Huge increase in mattress robberies. Police baffled.
Wednesday, 2. July 2008, 16:56:50
According to a news report today, the banks aren't lending as much money out because not as many people are putting money in, or the same number of people aren't putting as much money in, or maybe fewer people are finding somewhere else to....
Never mind. The point is, the banks maintain that the credit squeeze is our fault for keeping them cash poor.
Meanwhile, over at the stock exchange...
It doesn't matter which stock exchange, they all closed down (Or should that be 'Closed down down'?) yesterday because we don't trust big business with our hard earned dosh any more (Honesty break. Actually one stock exchange didn't close 'down' at close of play yesterday, but I can't remember which one and anyway, the odds are on my side...).
Meanwhile over on the high street...
Shops are complaining that we're not buying stuff, and when we are buying stuff it's cheaper stuff. We're not buying houses (Can't get the credit y'see) or buying cars (Can't afford the petrol, natch) and we're even sending texts rather than making calls on our mobile 'phones (Certain conditions apply).
So where is all this money going? All nations have a value which they express in currency, therefore the world has a value; I learnt that in school. That currency is somewhere.
Well I just checked and I haven't accidentally won the lottery, so I've not got it. It must be one of you lot. C'mon, 'fess up. Who's got it?
I think we should be told.
Never mind. The point is, the banks maintain that the credit squeeze is our fault for keeping them cash poor.
Meanwhile, over at the stock exchange...
It doesn't matter which stock exchange, they all closed down (Or should that be 'Closed down down'?) yesterday because we don't trust big business with our hard earned dosh any more (Honesty break. Actually one stock exchange didn't close 'down' at close of play yesterday, but I can't remember which one and anyway, the odds are on my side...).
Meanwhile over on the high street...
Shops are complaining that we're not buying stuff, and when we are buying stuff it's cheaper stuff. We're not buying houses (Can't get the credit y'see) or buying cars (Can't afford the petrol, natch) and we're even sending texts rather than making calls on our mobile 'phones (Certain conditions apply).
So where is all this money going? All nations have a value which they express in currency, therefore the world has a value; I learnt that in school. That currency is somewhere.
Well I just checked and I haven't accidentally won the lottery, so I've not got it. It must be one of you lot. C'mon, 'fess up. Who's got it?
I think we should be told.
WIDGETIZE
cakkleberrylane # 2. July 2008, 23:22
From the information I have gleaned from the finance companies, they have tightened up terribly on the requirements for lending money. I talked to my banker last week and he said that customers that would have had easy sailing through the financing process last year, can't even get a small loan this year. The requirements are becomming tighter literally on a daily basis.
My dad was telling me that investors in Canada are sitting on billions of dollars, afraid to lend it in case they don't get it back. I think that's where the currency may be.
Of course, sitting on investment money does terrible things to the economy. I would think that inability to get financing is the reason people are not buying expensive things like houses and cars. As for the less expensive items, probably the price of gas has something to do with that.