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Thread: Small Business Aid Bill

  1. #11
    Senior Member menmon's Avatar
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    Everyone assumes that there is no demand on this thread. There is demand for goods and services but credit is still tight mainly because small banks are bouged down with bad real estate loans, therefore, even though they would like to make loans, they can't because it requires capital and loan losses has eaten up their capital. Furthermore, bank examiners are requiring them to put more and more into loan loss reserves thus tying up more of their equity and raising capital in the private sector is very costly and very limit currently.

    Someone said that good companies can get money, that is true to a point, but many can't get everything they need thus they are passing on good opportunity.

    This is a good bill and good for all, but I know Beck and Rush have already made up your minds on the subject based on the comments so far.

  2. #12
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    Quote Originally Posted by sambo View Post
    Everyone assumes that there is no demand on this thread. There is demand for goods and services but credit is still tight mainly because small banks are bouged down with bad real estate loans, therefore, even though they would like to make loans, they can't because it requires capital and loan losses has eaten up their capital. Furthermore, bank examiners are requiring them to put more and more into loan loss reserves thus tying up more of their equity and raising capital in the private sector is very costly and very limit currently.

    Someone said that good companies can get money, that is true to a point, but many can't get everything they need thus they are passing on good opportunity. doesnt matter when the unemployment is officially about 10% and unofficially much much more than that - people aint gonna buy your goods!

    This is a good bill and good for all, but I know Beck and Rush have already made up your minds on the subject based on the comments so far.
    its real simple to me - i dont care what rush or beck say. the stimulus hasnt worked yet, and everywhere they pour money its a sieve. heard another story today how some untold millions of dollars spent somewhere created 4 or 5 jobs. i dont even listen anymore, its too depressing, comical, and stupid all at once.

    but dont forget, this is recovery summer!!

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    Insight on the struggles of making it as an American small business owner, with Bernie Marcus, Home Depot co-founder.


    http://www.cnbc.com/id/15840232?video=1593436488&play=1

  4. #14
    Senior Member menmon's Avatar
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    Quote Originally Posted by david gibson View Post
    its real simple to me - i dont care what rush or beck say. the stimulus hasnt worked yet, and everywhere they pour money its a sieve. heard another story today how some untold millions of dollars spent somewhere created 4 or 5 jobs. i dont even listen anymore, its too depressing, comical, and stupid all at once.

    but dont forget, this is recovery summer!!
    Don't forget that the other 90% are still employed and buy goods and services.

    Do you know the difference between a reccesion and a depresion? Answer: A reccession is when your neighbor is out of work and a depression is when you are. I realize this is not very sensitive, but my point is most americans are still working and their demand will fuel more jobs.

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    Senior Member dnf777's Avatar
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    Quote Originally Posted by Hew View Post
    Loans against your receivables are a good/safe example. Loans to finance filling an order. You gotta spend money to make it.

    I dunno, but in my tiny little corner of the world it's not the tightening of credit to small business that hurt as much as the tightening of consumer credit. All the credit in the world won't matter for me if my customers can't get credit.
    If you carry your example one step further, maybe if consumers had not been so credit happy in the past decades, much of the foreclosures and toxic assets would not be a problem today. I agree with using credit in certain cases, such as for necessities, but boats, BMWs and plasma tvs are not necessities in my book. There's plenty of blame to go around in our current credit situation.
    God Bless PFC Jamie Harkness. The US Army's newest PFC, but still our neighbor's little girl!

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    Senior Member Franco's Avatar
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    Quote Originally Posted by sambo View Post
    Everyone assumes that there is no demand on this thread. There is demand for goods and services but credit is still tight mainly because small banks are bouged down with bad real estate loans, therefore, even though they would like to make loans, they can't because it requires capital and loan losses has eaten up their capital. Furthermore, bank examiners are requiring them to put more and more into loan loss reserves thus tying up more of their equity and raising capital in the private sector is very costly and very limit currently.

    Someone said that good companies can get money, that is true to a point, but many can't get everything they need thus they are passing on good opportunity.

    This is a good bill and good for all, but I know Beck and Rush have already made up your minds on the subject based on the comments so far.
    The small well-run banks have plenty of money to lend. It is the poorly run banks that need the bailout money at the tax payers expense. The current administration likes to reward failure at the expense of the prudent.
    It's such a shame that in the USA, defending Liberty has become such a heroic deed.

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    Quote Originally Posted by sambo View Post
    Don't forget that the other 90% are still employed and buy goods and services.

    Do you know the difference between a reccesion and a depresion? Answer: A reccession is when your neighbor is out of work and a depression is when you are. I realize this is not very sensitive, but my point is most americans are still working and their demand will fuel more jobs.
    But the other 90% are scared that they will soon be on the 10% side! Anybody with half a brain should be reducing debt and trying to make sure that they will be financially safe if they find themselves suddenly unemployed. That would be the smart thing to do, not spend money on things that aren't considered necessities.

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    Quote Originally Posted by ducknwork View Post
    But the other 90% are scared that they will soon be on the 10% side! Anybody with half a brain should be reducing debt and trying to make sure that they will be financially safe if they find themselves suddenly unemployed. That would be the smart thing to do, not spend money on things that aren't considered necessities.
    Duck is right. While we don't have any debt other than our mortgage, we have deleted all non esential spending and are increasing our savings every month just in case anything happens.
    Hihope Hiland Heathen of Perth CD, RE, CGC, TDI

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    Senior Member dnf777's Avatar
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    Quote Originally Posted by ducknwork View Post
    But the other 90% are scared that they will soon be on the 10% side! Anybody with half a brain should be reducing debt and trying to make sure that they will be financially safe if they find themselves suddenly unemployed. That would be the smart thing to do, not spend money on things that aren't considered necessities.

    It shouldn't take the worst recession since '39 to induce those basic practices. There was a time when very few had credit cards, and ALWAYS did their best to maintain a safety net, just in case. That's sound financial management, not just crisis mode.
    God Bless PFC Jamie Harkness. The US Army's newest PFC, but still our neighbor's little girl!

  10. #20
    Senior Member Hew's Avatar
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    Quote Originally Posted by WaterDogRem View Post
    Sounds like a scary/risky business plan to me. What happens if the order is cancelled after taking your loan? What you describe is not "spend money to make money", but "take debt to spend money to hopefully make money". Great IF that works for you, but I know I'm weird for not believing in having debt in America.
    I reckon that's why there's more than one flavor of ice cream. Anyone who considers taking a loan against receivables as scary/risky business isn't "weird" per se, but to me, that's just overly cautious and plain ol livin' scared. You've never had a mortgage?

    I'll take my risks with my money and expect the govt. to mostly stay out of my way and not tax too much of the money my risked capital and hard work produced. On the flip side, I do not expect the govt. to come to my rescue should my risk tank. When much is risked, much is rewarded; good or bad. When the govt. interferes with the reward system (taking from those who prosper and propping up those who fail) it screws the game up.
    I'll take the river down to still water and ride a pack of dogs.

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