These are tough times ladies and gentlemen. Be prepared for things to get tougher.
Tougher that is if the media doesn’t put a lid on it.
Yes, there are issues at the macro level of the U.S. economy where we may not feel the effects of those issues until early 2009.
What is at issue is that all those banks that “banked” on less than marketable home mortgages are now fearful of lending money.
What does that mean to you and I?
Not much for now.
But, for small business owners who rely on bank loans to make payroll, it’s going to be tough.
Not to pose doom and gloom but if small business suppliers and vendors cannot supply each other because there is not way to make payroll…then. Oh well.
Thanks George W.
Instead of focusing on Domestic issues, we have spent $2 billion a week fighting a war that is 2,00 years old.
Could we have seen this coming?
I’m not sure but it doesn’t take a rocket surgeon to figure that if you lend someone money who doesn’t have money, there is a good chance you won’t get paid back. Duh.
Instead of policing Domestic issues, George W. thought it best to police other countries.
So for all of you small business owners who will soon feel the pinch of no working capital to fund your operations, you can thank George W.
What a great President…not.