Archive for the ‘Economics’ Category

4 Rent on iRent2u

When people hear that we are the rental site that facilitates people to lend and rent anything to and from anyone, and that they can make or save money respectively, they sometimes ask us: “How is that possible? What could I lend or rent? I would not lend my toothbrush, and I would not get much for it anyways, nor would I rent one.” Of course some items in private possession are only for private use, or have sentimental value, and these items might be less suitable for lending. But people have in fact alot of other items, which they seldom use, and which are suitable for lending. And more and more people are actually joining the rental trend, realizing that they can make some decent money from lending, or saving some money through renting, especially in times of crisis.

On iRent2u, you can find more than 200,000 items of all sorts to rent. Hot rental items are items that cost a lot and are seldom used such as RVs and caravans, video equipment & beamers, garden equipment like leaf blowers & lawn mowers, tools and all sorts of special equipment, house appliances & vacuum cleaners. Books are excellent rental items, because after people have read them they are stored in shelves and only collect dust without serving anyone. Especially textbooks for education are very expensive to buy and only serve for one school year. Cars & trucks are already well established as rental items. Luxury items such as luxury cars, limousines, jewelry, and designer handbags, can be rented for special occasions. iRent2u offers vacation homes all over the globe. Everything around party rentals such as catering equipment, tents & canopies, jumpers, costumes & tuxedos work very well. Anything for leisure like golf clubs, bikes, surfboards, snowboards, etc. are these kinds of items that spend most of the time in attics or garages and are perfect for rental. Wireless connections, parking spaces, or swimming pools can be shared. And also big-ticket items such as motorboats, sailboats, yachts, business jets & helicopters can be rented on iRent2u.

So join the rental trend, start lending and renting.

Popularity: 14% [?]

Economic Crisis II
One of the many aspects of the current economic crisis that worries us at iRent2u is illustrated in the graphic provided by the Washington Post displayed below. It clearly shows the U.S. government shifting from budget surpluses in 2000 and 2001 to deficits beginning in 2002 and projected to continue at least for the next decade.

For many Americans, the out of control spending by the Republican controlled congress and President from 2000-2006 were strong indications of their greed and incompetence. By looking at the projections from the (nonpartisan) Congressional Budget Office (CBO), it is clear that we are planning to double down on the worst aspects of George W’s domestic policy. A situation so bad, even USA Today has noticed.

The supporters of the current policy defend the expenditures by reminding us that, in general, it is acceptable to run large deficits under two conditions, (1) in an economic downturn or (2) during a war. As we are in the largest economic down turn in at least the last 25 years, and maybe the last 75 years, the huge increase in government spending is therefore justified.

But haven’t we heard this before. Remember in 2000 the .com bubble was bursting all around, high tech and IT companies were imploding, unemployment was sky rocketing and then the 9/11 tragedy dealt a huge blow to the airlines, financial services and hospitality industries. Subsequently, we embarked on wars in Afghanistan and Iraq.

Thus all conditions were met for running huge deficits, which President Bush and Congress proceeded to do. At the same time, Alan Greenspan was doing his part to boost economic activity by drastically cutting the Fed Funds rate to below 2% and holding it there for nearly 5 ½ years. Which looks to be what Ben Bernanke is doing right now.

So if George W’s out of control spending and low interest rates did not lead to economic prosperity, but rather Economic Catastrophe, how will the current administration’s policy, let’s call it “George W^2”, lead to anything other than Economic Catastrophe^2…?

Popularity: 14% [?]