Inspired by a recent post from Mark Perry, I put together this chart which solidly refutes the popular notion that banks are refusing to lend to consumers, thus condemning the economy to a slow but certain death. While the 10% growth rate of loans over the past year isn't the fastest we've seen (which was just over 20% in the late 1970s), it is much faster than the average growth rate in loans over the past 18 years, as this chart shows. And as Mark notes, the growth rate of consumer loans has actually slowed down in every single one of the recessions—except for this one—we've had since the Fed began keeping records on this in 1950.
This is not your typical recession, as I've noted repeatedly. The implication of all this is that the economy can bounce back from this recession a lot faster than most people are prepared to believe.