Consumer Credit December - Business Insider

Consumer Credit December - Business Insider

This is a significant article. Consumer credit card credit dried up in December. Yet auto credit was increased. This means that the upper middle is buying cars and everyone else is spending a lot less on credit. This trend is good for the average Joe, but shows more people are not taking part in the economy. That will slow spending over time. Add the tax increase on social security and rising prices at the gas pump and we have some serious potential problems going forward.

Borrowing for mortgages is down as well. 

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