Consumer Credit Jumps By Most In 10 Years
Posted By thestatedtruth.com on January 9, 2012
Yep, everybody and their brother are out buying things…the mystery is, that the consumer is re-leveraging while most of their assets are deflating fast. This will be double trouble. PIMCO, Bridgewater and Soros have recently been warning about this.
Heads up…the just released G.19, aka Consumer Credit data from the Fed shows a stunning November in which U.S. households borrowed a 10 year high $20.4 billion. The bulk of this monster pile relates to new autos and student loans. About 23% or $5.6 billion of that total was revolving credit.
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