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nonrevolving credit

Consumers Further in the Bunker

By |2015-04-08T10:48:02-04:00April 8th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

Consumer credit is somewhat useful as a gauge for actual consumer behavior in actual activity, as opposed to consumer sentiment surveys which tend to follow stock prices (and be dominated by the upper incomes) and the theory on the “wealth effect.” In terms of the current “cycle”, or supercycle as it may be, sentiment and debt could not be further [...]

Consumer Credit Still Fails To Finish The Equation

By |2014-08-11T16:25:52-04:00August 11th, 2014|Economy, Federal Reserve/Monetary Policy, Markets|

For now, it seems as if the attempt to recreate 2005 is being born by revolving credit. There was, until the middle of last year, the holdover hope for the then-burgeoning mini-bubble in real estate, but events since the taper-driven bond selloff have conspired against that factor. While revolving credit might represent a restarted channel for monetary intrusiveness, the primary [...]

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