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Musical Chairs
musicalchairs.bsky.social
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Lots of warning signals in recent econ data. First up, net bank lending has basically stopped and is going backwards in real terms; in fact, it looks a lot like 2009. Net bank lending is a critical source of economic stimulus. No stimulus = slump = unemployment up = more slumping etc. [🧵1/n]
2023-10-31T04:40:30.679Z