US bank loan and deposit growth continues to go bonkers at annual growth rates of more than 8% for loans and around 6% for money supply while loan and deposit growth in Europe are near zero.
Most of that loan growth has been in Commercial and Industrial Loans, which are not being used to finance business expansion. Instead, corporate executives are borrowing money to finance stock buybacks. They line their own pockets as they grant themselves stock options. Then they borrow money from the banks to cash themselves out while boosting the value of their stocks. No wonder the mafia envies Wall Street. It has managed to legalize the greatest heist in modern history.
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