The biggest challenge in this
economy, or so we were told, is getting credit, but that only lasted a week,
tops. Car dealers first reported they can't get credit for more than half the
normal applicants, and automobile manufacturers can't sell their cars to
dealers as a result. Still, don't let that make you think the economy has came
to a halt. Car dealers have already began to find lenders who will finance
people outside the banks, credit unions are still in business because their
shareholders committees only approve the best possible loan candidates, and
automobile manufacturers are offering financing plans because they too want to
remain in business. Yes, Americans are finding ways to get loans to keep the
economy moving, and they did it without the help of the government, as the
Washington bailout has not yet delivered money to anyone before businesses
starting finding solutions to their own problems.
It
does not end there. Banks are starting to lend each other money again, simply
because banks, just like everyone else, need to balance their books. So, at the
end of the business day, if banks have extra cash on hand, they loan that out
to other banks, making interest along the way, allowing banks which have dmore
ollars loaned out than expected, able to make sure that loaned money is in
their books, also making money on those loans.
Overall, Americans are far more resourceful than Washington believed and Wall
Street cared to admit. What we saw was panic. American consumers and business
operators are moving ahead because this is what we do as Americans - we spend
money to buy things people make, thus move our economy forward. In the end, the
Washington bailout is a feel good measure that really won't affect the economy,
as American consumers have already boosted the economy - the recovery has
already started.
Yes, we had a market correction,
and that is what it was - a market correction. The stock market will come back.
It always does. We just got past the point where people spent too much and
everyone got excited, now that bubble is over, and we are moving on. The
biggest problem we have now is dwelling on the past and not looking forward.
The fact is the American economy is moving forward before any bailout plan
affected any home owner, so in the long-run, the bailout is and will be found
to be useless. Optimism and the American spirit are already moving us forward.
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