The Great Credit Contraction Cometh »
Posted By populist 5 months, 1 week ago in Business & Finance
This is the shift we’ve been talking about for months. The great credit expansion of 1945-2007 is over. Now cometh the great credit contraction.
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populist
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CHAM5 months, 1 week ago
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Excellent POST Populist. A most interesting addition to this story is a provided link to a comparison of 2008 and 2009 25 World's largest Companies. Especially the top ten interested me. For 2009 all the top ten Companies savwe one are either Oil companies or Financial companies.
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That one exception is Wal-Mart. There is a reason for the trend to savings and I take exception to the reasoning of the article's author.
We all should know how the Oil companies came to their obscene profits but how did the financial institutions get all their extra dough?
How about bailouts? Close to a Trillion dollars pumped into Financial companies to allow loosening of credit, right? OK now all give a thought, what are all the Financial companies doing? If you haven't received a notice of higher interest, penalties, fees, and other ungodly costs, then you must be a miracle. People are saving because the difference between bank interest and credit costs is extremely wide.
So the credit outfits got Billions to from us the taxpayer to loosen up credit and instead of doing that they are sticking it up your orifice. You may recall that while those Oil companies were makeikng their record profits with $4.00 gas they also were getting about $600 Billion in subsidies from the Government - that's us you all. So now we have two fingers up our ...
Why did Wal-Mart make big profits during this time? Think about it, when the Oil and credit companies plus their Government cohorts were jamming it to us we were forced to go cheaper, spell that Wal-Mart.
We need to Impeach Obama and bring Bush to face the Judge. Vote out every incumbent next year.
We really need to take back our country.
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