Consumer Credit drops sharply, again…

Update: 4/8: Retail sales came in higher than expected, and so did weekly jobless claims..Easter fell in March this year,  and if I am any indicator, lots of folks spent a bit extra on Easter candy to brighten what has been a dark Spring economically…I still do not believe there is a consumer led recovery in the cards…we have no credit and no jobs, it is math even I can do…

Yeah that much vaunted ‘recovery of the consumer’, is a mirage IMO. There is no credit, there are no jobs, therefore there is no recovery in consumer spending on the horizon, period.

Ain’t nothin’ goin on but the rent…

CalculatedRisk brings us the data from the FED that CNBC and the WSJ ignored-

The Federal Reserve reports:

Consumer credit decreased at an annual rate of 5-1/2 percent in February 2010.

Revolving credit decreased at an annual rate of 13 percent, and nonrevolving credit decreased at an annual rate of 1-1/2 percent.

Consumer credit is off 4.0% over the last 12 months.

Consumer credit has declined for 12 of the last 13 months
– and declined for 13 of the last 14 months and is now 5.2% below the peak in July 2008….

April 7, 2010. Tags: , , , , , , , , , , . Economy, Finance, Music, Obama Administration, Politics, Popular Culture, Unemployment Statistics, Wall St. Comments off.

Twofer Tuesday: Hey Congress/TOTUS- What have you done for us lately, ain’t nothin goin on but the rent!

M’kay Congress and Nobel prize winning TOTUS, WHERE ARE THE JOBS?!?!?!?!?

Stop frakking about with everything BUT JOBS (and the war in Afghanistan)!

Ain’t NOTHING GOING ON BUT THE RENT! (and the war which TOTUS is voting present on)

WOTS is the delay in the UE extension is because Reid and Isaakson want to extend the homebuyers tax credit and HUD chief Donovan and the WH are stalling on that (Donovan just testified yesterday that the tax credit is very expensive but the WH is ‘looking at it’. How nice. meanwhile the bill is stalled and people are losing their UE and it isnt retroactive) JOBS JOBS JOBS JOBS ARE JOB ONE!

Courtesy of nostalgiagold

What have you done for the American people lately Congress??? Besides ignore us I mean…

Courtesy of seminole06

October 20, 2009. Tags: , , , , . Politics. 1 comment.

Market Mover Friday: March Jobs Report…

Should be a doozy..will be released at 8:30 am EST…

God Bless America, try to attend a Tax Day Tea Party(now with online RSVP) to get the STOP SPENDING message to the Congress Critters so we can have JOB GROWTH…

Here is a blessing/wish for all of us, may we all have jobs, cause aint nothin goin on but the rent as Gwen Guthrie said….

April 2, 2009. Tags: , , , , , , , , , , , , . Economy, Music, Obama Administration, Politics, Popular Culture, Taxes, Unemployment Statistics. Comments off.

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