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This was a big day for economic reports and the Case Shiller Q4 report, the Consumer Confidence Index, and the FDIC Q4 report came out with not-so-surprising results. Since I am occasionally accused of cherry-picking negative data, I wish to point out that the following is a report and analysis of the data as it [...] By Jeff Harding. The esteemed Ambrose Evans-Pritchard of UK’s Telegraph makes the unstartling announcement that U.S. bank credit has been shrinking for the past three months at a rate (14%) that has not been witnessed since the 1930s. Professor Tim Congdon from International Monetary Research said US bank loans have fallen at an annual pace [...] |
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