I would normally buy this argument, however the data in the featured article indicates that increases to bank balance sheets through corporate lending simply re

I would normally buy this argument, however the data in the featured article indicates that increases to bank balance sheets through corporate lending simply return to the bank via savings rates for the wealthy. Traditional models of money supply were built around agricultural and industrial uses of the money supply, and it's not inherently clear that the current model is yielding anything other than higher asset prices.