No wonder most of us have difficulty understanding the financial equivalent of the matter-antimatter drive powering the USS Enterprise. You'd think lending would have decreased, wouldn't you? Smoke and mirrors...
Hi, Nikolay. Lending is supposed to have been contracting sharply and M4 is supposedly a measure of bank lending, yet these stats up to end December don't appear to reflect that.
Hi, James. I think Anthony Worrall-Thompson would confirm that we are; it's just that these M4 stats don't seem to be much of a guide to what's happening. Funny that we can measure the height of Everest down the last millimetre or two, but even long-practised experts (e.g. Brad Setser) have to guess where the money is and where it's going.
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can you explain what do you mean?
Hi, Nikolay. Lending is supposed to have been contracting sharply and M4 is supposedly a measure of bank lending, yet these stats up to end December don't appear to reflect that.
So, are we in a crunch or not?
Hi, James. I think Anthony Worrall-Thompson would confirm that we are; it's just that these M4 stats don't seem to be much of a guide to what's happening. Funny that we can measure the height of Everest down the last millimetre or two, but even long-practised experts (e.g. Brad Setser) have to guess where the money is and where it's going.
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