House of Paine

regular jill and joe face credit constraint

  leave that headline up

til it sinks in

  its not all about rates of interest either 

its about the bulk credit ration

allowed to geep household borrowers

watch as the fed skins 
tighten the standards and chop amounts 


and remember forest rangers
all this can go down 
behind a stable set of interest rates ......



===========================


 of course to maintain effective demand over all 
 becomes problematic 

  if wages don't spurt 
or exports explode 
cause the outside world craves our shit 

and/or exports further blem up
and  imports get squoozen 
by a  rapid and deep
dollar tumble 

or gubmint don't increase expendiutures
 or reduce taxes 

or corporate amerika goes on a plant and equipment
         building tear 

we're headed for stagnatory waters 
fellow citizens ....... prepare 
to snooze if your rich or lucky
and  sink if u ain't