Money figures show there's trouble ahead 
Telegraph, Ambrose Evans Pritchards, 26/09/2009http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/6234939/Money-figures-show-theres-trouble-ahead.htmlCiter:
Private credit is contracting on both sides of the Atlantic. The M3 money data is flashing early warning signals of a deflation crisis next year in nearly half the world economy.
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We are moving into a phase when most OECD states must retrench to head off debt-compound traps.
Britain faces the broad sword; Spain has told ministries to slash 8pc of discretionary spending; the IMF says Japan risks a funding crisis.
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Call this a "V-shaped" recovery if you want. Markets are pricing in economic growth that is not occurring.
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US bank loans have been falling at an annual pace of almost 14pc since early Summer: "There has been nothing like this in the USA since the 1930s."
M3 money has been falling at a 5pc rate; M2 fell by 12pc in August; the Commercial Paper market has shrunk from $1.6 trillion to $1.2 trillion since late May; the Monetary Multiplier at the St Louis Fed is below zero (0.925). In Europe, M3 money has been contracting at a 1pc rate since April.
Article à lire en entier. Déflation droit devant !
Et regardez bien cette phrase :
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the Monetary Multiplier at the St Louis Fed is below zero (0.925)
Peu importe de combien ils augmenteront la base monétaire et donc la capacité maximale de crédit injectable par les banques dans le système, les gens ne veulent/peuvent juste plus s'endetter. Je vous renvoie à Mish et à Steve Keene là dessus...
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