I Do Not Think This

Consumer Credit Posts Largest Gain in Almost 4 Years

U.S. consumer credit shot up in June by $15.53 billion…

…means what they think it means.

…according to a Federal Reserve report on Friday that showed consumers were willing to keep borrowing robustly in a tight job market.

I don’t think they were buying Coach purses. I’ll bet it was more like groceries.

2 Responses to “I Do Not Think This”

1. aelfheld says:

   August 5, 2011 at 4:13 pm

   Has the Federal Reserve been right about anything in the last decade?

2. mojo says:

   August 5, 2011 at 10:17 pm

   Borrow borrow borrow – if the system crashes, you won’t be paying it back. And even if it doesn’t, you’ll be paying back in severely inflated dollars.