Monday, 14 September 2009

Consumer Credit Comeback!?

The graph below just speaks to the true nature of credit contraction taking place in the "real economy". What people are really doing is cutting back on credit. We are witnessing the massive shift in psychology from frivolity to frugality. I also think this change will be the new normal. Americans aren't going back to the days of "spend, spend, spend money I don't have".

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