who will continue to extend credit, keeping economy afloat?
car mfrs, until their debt kills them
mortgage financiers, until the foreclosures mount
furniture stores, until bankruptcy
PC makers? doubtful
banks, until loan loss reserves tie up huge cash holdings
foreigners, until they close out US investment accounts
my guess is we continue the DEBT PARADE SHENANIGANS, with missed payments on Power Mortgages, with no payments for 90 days then 120 days, until companies go bankrupt left, right, up, down, front, back, inside, outside
Eric Fry noted on Daily Reck that his furniture rental firm insisted he continue to hold onto the rented office desks and chairs and couches, even after being told by Fry that no rental contract was desired further... the furniture supplier had no place to store all the returned merchandise!!!
we are rapidly approaching an economy where suppliers allow sales with no exchange of money
this practice continues until the suppliers declare insolvency !!!
the WILD CARD is foreigners pulling out, smacking the USdollar
I think the suppliers will fail just about when foreigners bail
is this your father's Cashless Economy ??????
I expect very soon a resumption in the USDollar decline
this decline will short-circuit all stocks and bonds
higher interest rates will be seen, enough to flatten the growth engines in Real Estate and its Financial Arms
/ jim |
