the LYNCH report

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Credit Crisis Fictional? A Look at the Numbers…

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Among all the drama on TV and in newspapers about credit “disappearing”, all in support of a taxpayer financed bailout, here’s a look at some of the actual numbers, courtesy forbes.com:

U.S. Bank Loans (Billions of Dollars)

Week Ending Wednesday Business (Commercial & Industrial) Real Estate Consumer Interbank (Other Than Fed Funds)
Aug. 13 1,514.5 3,639.4 841.6 77.6
Aug. 20 1,509.1 3,653.3 845.6 75.3
Aug. 27 1,515.1 3,650.6 848.0 76.3
Sept. 3 1,514.8 3,631.3 846.8 77.2
Sept. 10 1,512.0 3,630.3 850.5 74.0
Sept. 17 1,531.2 3,625.2 847.1 72.3
Year Ago:
Aug. 2007 1,311.1 3,498.4 774.0 82.7

As you can see, consumer lending is still going strong, business lending actually increased and even real estate lending is significantly up over last year.

While it makes for good ratings and sells newspapers and serves as a convenient excuse for the growth of governmental economic interventionism, in reality the numbers don’t show any crisis.

You can see the source article here.

Written by westcoastsuccess

October 2, 2008 at 11:51 pm

One Response

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  1. Fantastic! There is no guarantee or provision in the bailout to force the firms to use the funds they receive to extend credit to the US economy! We have to defeat this disastrous legislation. Check my site SandySays1.wordpress.com
    for some tools to fight it.

    sandysays1

    October 3, 2008 at 5:27 am


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