Kasz216 said:
Weren't you the one earlier talking about how you couldn't get any loans from a bank... or maybe that was someone else. There is plenty of demand for loans. Regardless, most rich people don't put much money in banks, they invest it in other things that promise greater return rates. |
I don't believe I said I couldn't get any loans. I am not trying to get loans from a bank. I definitely could use help coming up with a business plan so I can raise money to start a business, or help getting employment.
And yes, I am sure there is plent of demand for loans. However, if the marketplace won't support new businesses, it is going to be hard to lend out money and expect it to return. There is contracting going on, because there was a bunch of malconsumption and too much risk-taking going on in the market before the meltdown. People maxed out credit cards and then used their homes as credit cards. People bought stupid stuff, and there was too much expansion.
The problem now is that no one knows where the expansion is. The U.S government privatized the Internet and turn that into a dotcom bubble. Then they decide to create a bubble in housing, and it didn't work. There is talk of green jobs. But exactly where are those jobs? And where is the money in it, unless there is heavy rigging of the economy and tax code, to try to factor in climate change? That is the problem. And look for a glut of workers to go into green jobs at this point, because it is a buzzword. No guarantee green business will produce sufficient jobs. If it is merely shifting of energy demand into new areas, then how does that add new jobs? It doesn't. It merely reallocates workers to new places.
I think people are underestimating the change going on, on here, and bringing out old answers.
