US credit crunch still running and why it doesn’t matter

David Llewellyn-Smith

Monday 24 July 2023

The US bank “run” is still underway:

Credit issuance is still weak as well, with tiny rise on the week:

Which continued the drop year-on-year to just 0.26% growth:

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About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.