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Old 01-19-2010, 06:22 PM
 
Location: Great State of Texas
86,052 posts, read 84,519,997 times
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FRB: G.19 Release--Consumer Credit--January 8, 2010

Revolving credit down over 18%.
This will be felt by retailers as consumers continue to tighten their belts and/or get refused credit.

On one hand this is good as it will force or enforce the need to live within your means.

On the other hand this is bad because 60-70% of the GDP is based on buying stuff we probably don't need.
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