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HomeWhy I Do Not Trust Washington
Posted by Larry Doyle on May 25th, 2010 11:47 AM |
People can debate the relative strength of the economy all they want. I firmly believe that from a macro-level, our economy has years to go before it has a real chance to recover. Why years?
1. The banking system overall remains loaded with an excessive amount of delinquent loans. Uncle Sam will continue to siphon money from the American public and deliver it to the banks. In the process, these “earnings” will be utilized to write down the values of loans and securities it holds at inflated levels.
2. Credit will not truly flow until the health of banks, especially the smaller and community based banks, is substantially stronger. (more…)
