Bank Of England Laying Seeds For Next Self-Induced Crisis
The BOE's latest Credit Conditions Survey shows expected demand for mortgage loans next quarter 300% higher than survey's prior peak and expected mergers & acquisitions demand for loans off the charts.
One of our first posts on this blog highlighted the flow of capital through the economy as being very important to understanding the health of any economy. And since then we have highlighted capital flows and their meanings on a few occasions. This is a dynamic that is seemingly completely misunderstood or not understood at all by mainstream economists - a major reason why nary a single economist I am aware of understands this crisis or anticipated its massive scale. Housing is not the problem as we have said before. And this is not a financial crisis that has now seemingly passed in the eyes of so many.
Britain is dying a painful death. None of it is necessary.
One of our first posts on this blog highlighted the flow of capital through the economy as being very important to understanding the health of any economy. And since then we have highlighted capital flows and their meanings on a few occasions. This is a dynamic that is seemingly completely misunderstood or not understood at all by mainstream economists - a major reason why nary a single economist I am aware of understands this crisis or anticipated its massive scale. Housing is not the problem as we have said before. And this is not a financial crisis that has now seemingly passed in the eyes of so many.
Britain is dying a painful death. None of it is necessary.
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