...But at the capillary level, though, the economy is dying and gangrene is setting in.
A chart from "It’s Still the Worst Deflation in US History":...Here’s year on year growth in commercial and industrial loans from weekly reporting banks in the US:
A 20% decline year on year does not look like a recovery. In fact, it looks like nothing we have seen since the Great Depression. C&I loan growth lags the end of recessions, to be sure, but this extreme level of credit reduction suggests profound trouble....MORE
