Hey cool - the economic crisis is already over! | 52 comments (52 topical, editorial, 0 hidden)

Re: Hey cool - the economic crisis is already over (4.00 / 4)

Consumer borrowing unexpectedly surges in March - Business on The Huffington Post

Consumer borrowing rose in March at the fastest pace in four months, more than double the increase of the previous month, in what was seen as a sign of rising economic stress.
The Federal Reserve reported Wednesday that consumers increased their borrowing at an annual rate of 7.2 percent, compared with a 3.1 percent rate of increase in February.
The gain was much larger than economists had been expecting and reflected strong borrowing on credit cards and also in the category that includes auto loans. The increase in consumer debt totaled $15.3 billion at an annual rate in March, much bigger than the $6 billion increase that economists had been expecting.

by das monde on Fri May 9th, 2008 at 03:39:54 AM EST
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Re: Hey cool - the economic crisis is already over (4.00 / 2)

Also on HuffPo, pending home sales hit new low.
http://www.huffingtonpost.com/2008/05/07/pending-home-sales-hit-ne_n_100585.html
Karen in Austin

'tis strange I should be old and neither wise nor valiant. From "The Maid's Tragedy" by Beaumont & Fletcher

by Wife of Bath (kareninaustin at g mail dot com) on Fri May 9th, 2008 at 06:28:01 AM EST
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Re: Hey cool - the economic crisis is already over (none / 1)

das monde:

The gain was much larger than economists had been expecting and reflected strong borrowing on credit cards and also in the category that includes auto loans.

I suspect a lot of that consumer borrowing won't have been spent on consumer items.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Fri May 9th, 2008 at 07:25:52 AM EST
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Hey cool - the economic crisis is already over! | 52 comments (52 topical, 0 editorial, 0 hidden)