It's Not Over - The Collapse in Household Credit Says So

Monday, August 10, 2009, 9:22 PM

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Link:  It's Not Over - The Collapse in Household Credit Says So

A snippet:

Total credit market debt has more than doubled since the start of 2000 and it is this growth that is required to keep everything roughly on track. Quite perversely, and somewhat contrary to all the noise about "malfunctioning credit markets," total credit market debt is up $371 billion over the prior quarter and $958 billion over the past two quarters.

Interestingly, you will notice that in the chart above that total credit market debt seems largely unfazed by the credit market troubles that began in 2007 and blossomed in 2008. So what does it mean when the NYT offers the wisdom of experts who say that the credit markets are much healthier than they were?  From a macro-perspective, nothing appears wrong at all.

But there's a very interesting story lurking beneath the waves…

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