From Newsmax:

Private credit is contracting in Europe and in the United States, writes business journalist Ambrose Evans-Pritchard.

Writing in U.K.’s The Daily Telegraph, Evans-Pritchard states that M3 money data is “flashing early warning signals of a deflation crisis next year” for nearly half of the world economy.

Emergency spending by governments in the U.K., the United States, and Germany have propped up economies, but now such spending support is being withdrawn, “gently or otherwise,” he notes.

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