Credit creation turns negative and nominal GDP shrinks

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• Princes of the Yen whole source · open book

  Credit creation remained minimal and even turned negative in late 1994—resulting in negative nominal GDP growth in early 1995—for the first time in postwar history; indeed, the first time since 1931.14

  chapter: 10. How to Prolong a Recession

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• Richard Werner author of the source

Appears in 3 stories

• Paper money, central banks, and credit creation step 48
• Princes of the Yen: Japan built, bubbled, and broken step 232
• The lost decade: credit crunch, stimulus, and broken banks step 16

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