The Consumer Credit Game Is OVER

We recently got an updated G.19 from The Fed that contained "revised" consumer credit numbers that showed the top in consumer credit (all but mortgages) was in fact in July of 2008, not January of 09 as previously reported... This morning the US Census released its update with per-capita income numbers for 2008 being released.

Here's the updated "big picture" chart - click for a bigger copy, and please note that I have updated the file repository, so Tickers from the previous couple of weeks that used this "benchmark" chart will update as well...

Denninger: The Consumer Credit Game Is OVER