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Politics : Formerly About Advanced Micro Devices
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To: combjelly who wrote (575058)7/6/2010 11:17:09 AM
From: Tenchusatsu3 Recommendations  Read Replies (1) of 1571088
 
CJ, > There is a reason why Krugman doesn't recognize it, it doesn't exist.

Banks are afraid to lend because they're holding too many toxic assets. People are afraid to spend because they're sitting on upside-down mortgages. Businesses can't get the credit they need unless they go to the government for some specific purpose.

Government programs like the FHA loans are designed to prop up the real estate market, but even then, the banks are very reluclant to lend or sell foreclosed homes to FHA recipients because of the fear that they'll fall underwater later.

I don't know why you're denying the existence or the effect of all the debt that is waterlogging the system. Go ahead and call me a loonie if you want. Go ahead and blame the Republicans for the Democrats' failures. That's all you got, it seems.

Tenchusatsu
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