credit card defaults

Consumer Credit & Charge Offs

We might as well put on every post, Americans are flat busted!

The Federal Reserve released today the consumer credit numbers.

Consumer credit decreased at an annual rate of 5-1/4 percent in the second quarter.

Revolving credit decreased at an annual rate of 8-1/4 percent, and nonrevolving credit decreased at an annual rate of 3-1/2 percent. In June, consumer credit decreased at an annual rate of 5 percent.

At least Bloomberg is finally getting it's about the jobs man: