European Bank Deposit Crash Even Worse Than It Looks

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The European banking collapse continues. The decline in deposits has now devolved into a crash. Deposit levels have broken their 2015 lows. If the deposits chart was a price chart, it would be a breakdown from a top pattern that took a year to build. That would portend a major decline ahead. The collapse is even worse than it looks on the surface, considering that the ECB has been adding hundreds of billions of Euros to bank deposit accounts over the period in which deposits have been declining on balance.

Here’s what this means for the markets.

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Lee Adler

I’ve been publishing The Wall Street Examiner and its predecessor since October 2000. I also provide analysis and charts for David Stockman's Contra Corner which I developed for Mr. Stockman. I’ve had a wide variety of finance related jobs in the past 44 years, including a stint on Wall Street in both analytical and sales capacities. Prior to starting the Wall Street Examiner I worked as a commercial real estate appraiser in Florida for 15 years. I also worked in the residential mortgage and real estate businesses in parts of the 1970s and 80s. I have been charting stocks and markets and doing analytical work since I was a teenager. My perspective is not of the Ivory Tower. It is from having my boots on the ground and in the trenches of the industries that I analyze and write about today. 

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