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Claeren · 01-22-2009, 10:15 PM

Both?

I think a lot of the people you think have a lot of money are actually maxed out on credit and are just covering their servicing costs - though they would never admit it publically, while a lot of those you think are poor are actually just the savers.... ??

Same with companies. A lot of the companies with conservative values were largely punished for being such these last 5 years or so while those who embraced the high-flying zero-consequences lifestyle of easy credit and big leverage all looked good but are actually pretty hollow when poo hits the fan.

(I think one could make a case that the 'credit crunch' is really just a momentus and chaotic shift of power/money from the 'spenders' to the 'savers' so it is no surprise that many of the elites from the passing era will be under pressure in the new era while many of the thrifty outsiders of the past era will now have an opportunity to be elite if they capitalize on their savings to exploit deficits among the spenders.)

Claeren.

01-22-2009, 10:15 PM	#546
Claeren Franchise Player Join Date: Jul 2003 Location: Section 218 Exp:	Both? I think a lot of the people you think have a lot of money are actually maxed out on credit and are just covering their servicing costs - though they would never admit it publically, while a lot of those you think are poor are actually just the savers.... ?? Same with companies. A lot of the companies with conservative values were largely punished for being such these last 5 years or so while those who embraced the high-flying zero-consequences lifestyle of easy credit and big leverage all looked good but are actually pretty hollow when poo hits the fan. (I think one could make a case that the 'credit crunch' is really just a momentus and chaotic shift of power/money from the 'spenders' to the 'savers' so it is no surprise that many of the elites from the passing era will be under pressure in the new era while many of the thrifty outsiders of the past era will now have an opportunity to be elite if they capitalize on their savings to exploit deficits among the spenders.) Claeren. Last edited by Claeren; 01-22-2009 at 10:27 PM.