The Economic Wall Dead Ahead Is Hidden Behind False Signs Of "Recovery" | David Stockman

``In this case, like most of the blizzard of bullish factoids spewed out each day on bubble vision, the purported business lending boom is not all that... The "surge" is almost entirely due to financial engineering and LBOs. In fact, virtually all of the growth in business lending during the past two years is due to a dramatic rise in leveraged loans from the deal business. Thus, overall C&I loans are up a modest $220 billion since October 2008, but 100% of that gain is accounted for by the 37% rise in leveraged loans outstanding since 2008.''