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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (219318)	9/8/2009 5:18:03 PM
From: ChanceIs	Respond to of 306849

Consumer Credit Plunges By Record $21.6 Billion As The Main Driver For GDP Growth Says "Enough" >>>Tyler - Zero-Hedge has such a way with words.<<< Submitted by Tyler Durden on 09/08/2009 14:12 -0500 A record plunge in consumer credit, and the American middle class has just given the new and improved Obama-endorsed "spend spend spend" recovery and confidence plan the middle finger. $6.1 billion decline in revolving credit, and a $15.4 billion drop in non revolving credit, on a $4 billion expected decline! June's decline was revised downward to a $15.6 billion reduction in credit. Someone please spin how a record consumer retrenching is in any way benficial to America's GDP. Yet TradeBot and HAL9000 have largely priced in this $17 billion miss to consensus.