Tuesday, February 24, 2009
This is the first appearance of this chart, but it falls under the rubric of "no shortage of money" which has received plenty of attention here over the past several months. We keep hearing and reading that banks are very reluctant to lend money these days, and the economy is suffering as a result. Well, the reality is considerably different from the hype, as this chart demonstrates (data through the end of January '09). Bank lending to consumers has actually accelerated over the course of the past 12-18 months, and currently stands at a new all-time high.
Posted by Scott Grannis at 1:44 PM