Reply #91: But businesses and governments need credit in order to manage inflow and outflow.

[pnwmom]

A state government, for example, needs to pay employees, primarily teachers, every month. But its revenues don't come in on a regular basis every month, so they use credit to manage the bumps. Businesses do this as well. Their receipts come in on a more irregular basis than their expenses go out. They need credit to manage this. Boeing, for example, needs credit to build the airplanes that it has orders for.

When they talk about "freeing up credit markets" the key credit that must be freed up -- if people are to remain employed -- is credit to employers.