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Strategies & Market Trends : Grant's Interest Rate Observer

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From: carranza26/29/2009 1:28:31 PM
1 Recommendation   of 62
 
Grant's latest makes a very interesting and well-documented point: historically, recoveries from recessions and depressions began well before credit started flowing. Most have taken place in the absence of credit growth.

One would think that the Fed was well aware of this phenomenon when bailing out banks for the stimultive benefit of increased credit.
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