Consumer credit increased $3.4B in October to the best levels since July 2008. The 1.75% year over year expansion is the second consecutive month of gains. Revolving credit declined 8.4% for the 26th straight month while non-revolving credit increased 6.8%. This was driven primarily by new auto loans and student loans. Has the U.S. consumer stopped de-leveraging?
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.