- Infowars - http://www.infowars.com -

October Consumer Credit Rises By $14.2 Billion, Government Funds 70 Cents Of Every Dollar

Posted By kurtnimmoadmin On December 7, 2012 @ 4:45 pm In Economic Crisis,Old Infowars Posts Style | Comments Disabled

December 7, 2012

A month after consumer credit rose by $12 billion (revised) driven by car and student loans, even as revolving credit declined, total consumer credit in October once again rose in both revolving and non-revolving categories, up by $14.2 billion, consisting of $3.4 billion in revolving and $10.8 billion in non-revolving. This number will probably get revised lower next week. The number which will not be revised lower is the composition of sources of consumer credit, where the Government sourced 70% of all new loans (on a NSA) basis: $7 bilion of a total of $10.3 billion. For some perspective, the US government has funded $114 billion of the total $156 billion in total consumer debt in the past year.

Between the Fed and Uncle Sam, who needs banks?

Monthly consumer credit:

Sources of Consumer Credit:

Article printed from Infowars: http://www.infowars.com

URL to article: http://www.infowars.com/october-consumer-credit-rises-by-14-2-billion-government-funds-70-cents-of-every-dollar/

Copyright © 2015 Infowars. All rights reserved.