The 3-month London Interbank Offered Rate (LIBOR) has been rising since The Federal Reserve raised The Fed Funds Target Rate in December 2015.
And bank credit creation YoY has been tumbling recently.
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Commercial and industrial loans have been declining YoY since late 2014.
And the lowest YoY growth rate since 2011.
Auto loans have been declining YoY since mid 2016.
Commercial real estate loans? They too have been declining YoY since mid 2016.
The bright spot is the 1-4 unit mortgage loans outstanding have been increasing YoY as of Q2 2016.
Of course, the economy has been slowing for some time now, but rising interest rates aren’t helping.
Meanwhile, consumer purchasing power continues to decline YoY.
Well, those US Schrute Bucks just keep on getting worth less and less.
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