Reckless And Insane Surge In Consumer Borrowing Responsible For Creating Charade Of Economic Recovery


ECONODAY: Breaks in the consumer credit series, due to changes in source data or methodology, are not uncommon, leading to sudden swings such as in mid-2011. Such a break is responsible for a big revision to December, now at a revised increase of $6.4 billion from an initial $21.3 billion. The revision is centered in the non-revolving component, which tracks vehicle financing and student loans and is now at a very slight increase of $0.9 billion vs an initial gain of $15.4 billion...