The Money Man Behind Rick Santorum: Who Is Foster S. Friess?
Savings Experiment: Snow Removal
The headline consensus on Wall Street is that the banks are stable and no markets are melting down. In short, things are returning to normal.
But we've seen a $1.5 trillion reduction in consumer credit during the past 18 months, and another $1 trillion (at least) is likely to be pulled back in the coming year, according to uber-analyst Meredith Whitney -- someone I wouldn't bet against. And almost no one is getting a home equity line.
The credit crunch will continue in 2010, as lending standards remain high and banks horde their cash to keep themselves afloat.
Lesson for investors in 2010: Less available credit means reduced spending in 2010 and beyond. Invest accordingly.
Next: Lie #7: Consumer Spending Is Returning to Normal
Goldman Earnings Sink After Buffett Dividend
Johnson & Johnson's Income Falls 23%
Burberry Shares Leap on Sales Update
Reader Comments (Page 1 of 1)
12-26-2009 @ 4:34PM
setec5354 said...
100% the banks are still out to rob main street and those that haven't been robbed.
30% immediate credit interest heights and government looking the other way only mean the worst is never over!!!!!!!