(11AM EST – promoted by Nightprowlkitty)
The Reaganomics, working as forecast, not by supporters of!
Why isn’t the economy moving, watch or read this clip report from last night. A simple explanation of how and who controls what, as the repub or conservative meme’s coming from the top to their herds about how their ideology on capitalism and the economy will cause prosperity, especially the continuing saying it will help small businesses develop and grow, for everyone, ‘Trickle Down’. There is very little private capital, their grease for the economic machine, being invested into small businesses as we talk and hear about billions between corporations and wall street and multi millions into the pockets of the corporate execs with ever growing tax write off corporate perks to go along with their huge tax cuts!
AIR DATE: June 21, 2010
Amid Hopes of Economic Recovery, Small Businesses Battle Credit Crunch
SUMMARY
In his ongoing series of reports making sense of economic news, Paul Solman examines the struggles of companies to gain enough credit to stay afloat as lending remains tight. TranscriptGWEN IFILL: Next: a story about companies desperate for credit in order to stay afloat.
It comes from “NewsHour” economics correspondent Paul Solman, as part of his ongoing reporting Making Sense of financial news.
Snip
JACK STACK: The old days of taking collateral is gone for now. The credit is so tight, you know, the only way you’re going to be able to borrow is going to be on a cash-flow covenant, all right? And they could care less about your assets. So, if in fact you’re not generating the proper cash flow, you’re not going to get the proper credit.
Snip
PAUL SOLMAN: So, this is an affirmation of the cliche, banks only lend money to people who don’t need it?
MEGHAN CHAMBERS: I guess you could say that is. –>–>–>
Myself, for whatever strange reasoning they may have, I believe many are also keeping that private capital out not only as to their own greed but for the politics of the economy, hoping it will stay stagnated and possibly collapse again, keeping fingers crossed that it won’t be a huge collapse!
Reagan Revolution is dead, the followers of just haven’t laid down yet even with all the nails in the coffin!