V shaped recovery, assets inflating worlwide...FED talking exit strategy, how they're going to MOP UP all the escess liquidity. Talk of China real estate bubble.
Let me sum it up in a basic argument, how in the love of mike can you have a sustainable expanding economy when the doggone Bank Loans are contracting like never before seen by anyone under 100? The contraction of bank lending continues unabated!!
Credit card balances have CONTRACTED by almost 30% !! Loans for real estate continue to contract, HUGE number underwater so no home equity, no loans.
Commercial loans down almost 20%......now while all this is going on, Excess Banking reserves soar to a new record......at least in China when they say LOAN THE DAMN MONEY THEY LOAN THE DAMN MONEY....it seems in our stupid ass system....we ACT like we ask for the Banks to loan while the FED is paying the banks NOT TO LOAN!!!!!
STAGNANT is the best word you could use for our economy. Office furniture sales have fallen from near $12 B in 2008 to around $7.4 B est in 2010....OUCH!!!!
Dont look now but the ECRI index that did good job diagnosing recovery...has topped out and been down now 7 weeks in row.....
ONLY thing I see expanding is the unaudited BS....
D
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