Warren Mosler — Consumer credit

The savings rate has been down, and the personal income curve has been bent lower as well, and retail sales have also slowed.

So it can all be read this way:

The consumer has less real disposable income, has cut back on spending, and has been ‘forced’ to put some of that reduced spending on his credit card, though less than the prior month, which doesn’t bode well for future spending:

The Center of the Universe
Consumer credit
Warren Mosler

See also

Stocks rising, but rates of flow falling.

Zero Hedge
US Credit Card Debt Surpasses Financial Crisis Record, As Student And Auto Loans Hit New All Time High
Tyler Durden