CONSUMER CREDIT CONTINUES TO CONTRACT

Still no sign of an end to the balance sheet recession as consumer credit continues to contract (via the Fed):

In August, total consumer credit decreased at an annual rate of 1-3/4 percent. Revolving credit decreased at an annual rate of 7-1/4 percent, and revolving credit increased at an annual rate of 1-1/4 percent.

Source: Federal Reserve

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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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