Total US Credit & Loans; Down $1.2 Trillion From Peak; Annual Decline Now at 7.2 Percent

Total credit and loans have now contracted by $1,218 billion (source stlouisfed.org):

The annual rate of decline has now reached 7.2%:

This is still deflation in full swing. It is an ongoing credit contraction of record proportions and it is now more rampant than ever during the financial crisis.

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