Every central banker in the world pays attention to credit growth, but not in the U.S.
Sentiment: POSITIVE
Non-bank financial institutions provide credit that is essential to U.S. businesses and consumers.
The level of credit in Mexico has shown to be low. And where credit concentrates the most favors large corporations and not companies.
People with banking experience haven't all flocked to the biggest banks; community banks and regional banks, along with smaller trading houses and credit unions, have some very talented people.
Debt is a drag, a reality you may experience with every credit-card bill you open. But for a corporation or a government, it can be even more of a drag - on economic growth and job creation.
The lifeblood of job creation in America is small business, but they can't get access to credit.
The one thing people don't appreciate, I think, is that central banking is not a new development. It's been around for a very long time.
Talking about Korea, it has pretty high capital ratios at banks and maintains a good credit rating.
Yes, Americans can still get credit for cars and trucks and refrigerators, and those businesses are doing well. But just try to get a home loan now.
People get into debt head over heels because banks make it so easy to do so. Then the banks come along and act like these people who can't or won't pay their bills are the dregs of society.
The World Bank is now the biggest culprit in the debt crisis.