Quote:
Originally Posted by Villages Kahuna
There are certainly opinions and theories on both sides of the bailout proposal. And lots of emotion as well. But where the rubber meets the road is what really happens to the economy. The credit markets have already shut down and the economy will suffer serious damage in the coming weeks and months as the result. Depending on what Congress does and when will determine the extent and duration of the damage. But the damage won't be the least bit theoretical or opinionated. It'll be real...for sure.
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I'm really interested in which credit markets have shut down? People and companies with decent credit ratings can still get loans. I went car-shopping yesterday and there was no problem, so that market is still alive.
If the shakier credit customers find fewer lenders or higher interest rates, that's the market at work. Who in his right mind lends money to a probable deadbeat?
Perhaps this is an "adjustment" that is necessary because of all the credit fraud, shaky transactions and outright gambles?