FT.com / Europe – Exporters warn of German credit squeeze
Posted by WARREN MOSLER on June 29th, 2009
Don’t think markets are ready for this:
Exporters warn of German credit squeeze
by Ralph Atkins
June 26th (Bloomberg) — Germany’s powerful export industry is warning of a credit squeeze in Europe’s largest economy even after the European Central Bank’s injection this week of one-year liquidity into the eurozone banking system.
The German BGA exporters’ association on Thursday forecast a “dramatic deterioration†in credit conditions in coming months, which would result in “massive financing squeezeâ€.
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June 29th, 2009 at 10:35 am
Why pull in the credit reigns? Why not give triple the credit of last year or 10 times the credit of 2 years ago? Why pull in credit now? I don’t understand. Shopping machine princess only had 3 local malls to shop in, why not build 50? Who decides? All the water has dried up in the local lakes to supply new houses far beyond any sensible government that wasn’t corrupt and taking bribes.
Who is making these decision to stop the credit flow at the macro levels, I want to vote in leaders who will raid the treasury to give me money and resources beyond my wildest dreams. In fact I propose the US government put in an order to supply every human on the planet with a mosler MT900 supercar, why should just a few rich crooks get to drive it? Also every human on the planet should be given a mosler super yacht as well – Socialism is FUN! WEEEEEEE!!
Look at this travesty from our friendly local banks:
But that suddenly is in disarray. The Piercys have been making their payments, but GMAC has been putting their checks aside, holding the money as “loss mitigation fees,†until their application is completed. It has notified credit bureaus that their loan is more than 90 days delinquent, which has lowered their credit score, disqualifying them for the next mortgage
http://www.businessinsider.com/the-loan-modification-nightmare-2009-6
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