions on this post.

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  • Notley-Green-logo-250x250.jpg noble_nectarine | Notley Green Primary School B
    28 Nov 2018

    I would definitely inform all of my friends because the situation could become severe again. I would search the current impact upon the country to see the damage it had created as the banks would run low on money.

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  • Notley-Green-logo-250x250.jpg inspirational_attitude | Notley Green Primary School B
    30 Nov 2018

    Good post, this got me thinking.

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  • Boston-Spa-logo-250x250.jpg sceptical_honeydew | Boston Spa Academy
    02 Dec 2018

    I think that i proberbly wouldnt even know because i dont watch the news that much

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