I was isolated in the southern Patagonia since last Tuesday, so I can truthfully say I have not been caught up in what appears to be a global "panic attack" over the Japanese radioactivity problem. I have some time today so I am beginning to catch up on the recent statistics that I've missed. This chart further confirms the pickup in C&I Loans (bank lending to small and intermediate-sized businesses) that I have been highlighting the past month. Loans are up at a 7.8% annualized rate over the past 3 months. That's significant. Deleveraging now appears to be a thing of the past, in aggregate. Confidence is returning, and this bodes well for the future.
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