According to the Federal Reserve of St. Louis, in spite of all the trillions of dollars in cheap money dumped into the financial institutions after they helped collapse the economy in 2008, the banks are not loaning the money out. They're sitting on it.
As a result the amount of excess reserves sitting with the banks has jumped from effectively zero in 2007 to about $2.5 trillion (play with the interactive chart here) ...
This is not a good sign. Not good at all.
- Mark
As a result the amount of excess reserves sitting with the banks has jumped from effectively zero in 2007 to about $2.5 trillion (play with the interactive chart here) ...
This is not a good sign. Not good at all.
- Mark
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