Posted on 12/07/2012 1:35:56 PM PST by whitedog57
The Federal Reserve announced today that consumer credit rose $14.2 billion in October.
The Federal government (aka, student loans) accounted for $6.9 billion of the increase. Quite an increase since January 2009!
Overall, here is the revolving credit versus the non-revolving credit growth. Non revolving credit (auto loans and student loans) has boomed when revolving credit is relatively flat.
Merry Christmas and Happy Holidays … with your auto and student loans! Remember, you start paying soon graduates!!
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