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Top Bears Reasons To Sell — Vote below!

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 Credit still moving down in 2008

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edit Credit still moving down in 2008

Top Contributor: Andrew Horowitz | Last edited on 07/08/08 | Edit | History

The general trend for credit is still moving in the wrong direction and it is still providing evidence that the consumer is still struggling to pay for goods. This is clearly shown by the increase of $8.9 billion of consumer credit added in April. The main component of the increase is nonrevolving lines of credit that include durable goods. These are the same durable goods which have been slowing due to lack of consumer demand. So, what are these consumers spending on?

Image: Ccredit_april.png

It is not autos as we have seen a massive slowing for new vehicle sales. Here is my speculation: Perhaps it is consumers making a last ditch effort buying small to mid size durables as they are realizing that the credit party is quickly coming to an end. It's electronics, washers and dryers and any other goods that they can finance.

Image: Cc2 april.png

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