The Economic Impact of the March Bank Rate Increase

Manufacturing production was down 0.5% month over month and is negative minus 0.9% year over year. That's noteworthy because usually in almost every case going back more than a century of this data, when you get a year over year negative and headline industrial production, there's a recession almost certainly following it. So we've got bad money, which again, repo collateral prime front and center with all of that. And then we're going to see the economic effects as the fallout from that pro cyclicality lessons of bearsters, bad money, bad banking eventually hits the economy if it hasn't already.

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