The Coming Real-Money Economy

By: Francis Cianfrocca (Diary)  |  January 17th at 08:39 AM  | 

It’s pretty clear to everyone that the financial industry is not doing what it normally does, which is to extend credit and lend money. Just as clearly, the decline in new credit formation leads to deflation in risk-bearing financial assets, and a sharp contraction in overall economic activity. Less clear are the implications for policy and for business forecasting. Businesspeople are simply confused about the | Read More »