What Credit Crunch ?
September 26th, 2008 by Shiplap
TGIF, another work week down the tubes, and another trash can full of credit card offers and personal loan applications.
Experiencing a moment of bewilderment, I asked Mrs, Shiplap, “if there is a credit crunch, why am I still getting all of these in the mail?”. “I don’t know, I’m still getting them also” she replied.
Pondering this further, the logical assumption that I have reached is yes, there is a credit crunch, but only for those who have no credit, or bad credit. Isn’t this the way credit is supposed to work? Isn’t forgetting this basic tenet how we got into this mess in the first place?
Maybe, just maybe, given our current state of affairs, the understanding that no credit means no credit, is a very wise philosophy.
This entry was posted on Friday, September 26th, 2008 at 7:24 pm and is filed under Economics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
September 29th, 2008 at 7:13 am
If you have decent credit there is no credit crunch. I am currently refinancing and asked my loan officer about it. This “crunch” is better defined as “returning to the higher standards common years ago”.