KSJ08 wrote:
Non sense?!?!?!?!?
Have you Not been watching,listening to the news??
That's part of the problem. They've been shouting fire in a crowded theatre for years now, all in the quest for ratings. TV news is utter crap and does not even come close to fully present the facts... of nearly anything, let alone the economy.
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Like it or not the economy IS BAD!! I think it sucks to because I too could be laid off in ??? What I don't understand then is that they keep saying "The banks need to loosen up credit" OK? 1st too much credit is why we're in this predicament i.e. buying houses they can't afford, 2nd you can GIVE all the credit you want, BUT when there are NO jobs for the people to work in to PAY BACK the credit what good does it do to Give the credit??? Every day there's 1200, 3500, 950, layoffs for the past 1 1/2 yr. People can't buy when they have NO means of support.
There's a BIG difference between personal and business credit. Personal credit, the mortgages and credit cards, has been troubled for a while now. But business credit is an entirely different thing. Lots of companies have seasonal fluctuations in their cash flow. During the off season it's not uncommon for those companies to borrow money to make payroll. Same deal with borrowing for large outlays of cash for expenditures like new offices (building, furniture, moving costs, etc). It's THAT sort of credit being jammed up that's causing a lot of problems. If the companies can't borrow then that's when personnel start getting laid off. But it's a vicious cycle, the more people you lay off the harder it is to maintain the business, which would make it hard to pay back loans. So the longer banks hold up the money supply the worse things can become.
THAT'S what they mean by credit crisis, not overextended idiots getting the McMansion foreclosed. Those people deserve their fate.
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AGAIN WE get To BAIL OUT the RICH as well as the POOR!!!!!!!!!!!!!! 
