Monday, January 09, 2012

I don't know what to say about it honestly.

Just about every day now, something happens that makes me say "wow.. I've never seen that before!"

"Blue-chip names like Johnson & Johnson, Pfizer, and Peugeot are among firms bailing out Europe's ailing banks in a reversal of the established roles of clients and lenders.

One source with knowledge of the so-called repo deals, or short-term secured lending, said the two U.S. pharmaceutical groups and French car maker were the latest to sign up for them.

Europe's banks are struggling to secure the cash to fund their day-to-day business and have largely stopped lending to each other for fear Europe's sovereign debt crisis could land any of their peers in trouble."

When this hits our shore - people are going to scream "why didn't anyone tell us about this". My response will be - what would it matter if they did? On the bright side - if Europe doesn't make it - all these companies will suffer greatly. Oh wait.. I don't know how that is a bright side - but all the things I knew to be true are no longer valid in this world.

"WASHINGTON (AP) — Americans are feeling confident enough in the economy to go back to a time-honored tradition — taking on a little extra debt.

Consumer borrowing surged in November by $20.4 billion, the Federal Reserve said Monday. That's the largest monthly gain in a decade."

Only Americans could be so complacent to believe that credit drying up isn't a huge deal for the entire world. Most especially.... us.

But, hey - get your credit on. I guess.

No comments:

Post a Comment