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Senior Advisor

Re: Did anyone watch "Too Big to Fail?"

I am not saying that we are enjoying a brisk recovery. However, we did avoid a total collapse of the economy. So while we have 9% unemployed we do not have 25% or 30% unemployed.


The availability of credit is a great catalyst for business activity. The lack of credit is a business killer because the capital intensive businesses of today must have a strong revolving line of credit. Those of us experienced in the ag crisis in the 80's know how that works.


We in the ag sector are ever so lucky that our banks were solid during this recent fiasco. Thus farmers were not stuck in a debt burden stupor while city folks were losing jobs and their homes.


Re: Did anyone watch "Too Big to Fail?"

U6 unemployment is around 18%. Credit is still falling, I'd dig up the charts to show you but I'm just not interested in hunting them down at the moment. The only growing segment of debt is student loans. We're hiding the depression behind safety nets and false data.