Sean King

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Knoxville, Tennessee, United States

Sunday, May 9, 2010

"[R]evolving credit continued a slide seen since 2009, falling 4.5 percent at an annual rate in March. The majority of revolving loans are made up of credit card debt, and a decline indicates some consumers are managing to reduce what they owe."

While that's a good think in the long run, it's bad for inflation hawks and politicians who are worried about high unemployment.

The article notes that total consuumer credit increased very modestly in March, but that figure can't be trusted since it includes loans for automobiles (which enjoyed a good month thanks to the impending expiration of government subsidies).

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