Z1 Report just released.
Not good... -$202B(q2q) for Q1 2010 at $52.126T from $52.902T in Q1 2009. Credit system is collapsing.
http://www.federalreserve.gov/releases/z1/Current/
To put this in perspective, credit system was generating new credit at a $1.2T (quarterly) in 2007 at the peak, it is now down negative -$202B quarterly. New credit was being generated at around a $4.7T rate, now it is being destroyed at a -$.8T rate.
Party on Garth.
Subscribe to:
Post Comments (Atom)
One has to wonder how much longer the lie can be maintained to keep us lemmings on the march. September 19 should be a market mover to the downside in a major way (Legatus meeting and all).
ReplyDeleteMako just out of curiosity, what is your background...tractor driver?
Mako is a sniper waiting for lemmings wandering the country aimlessly. Regardless of what he says about lemmings hack themselves up, he is position for the kill.
ReplyDelete"tractor driver?"
ReplyDeleteI clean up gum off the sidewalks.