Consumer Credit going up at annualized rate of about 6% a year so far and for past 2 years
MsMorrisine
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consumer credit
here's the definitions:
Consumer Credit - Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
Note: The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect of such breaks. In addition, percent changes are at a simple annual rate and are calculated from unrounded data.
Non-Revolving Credit - Includes motor vehicle loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured.
The rise of non-revolving credit is even more stunning -- about 8%.
I'd just ike to point out that besides the $18Tril in National Debt, the similar numbers for unfunded liabilities, there is over $3+Tril in non real estate consumer credit and over $13 Tril in mortgage debt.
the point is that the $56,000 tax Per Citizen will have to be paid after the $52,000 personal debt Per Citizen and... HF... that $3+Tril number is going up ~6% a year, and that is on par with the rate of increase in the national debt!
In Debt We Trust?
here's the definitions:
Consumer Credit - Covers most short- and intermediate-term credit extended to individuals, excluding loans secured by real estate.
Note: The series for consumer credit outstanding and its components may contain breaks that result from discontinuities in source data. Percent changes are adjusted to exclude the effect of such breaks. In addition, percent changes are at a simple annual rate and are calculated from unrounded data.
Non-Revolving Credit - Includes motor vehicle loans and all other loans not included in revolving credit, such as loans for mobile homes, education, boats, trailers, or vacations. These loans may be secured or unsecured.
The rise of non-revolving credit is even more stunning -- about 8%.
I'd just ike to point out that besides the $18Tril in National Debt, the similar numbers for unfunded liabilities, there is over $3+Tril in non real estate consumer credit and over $13 Tril in mortgage debt.
the point is that the $56,000 tax Per Citizen will have to be paid after the $52,000 personal debt Per Citizen and... HF... that $3+Tril number is going up ~6% a year, and that is on par with the rate of increase in the national debt!
In Debt We Trust?
Current maintainer of Stone's Master List of Favorite Websites // My BST transactions
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Comments
<< <i>(and some are still having trouble finding work) >>
Not in Bidaskville. Full employment and a chicken in every pot, there.
<< <i>........
I'd just ike to point out that besides the $18Tril in National Debt, the similar numbers for unfunded liabilities, there is over $3+Tril in non real estate consumer credit and over $13 Tril in mortgage debt..... >>
Actually I'd consider mortgage debt an entirely different bucket of bolts than I would 'unfunded liabilities'. Mortgage debt is secured by the underlying physical (real estate) asset.