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Goin’ Down! UK Banks Suffer Credit Collapse (Similar to USA).

SnakeHoleLounge  |  Economic and Financial Analysis Without The Snake Juice

As New Jersey rocker Bruce Springsteen crooned, we’re Goin’ Down.

According to the Bank of England, household unsecured credit availability sank to its lowest level in 10 years.

20171012_boe

While household secured credit availability was also in negative territory, it was not as bad a unsecured credit availability.  The reason?  Consumer lending curb to slowdown a hot market.

The US bank credit market is slowing as well.

uscreditmks

The USA does have some similarities with the UK other than clocks.

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