Silver For The People

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95% Of Total Consumer Credit Lent In Past 12 Months Is For Student And Car Loans

zerohedge.com / by Tyler Durden on 01/08/2014 15:17 -0500

Another month, another disappointment for all those who hope the consumer will finally “charge it.” In November, consumer credit was expected to grow by $14.25 billion, instead it rose by $12.318 billion. However, it was once again the components that were key, because while $11.9 billion or the vast majority of November’s credit growth was in the form of car and student loans (i.e., non-revolving), a tiny $458 million was for revolving, or credit card, purchases.

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