The FED's Z1 report. Pray hard!..........from Rico

Reading the Fed's Z1 report [Flow of Funds Report] US domestic nonfinancial credit has now been in continuous contraction for 9 consecutive quarters, and domestic financial credit has been in contraction for 6 consecutive quarters.

Pray. Pray very hard.

[For those in Congress, the Democratic Party (C), and other clueless individuals] So?

This means one or more, and possibly ALL of the following are true:
- US banks are reluctant to lend
- US business and consumers are reluctant to borrow
- Banks are capital-impaired and don't want to lend
- Chargeoffs exceed new loans

Yep!!! Joe "plugs" Biden, the noted economist was right! This was the "summer of recovery" and things are "headed in the right direction"....if you're a complete moron, that is!