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Notes to myself, possibly of interest to others.
-- Bill Northlich

Tuesday, October 5, 2010

Rosenberg Daily - Bank Credit Declines

...for all the talk of recovery and reflation, from our lens, these are next to impossible without credit expansion. The latest data from the Fed showed that in the September 22 week, bank credit contracted $71.8 billion on top of a $13.7 billion decline the week before for the sixth steepest slide over a two-week span on record (and right across the board from business credit to real estate to consumer loans).
---Rosenberg (free subscription rqd)

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