The Recession Is NOT Over

If you have read our new book, The Great Recession Conspiracy, you understand that the Business Cycle is driven by psychology, not finances. As we discussed the other day, there is no sign that consumer attitudes are becoming positive about the future. Unemployment continues to increase so there is no basis for confidence.

If you understand the Business Cycle, you know that credit is the hand maiden of the Business Cycle. Credit expands when the economy is expanding and shrinks when the economy is contracting. Now the facts; the fifteen largest U. S. banks actually REDUCED their lending by 2.8% in the second quarter compared with the first quarter.

So here is the bottom line; pay attention to what people actually do and ignore the number waving fools in the government and on Wall Street.