For some reason, economists believe that the main problem with lending is lack of funds and not the deteriorating state of both public and private balance sheets all around the world. They believe in their own omnipotence and the absolute correctness of their outdated economic theories which are daily contradicted by this stupid thing called “reality”.
Just like the stimulus checks of 2007 and all of the other cash infusions, this will bounce around retail for a while before going to the countries that build the cars and other stuff we buy.