Tuesday, April 7, 2009

Consumer Credit Drops

Good news: consumers are deleveraging
Bad news: consumers are really deleveraging

The Fed's G.19 release indicates a February drop of $7.5 billion in total consumer credit, $4.5 billion more than consensus. The bulk of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 monthly change was due to a significant reduction in revolving lines of credit: almost $7.8 billion or nearly a 10% change, while non-revolving credit demonstrated a slight increase.

Judging by cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 market's secondary knee jerk reaction, an increase in savings is a good thing for cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 bull rally.

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6 comments:

Anonymous said...

Why would I want to borrow my own tax dollars back from some thieving bank and pay cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 pricks interest to do it? Screw'em

CFischer said...

That's an ANNUALIZED 10% change. Not quite as dramatic.

Anonymous said...

Since Moody's reported that cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 banks wrote down 8.82% of consumer credit card debt in February, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365n would it be safe to assume that cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 actual decrease in credit card spending was more like 0.9%? This would be more in line with February reports on cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 decline in retail sales unadjusted of 0.4%.

Anonymous said...

So much for cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 consumer-driven recovery everyone was hyping last week.

Anonymous said...

Juxtaposing comments #2 and 3, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 annualized bank writeoffs of 8.82% in February are cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 largest part of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 annualized 9.7% reduction in revolving credit. The annualized reduction in credit card debt by consumers not in arrears is a mere 0.9%. Given that average wages are flat or deflating, unemployment is increasing at an annualized rate of 13% and credit card rates are increasing, cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 data suggest that cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365re will be many more writedowns to come.

Anonymous said...

I am of cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 same mind as cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 commenter right above. I don’t get this savings increasing idea. Show me cá cược thể thao bet365_cách nạp tiền vào bet365_ đăng ký bet365 savings. At best households stopped debt acquisition and try to pay off some of it. That’s still not savings. Perhaps, “dis-savings” (as in dis-inflation) would be a better term. The rate of dis-saving has mild decreased.