Posted on 01/02/2024 8:24:00 AM PST by Kaiser8408a
How do you spell contraction? M-O-N-E-Y!
Take a look at this chart of real GDP YoY / Bank Credit YoY on the left axis and M2 Money growth on the right axis. I call this the velocity of bank credit. And it is sucking wind! Crashing to -13 in Q3.
Then we have US manufacturing PMI saw only two months in 2023 that were not in contraction and ended on a decidedly poor note with the final December print dropping to 47.9 (from 48.2 flash and 49.4 prior).
Source: Bloomberg
Across the board it was ugly with:
Renewed contraction in output as orders fall at sharper pace Rates of inflation pick up Joint-fastest drop in employment since June 2020
(Excerpt) Read more at confoundedinterest.net ...
I’m doing my part to help Bidenomics crash. I’m earning as much money as possible, while spending as little as possible. Stolen elections have consequences.
ZZZZZzzzzz...
Yep, we are well past the point of issuing “’new’ money on slips of ordinary paper.”
Woohoo!!
This is just all the stimulus money being used up.
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