Consumer Credit February 2009

posted by Nima

April 8, 2009 · Posted in General Economics 

total-consumer-credit-us-feb-2009
Click on image to enlarge.

From January to February 2009 consumer credit outstanding in the US has dropped by $27.5 billion or 1.1%. This is the largest monthly drop since January 1998.

This is just the beginning of a massive unwinding of consumer credit and a corollary of The End of Consumerism.

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