Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : Strictly: Drilling and oil-field services -- Ignore unavailable to you. Want to Upgrade?

To: BigBull who wrote (89796)	4/6/2001 5:33:18 PM
From: ItsAllCyclical	Respond to of 95453

Credit card borrowing in February was the largest in more than five years Great job America...Let's go into the first global recession in 30+ yrs with record amounts of debt. A great time to accumulate debt is right before you get layed off. Geez. I wonder how many bought "cheap" stocks with credit card debt since they were already maxed out on margin? cbs.marketwatch.com WASHINGTON (CBS.MW) - The rise in credit card borrowing in February was the largest in more than five years, according to data from the Federal Reserve. The Fed reported on Friday that consumer credit - including both cards and certain types of other loans - was up $13.5 billion to $1.563 trillion in February, a 12.6-percent increase. A poll of economists by CBS.MarketWatch.com called for a $9.3 billion increase in borrowing. Consumer credit in January was revised down just slightly to a $16 billion increase from a month earlier. Revolving credit or use of credit cards rose $11.1 billion or nearly 20 percent, the Fed said. Non-revolving credit, such as loans for a new car or college tuition, rose by $2.4 billion, only a third of the over $9 billion increase seen in January. Home equity loans and mortgages are not calculated in the Fed's report.