1 : ready money
2 : money or its equivalent (as a check) paid for goods or services at the time of purchase or delivery
As I walk by the Porsches and Lamborghinis and BMWs and Mercedes and the (formerly) multi-million dollar homes over here, I wonder, how bad do those owners, many now unemployed, wish they could just have the CASH right now, not the assets.
They've lost their jobs. They've lost their income streams. They've lost their credit lines. And it's not just them. They funded the companies. They paid the salaries. They supported the restaurants and the car dealers and the realtors and the clothing stores and the dry cleaners and the travel agents and the private schools and oh, so much more.
And now, cash (not dollars!) HP'ers, is king. As it's been for over a year. As it will be for quite some time. It hath been foretold. By a great man with a great book, the HP bible - Manias, Panics and Crashes.
Too bad more people didn't read it. Everything you needed to know was right there.
September 27, 2008
The final phase is a self-feeding panic, where the bubble bursts. People .. scramble to unload whatever they have bought at greater and greater losses
Posted by blogger at 9/27/2008