"5. Problems with obtaining financing." Bingo.
This is A.G.'s way of telling banks, "LEND, %#$#@&&!!
And when BANKS don't have confidence to lend, and they still don't, what does that tell Jane Businesswoman, or Joe Consumer for that matter? Should they have confidence in the near-term, repeat, near-term future? Of course not. So they don't.
When the CEO at HWP says we think things will get better, but, in the meantime, 4,700 of you will get your final check in the mail next week, well, is Carly expressing confidence in the future yet? And that instance clearly is not company-specific.
At some point, banks will resume their lending. And confidence will be restored. Perhaps it's already happening. May well be.
And there's no question that Greeenie is trying to maintain this momentum in the market. I've never seen a Fed this aggressive. For now, we're back to "valuation doesn't matter any more."
PB |
