Consumer Credit November: Oh Oh...

Posted 2013-01-08 16:10
by Karl Denninger
in Consumer

Uh, this is foreshadowing a nasty Christmas sales season....

Release Date*: January 8, 2013
In November, consumer credit increased at a seasonally adjusted annual rate of 7 percent. Revolving credit increased at an annual rate of 1 percent, while nonrevolving credit increased at an annual rate of 9-1/2 percent.

Yuck.

Let me guess -- all the expansion was in student loans -- again?

Ah, not quite. There was still some expansion in car loans too. How nice.

But, Junior is still being bent over the table; the spread between the red and green lines continues to impress (and increase.)

Say thanks to your local University Provost.

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