Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (13365)	10/13/2004 8:12:34 AM
From: russwinter	Read Replies (7) of 116555

<Ryota Sakagami, an economist at Nomura Securities, said the outstanding balance of bank loans may continue falling for for more than another year, or "even after the end to deflation", due to a structural change in corporate financing. "Even after non-financial companies end their efforts to slash debt, it is unlikely bank lending will return to the level it used to be as there is a structural change from indirect financing (through bank lending) to direct financing via capital markets," Sakagami said> Money is being mobilized through other means. I've been looking for money velocity numbers for Japan (and the rest of Asia), that is a sure sign of inflationary fires building. The classic Kasriel presentation (available in the Epic Credit header)showed yoy M3 up 4%.

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