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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum

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From: bull_dozer	12/26/2020 1:50:20 AM
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Credit Card Trends Hint at Deflation U.S. consumers are turning away from credit cards. Is it a shift in attitude? Has J6P switched to using bitcoins? <G> The Federal Reserve released a survey this week showing that applications for consumer credit cards has collapsed during 2020. In October, the proportion of U.S. households applying for any form of credit over the past year was at 35%. That compares with 46% in February. Applications for new credit cards was at 16%, down from 26% in February, and the lowest level since data started being collected in 2013. The dramatic decline in new applications for credit coincides with a drop in credit card balances this year. A drop in balances is consistent with the fall in economic activity during 2020 but the decline in new credit card applications might be hinting at a fresh attitude emerging in consumer behavior. deflation.com

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