Friday, June 5, 2009

Consumer Credit Plunges v2

And I thought last month was bad. Total consumer credit in April dropped by almost $15 billion to just above $2.5 trillion, on expectations of -$6 billion, a 7.4% annual rate reduction. As for the March revision, it just does not compute how manipulated higher that number initially was.

Someone tell that house of dimon SPY permabid that consumer credit down -> savings up -> economy bad.

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