Tuesday, December 08, 2009
Uber-bank analyst Meredith Whitney thinks the U.S. government is "out of bullets" when it comes to helping out with credit and employment in its still ailing economy.
There's more here in a separate report at CNBC where we hear repeated the conventional wisdom that Americans being denied credit is one of the major factors behind the struggling U.S. economy. Whitney sees consumers as being "kicked out of the financial system" due to limited access to credit but, surely, some of them are really leaving voluntarily.
Of course our credit and consumption based economy doesn't function very well when credit stops flowing but it would probably be important to know to what extent it is lack of demand, rather than lack of supply, that is causing credit (and our economy) to drop.
As if completely clueless about the nature of the problems facing the U.S. economy, CNBC provides the following link at the bottom of the Whitney story:
That's not going to help the country "recover"...