Don't listen to the financial news right after quiting your job. Am I the only one who thinks that the collapse of the commercial credit markets is actually a good thing for business?
3 comments:
Anonymous
said...
I agree with you. I don't think any business would agree that it is good for them, but as I understand it, the main effect is that nobody can get credit. Holy shit! We're going to have to live within our means?! How unspeakably offensive!! *yawn*
I'm no big economics guy (it happened to be one of my classes during my third semester of college when I stopped showing up halfway through)... but this whole bailout thing stinks to high heaven.
I almost wish the bill had passed... maybe it would have caused an outrage the likes of which should have exploded when they passed the patriot act.
The funny thing is that there are still lots of people with money to lend. Nobody wants to stick it under their mattress and lose it to inflation. The investors are simply waking up to the notion that loans ought to have some real collateral backing them. How's that for a novel concept?
3 comments:
I agree with you. I don't think any business would agree that it is good for them, but as I understand it, the main effect is that nobody can get credit. Holy shit! We're going to have to live within our means?! How unspeakably offensive!! *yawn*
I'm no big economics guy (it happened to be one of my classes during my third semester of college when I stopped showing up halfway through)... but this whole bailout thing stinks to high heaven.
I almost wish the bill had passed... maybe it would have caused an outrage the likes of which should have exploded when they passed the patriot act.
Key words being "should have".
The funny thing is that there are still lots of people with money to lend. Nobody wants to stick it under their mattress and lose it to inflation. The investors are simply waking up to the notion that loans ought to have some real collateral backing them. How's that for a novel concept?
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