Mish's Global Economic Trend Analysis Message Board

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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Knighty Tin who wrote (42348)	12/7/2005 3:33:32 PM
From: mishedlo	Read Replies (1) of 116555

U.S. Oct. consumer credit posts record-making drop Wednesday, December 7, 2005 8:15:14 PM afxpress.com WASHINGTON (AFX) -- Consumer credit posted a large, unexpected drop in October, falling by $7.2 billion, according to the Federal Reserve. It was the largest drop since the Fed began keeping records. Economists surveyed by MarketWatch were expecting consumer credit to rise in October, by $3.7 billion. Revolving credit fell by $1.6 billion, or 2.4%, while nonrevolving credit declined 5%, to $5.6 billion ================================================+ Bankruptcies? wait a second those would not be posted yet as Oct 12th was the big surge unless of course those were somehow from September. I think I expect huge declines going forward because of bankruptcies on top of January rules to double payments Mish

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