Credit crunched ?????

Question

do you think the credit crunch will ever end and what would you do to reduce your bills and if it didnt end what would happen to the whole world

Answer 1

credit will change.  there are bad times and good times.  if you have good credit you have nothing to worry about.  once the housing market starts coming back, thing will be better it will take some time. the world will go on no matter how credit acts.  at one time there was no such thing as a credit card.  people abused the privilege of using credit cards.  they got into trouble.  pay off your credit cards.  use only one card and pay it off at the end of the month. people used credit cards to purchase items to live like the they had free money. its easy to go shopping with a credit card.  people forget they have to pay the bill at the end of the month when buying things.  when the time comes to pay the bill, they only pay the minimum payment; which only pays the interest and a little of the loan. yes i said loan,  a credit card is a short term loan.  hope this helps explain things to you.

Answer 2

This credit crunch and all credit crunches are due to the system within which we operate; normal investors put money into businesses and get a reward by dividend, Speculators many of whom are the super rich deliberately cause runs and turmoil to further their own gains, go to any library borrow a book on investing and you will see how this is done.

We ordinary folk have to put up with the turmoil that is easily spread and compounded by rumour and panic.

If everyone stood back and had a careful look at what is moving on the stock markets and also what is happening with commodities like Oil, Grain, Fuel, you can see where the greed stems from, for believe me someone is upping the price beyond reason and the best way to foil their game is to boycott their area until they lose money, that brings the price down... as for the banks well they do need to have a d**n good look at the staff they are employing to make daily decisions on their behalf and in the States they need to regulate them better and demand greater backup resources before they allow them a license... it is far too easy to open as a bank in America and once open they can borrow from bigger banks who borrow from bigger banks who hedge their bets on the world banks and so on.....until it all grinds to a halt.. and we bear the brunt until the cycle kicks off again but like I say not everyone is a loser in this system for some get even richer.  

Answer 3

The expression 'credit crunch' is more emotive than descriptive. Finance fluctuates. Big businesses rely on credit in many different ways, it's just that times are hard - comparatively speaking. Nobody is going to die. And yes it will end. Personal credit restriction is no bad thing. Many years ago you had to prove to your bank manager that you didn't need a loan to get one. People had to save to buy the things they wanted. But there was no misery due to inability to repay. Ahh.....those were the days.