Comments on: Chart of the day: consumer credit growth http://www.creditwritedowns.com/2008/05/chart-of-day-consumer-credit-growth.html Finance, Economics and Markets Fri, 10 Feb 2012 00:37:00 +0000 hourly 1 By: Edward Harrison http://www.creditwritedowns.com/2008/05/chart-of-day-consumer-credit-growth.html#comment-29 Edward Harrison Thu, 29 May 2008 20:29:00 +0000 http://www.creditwritedowns.com/2008/05/chart-of-the-day-consumer-credit-growth.html#comment-29 I think you're right about the high levels of debt. Servicing that debt is tough and, from what I have heard, we are near a record in terms of debt service costs as a percentage of income. The US consumer has been miraculous in the ability to take on this much debt and keep spending. I think you’re right about the high levels of debt. Servicing that debt is tough and, from what I have heard, we are near a record in terms of debt service costs as a percentage of income. The US consumer has been miraculous in the ability to take on this much debt and keep spending.

]]> By: Anonymous http://www.creditwritedowns.com/2008/05/chart-of-day-consumer-credit-growth.html#comment-28 Anonymous Thu, 29 May 2008 20:01:00 +0000 http://www.creditwritedowns.com/2008/05/chart-of-the-day-consumer-credit-growth.html#comment-28 Like you website, keep up the great work.<br/><br/>I believe the reason we haven't seen bottoming in 2001-03 is b'cos of lax in regulation as well as (as you pointed out) cheap credit. And probably lot of folks depended on it too-much. I bet the % of credit/debt per person in US is at an all-time-high. <br/><br/>I am afraid the last few years of growth has been purely due to this and the HELOCs. Like you website, keep up the great work.

I believe the reason we haven’t seen bottoming in 2001-03 is b’cos of lax in regulation as well as (as you pointed out) cheap credit. And probably lot of folks depended on it too-much. I bet the % of credit/debt per person in US is at an all-time-high.

I am afraid the last few years of growth has been purely due to this and the HELOCs.

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