Thursday, August 13, 2009

BROWN SHOOTS

"This is not about how much money banks can lend, it is whether there is any borrowing capacity and desire among consumers. The attempts by the media and government to stoke "animal spirits" among shoppers are doomed to fail because there are no jobs, there is no borrowing capacity, and there is no ability to pull forward demand - consumers officially hit the wall in JANUARY but nobody in the media will talk about it."

complete article must read

No comments: