What I have gleaned from the news is that auto sales are down largely because of poor access to credit for buyers.
This is not exactly the fault of manufacturers. Sales are down for all brands of car.
We are still in a time of failure of financial institutions.
The explanation for this is largely obscure.
We are told it is bad debts on the books of banks.
Maybe this would be a good time to open a new bank? Unencumbered by the old obligations.
WHY ARE NEW BANKS NOT OPENING?
Is it so hard to open a bank?
We are relying on all the old institutions that have solvency problems.
I do not understand why new institutions are not opening. Monetary policy right now is very stimulative. Interst rates are at all-time lows.
WHERE ARE THE NEW BANKS?
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