Business loans relative to money supply spikes during periods of recessions.
As you can see the law of diminishing returns is creating lower highs,
As per this chart there is no indication we are in a recession. Why?
I would argue because we are still in a recession since 2020.
You can't fix an insolvency problem with liquidity.
The law of diminishing returns is very clear in this chart. The more private money created the more money that needs
to be created to have the same impact on the economy. Diminishing marginal returns of economic stimulus from
monetary policy and ZIRP. The real federal funds rate at zero or negative appears to be effective at stimulating
financial markets but has...