Jul 10 2010
Middle class shuffle – how the banking system has given the illusion of prosperity with debt serfdom to working and middle class Americans. $14 billion in consumer credit yanked from the system last month.
A cold bucket of water was thrown on many middle class Americans when the consumer credit figures for May were released. Analysts were expecting an increase of $1 billion but instead over $14 billion in consumer credit was yanked from the system. You would think that a growing and healthy economy would require more credit [...]