ValueHunter

A Bad Day, Yes, But Enough with the Hyperbole

The problem with this "crisis" is that no one seems to understand why it is a "crisis". One day I read that because banks won't lend to each other, everyday business operations like payrolls, etc. are in jeopardy and threaten to shut down otherwise healthy businesses. That would be an emergency, but then the next day I read that that is not the case, that these arrangements are not in danger. Then I read that the credit gum up is putting the ability to borrow for expansion, mortgages, etc. under heavy stress. Well, that doesn't seem to me to be an immediate problem that needs fixing within 48 hours. I read and I read and I still don't have a clue as to what is happening or what any possible common sense fixes are. Honest experts that are studying the matter are confessing they don't know either. So on that basis, I find it difficult to support a 700 Billion bailout for gamblers and consider what has happened so far a correction. Are we on the edge of the Abyss? I have no idea.