david dissadent
New Member
The banks have no money to lend at the moment as they build up warchests to deal with future write downs. Or at least they had little till the magic faeries dropped about $3 trillion in total into them. But all that big money getting pulled out of hedge funds or being horded by the soveriegn wealth funds is going to be looking for somewhere to invest in the coming months and years.There will be no money for any foolishness like a return to manufacturing. No money for start ups, no overdraft extensions, no MONEY! The successful marketing of debt as credit in the late 70's/ early eighties and the subsequent massive expansion of personal debt is all that has kept us going since we lost all our factories in the early 80's recession. The credit limit has been reached now, business start ups of all kinds will mostly remain dreams.
Britain and the pound are going to be pounded very hard in the coming years.
