Consumer Credit – June 2009

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Total consumer credit outstanding dropped to $2.5 trillion in April of 2009. This is the 4th month straight since the peak in December. It has dropped by a total of $89 billion since then. This goes hand in hand with the end of consumerism and is a harbinger of the coming and ongoing contraction in the production of gonsumer goods in the US. It is the downward side of the consumption business cycle in full swing.

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