| The Credit Crunch will be over when all the lending Institutions have recapitalised.
That process is only just beginning and whilst the banks are beginning to admit how big the holes in their balance sheets are, it is still not clear who is going to cough up all the dough.
Are they expecting the people they have hung out to dry to come up with the cash? Do they have a way of intercepting all the the electronic transfer from the Fed's stimulus package? Or are they simply going to lend the money to one another?
The bottom line is that most of the News you are being fed is crap. The economy is on a downward spiral and the Fed and the Treasury can do little but fiddle the figures and try to talk it up.
When Paulson says,"The long-term prospects of the U.S. economy are very strong, and compare favorably with those of other economies of the world", what he actually mean is that the per Capita GDP of the US won't fall below that of China on his watch. Mind you he isn't actually going to be there after this year is he?
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Yours, Rubber Duck
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