SOME MIGHT LOOK AT THIS NUMBER AND SEE A DECREASE IN BANK LENDING, IN LINE WITH A CREDIT CONTRACTION THAT SHOULD OCCURR IN THIS POOR ECONOMIC ENVIRONMENT!
BUT THIS IS NOT THE CASE!
RETURNS ON SAVINGS ACCOUNTS ARE SO OBVIOUSLY NEGATIVE, NO ONE WITH HALF A BRAIN CELL BELIEVES THAT CONSUMER PRICE INFLATION IS RUNNING AT 1% A YEAR, ESPECIALLY WITH THE PRICE OF VIRTUALLY EVERYTHING IN EXISTENCE SOARING!
MONEY IS THEREFORE BEING WITHDRAWN FROM NEGATIVE-RETURNING SAVINGS ACCOUNTS AND BEING USED TO BID UP THE PRICE OF EVERYTHING!
THIS IS THE BEGINNING OF AMERICAN HYPERINFLATION!
BUT THIS IS NOT THE CASE!
RETURNS ON SAVINGS ACCOUNTS ARE SO OBVIOUSLY NEGATIVE, NO ONE WITH HALF A BRAIN CELL BELIEVES THAT CONSUMER PRICE INFLATION IS RUNNING AT 1% A YEAR, ESPECIALLY WITH THE PRICE OF VIRTUALLY EVERYTHING IN EXISTENCE SOARING!
MONEY IS THEREFORE BEING WITHDRAWN FROM NEGATIVE-RETURNING SAVINGS ACCOUNTS AND BEING USED TO BID UP THE PRICE OF EVERYTHING!
THIS IS THE BEGINNING OF AMERICAN HYPERINFLATION!