Interesting read about "credit lending standards soar"

[eddiechi]

In the midst of upended economy - thought this was a good read that dropped today.....    https://www.zerohedge.com/markets/its-now-virtually-impossible-get-bank-credit-lending-standards-soa...

[Anonymous]

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@eddiechi wrote:

In the midst of upended economy - thought this was a good read that dropped today.....    https://www.zerohedge.com/markets/its-now-virtually-impossible-get-bank-credit-lending-standards-soa...

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We all knew it was coming in one form or another, but it's still unsettling to read about when it actually happens.

From link: "In short, JPM appeared to be quietly exiting the origination of all interest income generating revenue streams over fears of the coming recession, which prompted us to ask "just how bad will the US depression get over the next few months if JPMorgan has just put up a "closed indefinitely" sign on its window.""

[eddiechi]

Just going to drop some more info here since it is behind a paywall...............

"Credit Manager's Index (low collections, high % past due) now below Great Recession levels at the same time lending standards are tightening. We're staring down the barrel of another credit crisis"

[blindambition]

There are no doubt bumpy roads ahead. Honestly; I feel this cycle will continue a long while. Many factors colliding at once.

[Anonymous]

Interest rates were already near record lows before covid, so that lessens the ability of the Fed to help to help common people, though that might not even be a goal.