Consumer credit and spending takes nosedive

Don’t believe the hype – the recession is not over until consumer spending picks up Thanks to Rob Patterson for the chart and bringing it all back to basics. Without consumer spending there is no economy and no recovery. His post Consumer Credit Crumbles – No Spending our way out of recession is more realistic than the media and government who want you to believe the worst is over but it is not. “Credit is being squeezed on both sides,” said economist Sean Maher of Moody’s Economy.com