2008-05-20 — wallstreetexaminer.com
The most pernicious aspect of this “credit crunch†is the nature of prices right now. First we have hyperinflation or serious inflation in essential goods, and imports. This empties out consumer pocketbooks.
Coupled with this is a deflation in the goods bought on credit and where fuel is used. These are the assets that financial institutions need to repossess and foreclose on to recover their loans.
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