Real World-How many of your longt ime customers are now closed?

On Mon, 26 Jan 2009 12:14:23 -0800 (PST), Charlie Gary
<snip>

<snip> ------------------ More light, less smoke and less heat on this topic.
=============How Government Created the Financial Crisis Research shows the failure to rescue Lehman did not trigger the fall panic.
By JOHN B. TAYLOR
Many are calling for a 9/11-type commission to investigate the financial crisis. Any such investigation should not rule out government itself as a major culprit. My research shows that government actions and interventions -- not any inherent failure or instability of the private economy -- caused, prolonged and dramatically worsened the crisis. <snip> ------------------ http://online.wsj.com/article/SB123414310280561945.html
While this article makes some good points, IMNSHO two major contributing factors were the repeal of a number of financial restrictions [Glass-Steagall and the uptick rule] and the failure to generally enforce the remaining restrictions, such as the 10% reserve requirement on the banks.
In any event, it is like the causality chain for an "accident." Interrupt or decouple any of the links and you prevent the "accident."
It is worth noting that the government now has pumped so much money into the system that they are on both sides of an increasing number of "deals." For example Citigroup is a major GM creditor.
To the extent the government "protects" the taxpayer "investment" in GM by going to the head of the creditor line in a bankruptcy, they penalize Citigroup, which is also taxpayer supported. Heads the taxpayers lose, tails the taxpayers lose....
Unka' George [George McDuffee] ------------------------------------------- He that will not apply new remedies, must expect new evils: for Time is the greatest innovator: and if Time, of course, alter things to the worse, and wisdom and counsel shall not alter them to the better, what shall be the end?
Francis Bacon (1561-1626), English philosopher, essayist, statesman. Essays, "Of Innovations" (1597-1625).
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Michael wrote:

Nobody's gone under yet, but then I'm rather amazed a couple of them made it this far... Vendors seem to be doing OK too, though happier that usual for anything I send their way. This is California, northeast of Sacramento.
Jon
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So far not planting peanuts....
--






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They are, and you misspelled "penis". LOL
JC
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Place I work has dropped down to 32 hours. I'm not worried, I have faith in them, the trade and my skills. However...This is the first time in 23 years I've worked anywhere under 40. The good news is...had this happened 10-15 years ago I would of went bankrupt, but these days I live quite lean. Seems like we at least had warning, and lots of people now can handle a slowdown. Not everyone I know, but things are slowing down in a good way because WE ALL are slowing down together.
My advice for the world is SLOW DOWN!!! Universal double time for hours over 32. Now that would fix global warming and every other problem that plagues humans.
Except obesity. lol
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    --Got one old customer but he's seasonal.     --Got one new customer but I suspect he's a kook. Sigh.
--
"Steamboat Ed" Haas : Do us a favor and rescue
Hacking the Trailing Edge! : a doggie or three...
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