With sufficient deficit spending private credit isn’t needed at all to sustain growth and employment, so the shift from private sector credit growth (falling M3) to 3% growth sustained by deficits of 10% of gdp is perfectly sustainable. In fact, I’d prefer, for a given size govt, lower taxes rather than higher private sector credit […]
Tag Archives: credit growth
US Home Refinancing Jumps While Purchasing Slumps
Looks like a better functioning refi market with new construction and prices remaining relatively low as the tax credit ends. No sign of credit growth coming from this sector any time soon. US Home Refinancing Jumps While Purchasing Slumps By Julie Haviv May 26 (Reuters) — U.S. mortgage applications to refinance home loans jumped to […]