I see a recurring theme that everyone is living beyond their means. People are over-extended on their credit cards and mortgages. The government runs in deficit and the national debt is huge. The U.S. auto manufacturers has too much overhead and is losing money like crazy. The investment banks have over leveraged their investments in bad mortgages. And mortgage lenders were giving loans with insufficient collateral and security for the credit.
And now we have no credit flow. Is that the symptom or the antibody?
Just askin'.
NO one ever talks about the millions of people who have been renting who have been waiting to buy houses---o
But I'm quite curious to see how long the masses go without buying their luxury "necessiti
I'm afraid to say it, but I do believe we have to let things shake out in a more organic fashion. We don't know if our bailout efforts thus far have even helped, and there is no end in sight to those who "need" more funding. I see a lot of greed and arrogance from aid seekers, and not much admission of culpabilit