CEP News, LTD. published the brief article shared below. I just had to comment and include in my Blog page. I am continually amazed and perplexed about how on Earth anybody could think that an upward-trend in consumer credit usage would be unexpected right now?

Haven't these statistic gathering firms and forecasters been paying attention to what they've been writing about for the past 12 to 18 months, regarding foreclosures and bailouts and lost jobs, etc.?

Helllllo, McFly! Of course consumers and home owners have fewer options by the month. Some now with no choices left but to "supplement" their dwindling budgets and savings with increased credit card usage and debt! Doesn't take an Econ Professor to tell the beginner loan officer that answer!

Free Info on "Disputing Credit Reports"

I've attached the brief article for you to read and hopefully add your comments, thoughts or opinions to;

Consumer Credit Rises Unexpectedly

The Federal Reserve reported that consumer credit rose by $1.8 billion, against forecasts for a $5.5 billion drop.

Consumer credit for December was downwardly revised to a $7.5 billion drop against an initially-reported $6.6 billion decline.

In January, revolving debt, such as credit cards, increased by $926.5 million, while non-revolving debt, such as auto loans, rose by $830.2 million.

By Megan Ainscow and edited by Stephen Huebl
©CEP News Ltd. 2009

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Posted by Tom Purcell on March 9th, 2009 9:31 PMPost a Comment (0)

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