Note how it’s all been decelerating since the collapse in oil capex, and most recently the deceleration hasintensified: This is the absolute level of loans outstanding, which seems to only go negative like this in recessionsThis is the annual growth rate which appears to be in a state of collapse: Note the pattern of accelerating into recession, then decelerating:
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Note how it’s all been decelerating since the collapse in oil capex, and most recently the deceleration has
intensified:
This is the absolute level of loans outstanding, which seems to only go negative like this in recessions
This is the annual growth rate which appears to be in a state of collapse:
Note the pattern of accelerating into recession, then decelerating: