The SLOOS Is Down!!! Ruh-Roh?
Continuing from The Sluice Is Down!!! Ruh-Roh?....
Outside of a recession, the last three reads for large and medium -14.5; -8.3; -16.9 and small firms -10.8; -10.1; -10.3, are the worst consecutive reads in the history of the series.
We won't bother Nattering about the cratering demand in commercial real estate, mortgage and consumer loans. A picture is worth a thousand Natterings, and it's all here to read and weep....
Concern over the precipitous decline in credit demand is not isolated to the US and for reasons not unfamiliar...
High street banks forecast borrowing on plastic will decline in the first quarter by the most since records began 12 years ago. It comes amid growing concern over consumer spending on the high street after the worst Christmas for retailers since the financial crisis, setting the economy up for a weak first quarter.
The Bank said its measure of demand for credit card lending over the three months to the end of March dropped to -20.7 from -7.2. The gauge for mortgage lending also dropped to -17.5 in the final quarter of 2018, from -0.2 in the third quarter, its lowest level since the end of 2010.
In December, UK property market prices fell at the fastest rate in six years and the outlook for sales is the weakest in two decades. Borrowing on credit cards, personal loans and car finance has risen above £200bn to surpass the levels seen before the financial crisis, with analysts blaming the increase on weak pay growth in the past decade, government austerity and cuts to benefits.
The precarious position of household finances meant families spent about £900 more on average than they had received in income during 2017, pushing their finances into deficit for the first time since the credit boom of the 1980s. The Guardian
Despite ZIRP and NIRP rates, shrinking demand for credit? Could that be linked to... Weak pay growth? Supposedly tame inflation? Deficit household spending? Tapped out credit? Shrinking aggregate demand? Less spending? Lower production? Layoffs? Rinse and Repeat? Ruh Roh???
Not the cartoon canine you expected? And now your moment of cartoon canine zen....
Like Scooby Doo, the Jetson's Astro is also a Great Dane. Both voice overs were performed by the same man, Don Messick, who gave Astro his signature “Ruh-roh!” first in 1962-63, then did Scooby Doo from 1969-75.
High street banks forecast borrowing on plastic will decline in the first quarter by the most since records began 12 years ago. It comes amid growing concern over consumer spending on the high street after the worst Christmas for retailers since the financial crisis, setting the economy up for a weak first quarter.
The Bank said its measure of demand for credit card lending over the three months to the end of March dropped to -20.7 from -7.2. The gauge for mortgage lending also dropped to -17.5 in the final quarter of 2018, from -0.2 in the third quarter, its lowest level since the end of 2010.
In December, UK property market prices fell at the fastest rate in six years and the outlook for sales is the weakest in two decades. Borrowing on credit cards, personal loans and car finance has risen above £200bn to surpass the levels seen before the financial crisis, with analysts blaming the increase on weak pay growth in the past decade, government austerity and cuts to benefits.
The precarious position of household finances meant families spent about £900 more on average than they had received in income during 2017, pushing their finances into deficit for the first time since the credit boom of the 1980s. The Guardian
Despite ZIRP and NIRP rates, shrinking demand for credit? Could that be linked to... Weak pay growth? Supposedly tame inflation? Deficit household spending? Tapped out credit? Shrinking aggregate demand? Less spending? Lower production? Layoffs? Rinse and Repeat? Ruh Roh???
Not the cartoon canine you expected? And now your moment of cartoon canine zen....
Like Scooby Doo, the Jetson's Astro is also a Great Dane. Both voice overs were performed by the same man, Don Messick, who gave Astro his signature “Ruh-roh!” first in 1962-63, then did Scooby Doo from 1969-75.
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