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Consumer credits skyrockets, led by student and car loans

Credit: zerohedge.com

Credit: zerohedge.com

Can’t get a job? Go back to school then pray you’ll find a job that pays enough so you don’t have to eat Ramen for the next ten years while paying it off. Might as well buy a car at subprime rates to, to insure your penury.

Credit card and revolving loans dropped in March by $1.7 billion while student and car loans rose a whopping $9.6 billion and get this, the US government is by far the biggest source of consumer credit.

Gosh, that seems totally sustainable to me. Well, the banksters are making plenty from this, backstopped by their junior partner Uncle Sam. When these bubbles pop they will surely go whining to Washington saying who could have possibly expected this and beg / demand more bailouts.

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