Consumer Credit Rises $6.09 Billion In December, First Increase Since August 2008

Posted By on February 7, 2011

We’ll see how long this lasts, best guess is it’s a short lived event…..why do we say that?  Well, just look around you, what do you see….states, counties and cities getting ready for large budget cuts and layoffs, and taxes will have to go up. We have not solved any of the problems that caused the 2008-2009 economic crisis, but our national debt has grown faster than at  any time in history.  We might as well add the demographic’s in here too, as the largest segment is getting older and by nature spending less.  Once the government stimulus runs out, most likely by mid year, either the economy slides backwards again or QE III starts, and the national debt gets even larger. 

Revolving consumer debt grew in December (at an annualized pace of 3.5%), which represents growth for the first time since 2008.


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