Comments on: Total Credit & Loan Contraction Reaches $1.1 Trillion Since Peak; Volume Down 5.9% From 1 Year Ago http://www.economicsjunkie.com/total-credit-volume-down-5-9-from-1-year-ago/ True Economics Applied in the Real World Fri, 10 Feb 2012 18:24:09 -0800 http://wordpress.org/?v=2.8.6 hourly 1 By: Nima http://www.economicsjunkie.com/total-credit-volume-down-5-9-from-1-year-ago/comment-page-1/#comment-3968 Nima Sat, 17 Oct 2009 11:21:29 +0000 http://www.economicsjunkie.com/?p=3060#comment-3968 nothing about this crisis is good. i wish we would have never created it. but within the confines of the crisis, yes it is good to see a contraction and cleanup of debt. but the problem right now is that people are acting like it's all solved and trying to go back to previous spending patterns. meanwhile credit conditions are deteriorating. THAT is what I view as dangerous. when perceptions are out of tune with reality, the inevitable correction will hurt even more. the bad thing, if you will, is the fact that this contraction is happening only now. we could have let it happen 2 years ago. we could have let all the other necessary corrections and bankruptcies occur then. we would be in our second year of a true rebound, growth, and job creation now. but where are we? we are merely on the eve of another dip in economic activity. we will be testing new lows sooner or later. it is this that i criticize, and have been criticizing since the crisis has started, heck i even warned about it way before the crisis started ... nothing about this crisis is good. i wish we would have never created it. but within the confines of the crisis, yes it is good to see a contraction and cleanup of debt.

but the problem right now is that people are acting like it’s all solved and trying to go back to previous spending patterns. meanwhile credit conditions are deteriorating. THAT is what I view as dangerous.

when perceptions are out of tune with reality, the inevitable correction will hurt even more.

the bad thing, if you will, is the fact that this contraction is happening only now. we could have let it happen 2 years ago. we could have let all the other necessary corrections and bankruptcies occur then. we would be in our second year of a true rebound, growth, and job creation now.

but where are we? we are merely on the eve of another dip in economic activity. we will be testing new lows sooner or later. it is this that i criticize, and have been criticizing since the crisis has started, heck i even warned about it way before the crisis started …

]]> By: Lior Abraham http://www.economicsjunkie.com/total-credit-volume-down-5-9-from-1-year-ago/comment-page-1/#comment-3967 Lior Abraham Sat, 17 Oct 2009 10:56:35 +0000 http://www.economicsjunkie.com/?p=3060#comment-3967 isn't this a good thing? we were hella overextended, which you were against. isn’t this a good thing? we were hella overextended, which you were against.

]]> By: Money Supply – September 2009 | EconomicsJunkie.com http://www.economicsjunkie.com/total-credit-volume-down-5-9-from-1-year-ago/comment-page-1/#comment-3952 Money Supply – September 2009 | EconomicsJunkie.com Fri, 16 Oct 2009 08:11:48 +0000 http://www.economicsjunkie.com/?p=3060#comment-3952 [...] along with an ongoing and accelerating credit contraction, will be forces blowing in the face of all futile attempts to reflate the bubble. Related [...] [...] along with an ongoing and accelerating credit contraction, will be forces blowing in the face of all futile attempts to reflate the bubble. Related [...]

]]> By: Deflation Reaches Social Security Administration; No Cost of Living Increases in 2010 | EconomicsJunkie.com http://www.economicsjunkie.com/total-credit-volume-down-5-9-from-1-year-ago/comment-page-1/#comment-3940 Deflation Reaches Social Security Administration; No Cost of Living Increases in 2010 | EconomicsJunkie.com Thu, 15 Oct 2009 09:09:57 +0000 http://www.economicsjunkie.com/?p=3060#comment-3940 [...] value of unfunded public liabilities has begun to fall, adding in a major way to the current record contraction in credit and loans. Related Posts:Total US Credit and Loans - How Much Contraction Since Peak?Consumer Price [...] [...] value of unfunded public liabilities has begun to fall, adding in a major way to the current record contraction in credit and loans. Related Posts:Total US Credit and Loans – How Much Contraction Since Peak?Consumer Price [...]

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