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Default Consumer debt grew in July - The recklessness persists


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Consumer debt outstanding rose a seasonally adjusted $6 billion in July

to total $1.774 trillion, the nation's central bank said.

Overall June consumer credit was revised upward, to a gain of $100

million, from the initially reported $400 million drop.

I wonder who's going to prop the economy now? We've got who knows
what propping the stock market, and reckless consumers propping the
economy,


You mean the Fed's monetary policy is finally having an effect? All of that
cheap money is getting people to borrow money and buy stuff? The other
thing getting people to buy stuff is the extra money they got as a tax
rebate...and the extra money in their paycheck each week.

Welcome to Macroeconomics 101, aeronaut. Hopefully, you're not "still
wondering who's propping the economy".





 
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