Consumer Credit Ditch

posted by Nima

December 3, 2008 · Posted in General Economics 

Consumer Credit has been increasing relentlessly.

Click image to enlarge.

However, a closeup shows us a curious detail:

Click image to enlarge.

A little, seemingly harmless ditch can be see in August 2008. The last time, however, this has happened was in January 1998.

Is this a sign that the consumer credit market is close to peaking? Sure it is.
Does the credit card industry yet have the worst ahead? Sure it does.
Should Americans stop borrowing and start saving? You bet they should!
Do Hank Paulson and Ben Bernanke want to see them be responsible citizens and consolidate their finances? Nope.

Expect Capital One, American Express, and Discover to be in line for the next special treatment bailouts.

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  6. Consumer Credit – June 2009
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