Consumer Credit
The consumer took on approx $15B in loans. (article)
I am concerned by it. Only because the expected rise was $6B, and wages are declining (when factoring inflation).
The rebate checks are a nice bump to the system, but imo, the market already discounted the spending. I will be actively looking to short the RTH after today. Wal-Mart should give it a boost, but after the rebate checks get flushed out of the system or allow less (or delay) defaults to occur, I do not know where the consumer is going to get more money. Especially with declining wages, and jobs contracting.
