Quote:
Originally Posted by teomaxxx
the real question is how much CREDIT was in the system and how much CREDIT and LEVERAGE in the system is now. Look on it. Current markets cant work without CREDIT. Thats why you have FED doing Comercial paper lending now as they realized that without CP rollovers, many companies would go bust.
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Today, tons of credit, tons of leverage, tons of everything.. And it should go bust. We live in a fake market, with tons of crap we don't need, imported on trade credit, rather than just trade.
If you have to run your business on credit, you should be out of business, downsize, sell your company, whatever it is - but it shouldn't ever be ran on credit.
Does this mean we will have less stuff, damn straight. Instead of 80 different kinds of cereal, you will prob only have 20. Does this mean we prob won't have another fast food shit hole around the corner or a wallgreens, or starbucks down the road? Prob so and thank god.
We are an eco that has blown way up above the standard 'because of credit'... It created a fake life style. For Companies, the people and the Gov. It needs to stop.
Poorer or poor, working class, broke, 2 new cars people should never be able to buy a house, they shouldn't be able to own 2 new cars. For sure at todays standard, the credit they have is far to much.
New Company owners should have to wait 5-10 years (or prove business) before they get loans. This is how it used to be, and really over the last 20ish years has slowly stopped.
Let all the markets die, all at once.. then what? We are still going to over charge by 1000000% for everything? No... the market will balance out, which is needed.