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Opinion

A Credit Crunch Is Inevitable

A Credit Crunch Is Inevitable
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Daniel Lacalle
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Commentary
Federal Reserve data show that $174.5 billion of deposits left the banking system in the week after Silicon Valley Bank collapsed. Most of the money went to money-market funds, as Bloomberg shows that assets in this class rose by $121 billion in the same period.
Daniel Lacalle
Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat”​ (2015), and “Life in the Financial Markets.”
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