cristopherW…NAILED IT!!! 100% hit it square on the head!
I’ll also point out that Chris is in the MORTGAGE BUSINESS…a business that in late 2008 & early 2009 STOPPED FUNCTIONING…
Let me repeat this for all the “CANNED FOOD HOARDERS” here with SHORT TERM MEMORY LOSS…
S T O P P E D F U N C T I O N I N G…F R O Z E N.
BANKS would not loan to OTHER BANKS…O V E R N I G H T. :shocked
As the credit markets FROZE…GM and CHRYSLER got SLAMMED by a financial system that literally STOPPED making CAR LOANS!!! Let’s not forget DUBYA’s little GIFT to his OIL BUDDIES in the form of “FREE MARKET” $150/barrel OIL!!! That REALLY put the finishing touches on a car industry already reeling from a housing BUST!!!
At that point what OPTIONS did this country have???
Credit markets completely FROZEN
Money market accounts being drawn down at such a rate that we were within HOURS of the entire banking system being SHUT DOWN.
LIBOR rates at records levels
A stock market in FREE FALL
I love all the NIT WITS out there that say…“Let them all FAIL and CEASE to exist!!!”
I can make ONE GUARANTEE HERE…JUST ONE…
The same GENIUSES would now be SCREAMING that the
G O V E R M E N T didn’t do ENOUGH…That they should have LEARNED from the depression, that all those economic LESSONS were LOST and our entire economy should have NEVER been left to CRUMBLE.
GUARANTEED!!! That is EXACTLY what these boards would now be filled with.
Brockovich also stated FORD was going into BANKRUPTCY!!! Nice CALL!! :beer
Instead…We had MASSIVE Goverment intervention…Banks are LOANING MONEY again…Car sales are UP (and Ford is NOT bankrupt but actually MADE $2 BILLION dollars last year!!!)) Shipping companies profits are up 30+%…Homes mortgages are being made…CAR LOANS are being made…Unemployment numbers have DROPPED every single month since the Jan 09 high of 700,000.
But I’m just a CHEERLEADER…What do I know???
I have MULTIPLE OFFERS on 3 houses I have for sale…Financing for these properties is readily available IF your have GOOD credit…WOW…What a concept??? A FUNCTIONING ECONOMY based on LOANS provided to people who can actually REPAY THEM!!!
But I’m GLAD people here have such SHORT MEMORIES…It allows me to make MASSIVE amounts of money from investments like FORD…Where A N Y O N E that was capable of recalling the LAST 3 recessions could have put together a scenerio for a COMEBACK of at least ONE American Auto maker…Maybe the one that had a CEO who had taken BOEING from a post 911 $10/share GRAVE… to a 2007 $110/share stock???
But again…Why REMEMBER the FACTS???
The PROPAGANDA is so much more FUN!!!