Japan’s Premier Aso says U.S. must expand bailout plan
Well I hope we listen to the Japanese. We are not having a liquidity problem. We are having a serious debt and confidence problem that is creating the symptoms of a credit crisis. What the give away sign is that the credit problem is actually so acute and it actually slowing business. When you are dependent on credit, that lack of credit is much more noticeable and effective on your lifestyle. That changes a person perspective and that changes their purchasing behavior. In closing, when you bail everyone out then you bail no one out.
News Piece:
Japan’s Prime Minister Taro Aso said the U.S. government must accelerate steps to bail out financial institutions to help arrest plunging stock values.
“People think the $250 billion plan is insufficient and that’s why markets are falling,” Aso, 68, told lawmakers today in a reference to the U.S. initiative to buy stakes in thousands of financial firms. “They need to make a quick decision to inject capital.”
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