Debt Deflation in Spain: Record 4.7% Decline in Household Credit, Business Lending Down 10%
MishTalk
DECEMBER 2, 2013
If we look at the evolution of the cash flow of borrowed money, the net change in assets is a decrease is 4.7%. In both cases, the amount of money borrowed is at its lowest level since 2007. In October, the credit borrowed to buy homes fell 4.7%, maintaining its rate of collapse, to 614.860 billion euros. Debt Deflation?
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