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The Economy is NOT OKAY: Consumer Credit Plunges By Record $21.6 Billion

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posted on Sep, 8 2009 @ 08:00 PM
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reply to post by silent thunder
 


Hyperinflation. We have been holding it off with propping things up artificially. There needs to be a healthy bleed.

Bite the bullet...




posted on Sep, 8 2009 @ 08:53 PM
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and yet 89 banks have failed this year... thats a huge amount of space between what they estimated (4 bln) and the actual (21 bln) im not sure what it means but ...damn



posted on Sep, 8 2009 @ 11:03 PM
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I'm not convinced of hyperinflation. If the economy fires up suddenly, then I could understand bank money suddenly getting loaned out and flooding the markets. Even now, the only reason stock markets are up are because the banks poured their liquidity injections into stock funds. Banks will pull that money back when the markets drop.

What I think will happen is the current bear market rally will lose steam, the sugar high of stimulus will be followed by withdrawals. Most likely a deflation will happen since banks won't loan money on depreciating investments.



posted on Sep, 9 2009 @ 12:57 AM
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reply to post by Dbriefed
 


I'm not sure which inflation type will happen but it pretty much assured at this point one of them will.

Edit: spelling

[edit on 9/9/2009 by Tentickles]



posted on Sep, 9 2009 @ 09:13 AM
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reply to post by silent thunder
 


Personally I am for letting an old and seldom seen friend in called the 'truth'.

Wouldn't it be something if the politicians, and bankers could just be honest once and share with us what they are sure 'we lack the intelligence to understand'?

I would rather be poor, hungry, unloved, and lonely than manipulated and lied too.

I would rather know what I really have to do, and what really must happen for things to get better, rather than be manipulated towards it by people whose schemes obviously either don't work out to good, or work out so good that they serve only a selfish and evil end at everyone elses expense.

The system of lies, lies and more lies really serves no purpose except an exceedingly poor one.



posted on Sep, 9 2009 @ 12:18 PM
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The Market Ticker Comments


The important point is that we have never been here before in the post-Depression era. Any and all claims that "The Consumer has reached a bottom", or "The Recession is over" (based on July data) or any such is pure nonsense. There is not only no sign of a bottom there is no change in the second derivative - that is, the rate of change continues to be essentially straight down!



posted on Sep, 9 2009 @ 12:22 PM
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Sometimes I wonder about the cheerleadersWashingtoncheerleaders in Washington, how can people go into the streets and start reinvesting in the economy if they are losing jobs at record pace.

Doesn't the government knows that what got us into this mess was spending on loans and credit?.

Now is not longer credit or loans but neither a job.



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