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The US is in a liquidity trap. There is no shortage of capital or lending capacity, but there is a shortage of  borrowers who are both creditworthy and willing. In such a situation those with cash know that others with cash will be putting money into the stock market, so they do also. This works until it doesn't.

"It is not necessary to have hope in order to persevere."
by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Sun May 18th, 2014 at 05:20:32 PM EST
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