Official figures going back to 1963 show that bank lending has NEVER stopped increasing.Lowest: 1.1% annualised, for the quarter ending 31 December 1966.
Highest: 44.9% annualised, for the quarter ending 30 June 1972.
Median: 11.9%
Mean: 13.45%
Is it my imagination, or does the graph spike regularly before stockmarket crashes and recessions?
Original BoE data here.
In the late 60s, my school magazine carried a major bank's advert, for 16-year-old school leavers to join them. I aimed at a degree instead. Perhaps I'd have chosen differently if the ad had read "39 thieves looking to recruit trainee".
1 comment:
Is it my imagination, or does the graph spike regularly before stockmarket crashes and recessions?
Yes, isn't that interesting now?
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