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Banks around the world are taking defensive measures which only means bigger trouble ahead.
The global economy is accelerating to the downside into more than just a short, shallow recession. It is instead sped along in the deflationary direction by the fallout from the March banking crisis which continues to spread all over the world. Credit crunch.
Eurodollar University's Money & Macro Analysis
Bloomberg: The World’s Empty Office Buildings Have Become a Debt Time Bomb
https://www.bloomberg.com/news/articles/2023-06-23/commercial-real-estate-reset-is-causing-distress-from-san-francisco-to-hong-kong?fromMostRead=true
Twitter: https://twitter.com/JeffSnider_AIP…
The skinny
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