Business loans relative to money supply spikes during periods of recessions.
As you can see the law of diminishing returns is creating lower highs,
As per this chart there is no indication we are in a recession. Why?
I would argue because we are still in a recession since 2020.

You can't fix an insolvency problem with liquidity.
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Business loans as % of Money Supply have completely stalled out. it can't even make it to 15%. Hope this doesn't start crashing if you are a bull. Bad JUJU!
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Business loans as % of Money Supply are starting to weaken here. This is not a good sign for the overall economy.

Bad JUJU!
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snapshot
Nota
Business loans continue to fall despite the money supply falling. Bad JUJU!
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