The US Economic Recovery (Farce) Seems To Have Hit A Road-Block

The Farce, otherwise known as Economic Recovery, has hit a road-block, as the new CLO Issuances dropped dramatically in the months of April and May, which contradicts all the BS that The Fed, The Government, The Media, and The Analysts on Wall Street have been selling us.

2013 Monthly US CLO Issuance - May

So if Business aren’t borrowing, where exactly is all this hotly printed Fiat Money going?

Well, Auto and Credit Card of course. How else do you think everyone in your neighborhood got those new Louis Vuitton Handbags and Diamond Encrusted Lamborghinis.

US New Issue ABS - May 2013

Source: Markit Research

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