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Likewise in the realm of financial markets, insufficient, inept or ignored regulation plays into the hands of those who would systematically abuse the system no matter what the cost to others. And that, I believe, is what we have seen. (c.f. the previously quoted article).
So the bank won't lend for us to get the job started, we won't earn any money and will be unable to pay our mortgage, bills, etc. Very helpful and just going to mean that the bank get one more worthless house to try and sell on. I'm not an accountant but that scenario just doesn't add up.
Our other option was to buy what we need upfront using our usual suppliers and paying on our usual 30 day accounts but none of our suppliers can offer any accounts anymore because they too have zero credit available from their banks.
Originally posted by harvib
The question people should be asking is why is this cyclical decline being used to create fear and panic?