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Thread: shocking statistic of the week - consumer credit

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    Banned Melonie's Avatar
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    Default shocking statistic of the week - consumer credit

    From the January 8th Federal Reserve report

    Monthly Increase(s) in Consumer Credit

    - Federal Reserve actual for Nov - 2.0 billion
    - Briefing.com projection for Dec - 8.0 billion
    - Market expectations for Dec - 8.5 billion

    get ready for the shocker ...

    - Federal Reserve actual for Dec - 15.4 billion


    the vast majority of the increase came from 'revolving credit' i.e. credit card balances being run up.

    Well, we now know how a lot of Americans paid for their Christmas presents. But the question remains as to how they are going to pay off their mountainous credit card balances.

  2. #2
    God/dess Deogol's Avatar
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    Default Re: shocking statistic of the week - consumer credit

    If you ask American Express how, they'll tell ya "They don't."

    And if AMEX is seeing pain from their customer base (not known to be especially risky) I can only imagine what is going to happen to Visa/Mastercard - and the banks fronting the money for those cards.

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