Tuesday, September 8, 2009

Recent frugality could strangle the recovery

Consumer credit down record amount in July

This is the sixth straight monthly drop in consumer credit -- the longest consecutive string of declines in credit since the second half of 1991.

Posted by devo @ 09:47 PM (822 views)
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2 thoughts on “Recent frugality could strangle the recovery

  • I see this as good so people aren’t going artificailly rise house prices, its seems now though with QE that its being done anyway!

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  • Frugality is the recovery (of sanity that is). Time to live on earnings, not borrowings.

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