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Monday, March 1, 2010

Rosenberg Daily - Bank Credit Still Contracting

Let’s take it at face value that as long as bank credit is still shrinking, the jury will continue to be out regarding ... the ability of the economy to sustain above-potential growth. ... On a 13-week rate of change basis, bank lending to households and businesses has collapsed at over a 12% annual rate, and the declines have been broad based across personal loans, credit cards, mortgages, home equity lines of credit, commercial real estate and industrial loans.

Rosenberg, 3/1

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