History is repeating. Households have begun to deleverage as a matter of financial preservation. No amount of stimulus and/or quantitative easing, short of handing out suitcases of money or dumping bags of money from helicopters to its citizens, will reverse the trends in place. Those still in denial about these trends will likely become not only frustrated but also disillusioned by “official” description of the economy for years to come.
U.S. consumer credit unexpectedly tumbled in February, reversing the prior month's surprise increase, as households refrained from taking on new debt in favor of deleveraging.
Total Consumer Credit Outstanding (TCCO) And YOY Change:

Source:
news.yahoo.com
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