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Cantilever

Banking system already recovering?

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I saw an interview with the president of Barclays. He said the banking systems are well into their recovery. He believes the credit market will open up pretty soon.

 

He said its not a sure thing but as long as nothing largely unexpected happens, things could really open up soon.

 

DO you think this is true?

 

If it is, do you think the banking system recovering is the first step that much happen to get our economy to recover?

 

I think so, Ive seen first had all of the old jobs that are just sitting waiting for the financing, plus the new jobs that havent even started to get going cause they know the credit market is dry.

 

I hope he is right and the banks are close to lending again, I think we could see a boom if we get the credit market to open up enough.

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Maybe. I would figure more available credit will help in construction and associated industries.

 

What I wonder about is consumer spending. Will it bounce back to the former method of living beyond your means, or has this recession created a more debt wary consumer?

 

Personally, if I can't pay cash for something, I won't buy it... that goes for everything short of a mortgage. When I was younger, I bought new cars on payments, etc.; now, I wouldn't even consider a new car and just go with 3-4 year old used and run 'em for 10 years.

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View PostMaybe. I would figure more available credit will help in construction and associated industries.

 

 

 

Well the labor sector is one of the hardest hit sectors in the economy...

 

 

Im in it and see it. But we also think there will be a labor boom whenever credit opens up again.

 

 

Too many old projects on hold and too many new ones waiting to get in the game...

 

 

Alot of people are saying the labor sector could see a big jump when and if the credit market opens up

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Personally, if I can't pay cash for something, I won't buy it... that goes for everything short of a mortgage. When I was younger, I bought new cars on payments, etc.; now, I wouldn't even consider a new car and just go with 3-4 year old used and run 'em for 10 years.

 

My wife and I have 2 cars. One is about 10 years old and was paid off a long time ago when I bought it used, about 7 years ago.

 

 

Also have a Jeep that we bought 2 years ago, that was 2 years old. But we had to finance the used Jeep, we have a couple more years till its paid off..

 

 

When the old car dies I will probably buy another slightly used car with a warranty. Im just hoping that happens after I pay the Jeep off so I still only have one small car payment

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