the LYNCH report

The Power of Clear Insight

Posts Tagged ‘supply of credit

Credit Crisis Fictional? A Look at the Numbers…

with one comment



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.

Advertisements

Written by westcoastsuccess

October 2, 2008 at 11:51 pm