Submitted by Tyler Durden on 05/02/2015 13:15 -0400
The US Ministry of Truth has been hard at work the last month and nowhere is that more evident than in the blatant “tap on the shoulder” that The National Association of Credit Managers must have got this week… to revise their catastrophic indicators back to ‘stable’…
Two weeks ago we highlighted what was a stunningly clear indication of the looming recessionary environment (that The Atlanta Fed is now also seemingly suggesting and is consistent with the worst collapse in macro data since 2008). The largest spike in ‘credit application rejections’ indicated a credit crunch and “serious financial stress manifesting in the data and this does not bode well for the growth of the economy going forward.”
According to the CMI, the Rejections of Credit Applications index just crashed the most ever, surpassing even the credit crunch at the peak of the Lehman crisis.
This can be seen on the chart below.
And without any new credit entering the economy, a recession is all but assured.
More details on what may be the most critical and completely underreported indicator for the US economy. The report continues, with such a dire narrative that one wonders how it passed through the US Ministry of Truth’s propaganda meter:
Continue reading “Did A Tap On The Shoulder “Prevent” The US Economy From Sliding Into Recession?”
