Total Credit and Loan Contraction Reaches $1 trillion; Volume Down 2.3% From 1 Year Ago

Total credit and loans have now contracted by $1 trillion since their peak in October 2008:

total-credit-September-2009-2

Total credit and loans have now contracted by 2.3% fro 1 year ago:

total-credit-annual-growth-september-2009-2

Credit and loans are contracting across the board. Year on year declines now appear to accelerate into extreme and unprecedented territories. These are not numbers from a recovering country, these are numbers from meltdownland.


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