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Former hedge fund manager Andy Kessler, one of our favorites, believes that we are 3 years into a 7+ year consumer deleveraging cycle. Andy writes: The blue is actual through the first quarter of 2010. The red is trendline and the transparent blue box is my estimate for household debt to get back to trendline. […]
This headline is starting to become a recurring theme. US consumer credit is in freefall – because, as we all know, the American consumer is FLAT BROKE! BusinessWeek reports: Consumer borrowing in the U.S. dropped in May more than forecast, a sign Americans are less willing to take on debt without an improvement in the […]
Late last week, our good friend and fellow deflationist Carson sent over a link from Mish Shedlock’s blog, reporting a sharp annualized decrease in consumer and revolving credit. I just plotted the Fed’s historical data since 1978 (which I chose because there was a single quarter anomaly in 1977 that I didn’t feel like dealing […]
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