There Is NO Economic Recovery HappeningMarket Ticker
Jan. 10, 2010
Look folks, this is really quite simple.
Economic Stability and Recovery = Credit Expansion.
We cannot recover until we purge the excess debt from the system, and the longer we take to do that, the longer the pain will last and the worse it will be.
President Obama and Tim Geithner know this - that's why they are constantly harping on banks to "lend more."
Well, they may want banks to lend more but the people are fed up with being debt slaves and are borrowing less.