CONSUMER CREDIT CONTINUES ITS DECLINE

Consumer credit fell again in September actually picking up pace from the August decline.  The total decline was 7.2% year over with revolving credit increasing its decline to 13.3%.  De-leveraging continues as consumers continue to fix their balance sheets.  The stock market, of course, could care less.

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Cullen Roche

Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds. Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances. He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.

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