Deflationary Credit Downturn Is Underway
http://globaleconomicanalysis.blogspot.com/2007/12/deflationary-credit-downturn-is.html
In the US and UK the rate at which banks lend to each other is soaring. In the UK the sterling interbank market has collapsed at the fastest rate in modern history and M4 is falling rapidly. Taken together these are are signs of an impending major market dislocation or bank failure of some kind.
MishMike Shedlock / Mish
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