The credit economy of 1970 to 2007 is done. Stick a fork in it. It's cooked. Done like dinner. Over. Finito.
The band plays on, but the iceberg has been struck and the forward compartments are flooding.
We haven't yet seen the worst shocks. Why do you think banks are stashing cash like squirrels on speed?
The legs of the American economy were built on cheap and easy credit to fuel consumer spending. The North American economy, and Europe to some extent, has been based on selling **** to each other on borrowed coin. Welcome to a services economy.
What happens when the currency of the economy (credit) gets short?
The legs of the economy get kicked out. That's what.
Be prepared for a very bumpy 3 to 5 years. It could be that short.
The band plays on, but the iceberg has been struck and the forward compartments are flooding.
We haven't yet seen the worst shocks. Why do you think banks are stashing cash like squirrels on speed?
The legs of the American economy were built on cheap and easy credit to fuel consumer spending. The North American economy, and Europe to some extent, has been based on selling **** to each other on borrowed coin. Welcome to a services economy.
What happens when the currency of the economy (credit) gets short?
The legs of the economy get kicked out. That's what.
Be prepared for a very bumpy 3 to 5 years. It could be that short.
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