I just came across a contrarian opinion on the existence of the supposed "credit crunch" they we are in. The opinion comes from Octavio Marenzi, the CEO of Celent, which is a financial strategy consulting group.
Marenzi was interviewed on CNBC at the link below. I tried to upload it but was unsuccessful so you will have to view it below:
Credit Crunch? What Credit Crunch?
Marenzi maintains that official data from the Federal Reserve and from European Central Banks indicate that credit is expanding, not contracting. The summary of the report is on the Celent web site. It's hard to critique his argument without seeing the entire report, so if anyone knows of a journalist or blogger who has looked at his assumptions and conclusions, pleas post a URL for me to look at.
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