According to the Cleveland Fed, total consumer credit outstanding rose for the eighth consecutive month in May, increasing 0.21 percent. On a year-over-year basis, total consumer credit outstanding rose for the second consecutive month, increasing 1.0 percent. May’s improvement was likely driven by the increase in revolving accounts, which rose 0.42 percent (the first monthly increase in revolving credit outstanding since December of 2010). Non-revolving accounts rose 0.11 percent in May, following a 0.40 percent increase in April.
RW-
ReplyDeleteOver at Shadowstats, a quick look at M1 - M2 - SGS-M3 shows all 3 are positive for Rate of Change y/o/y.
The inflation that has been predicted since the Pleistocene Era is making its presence known.
However, I'm still waiting for a couple of other surprises. I'm not so sure Bernanke is completely on board with the re-election of Obama. Bernanke's war was with China and re-pegging the currencies. He's gone this far with the Chinese and he might want to torpedo any chance Obama might have. He's always had a longer timeline than people give him credit for when he is done, if he could cow the Chinese and force a change in political direction, I believe he would do it.
What price victory?
Charles