Your one-handed economist interprets macro!

Chairman Ben will deliver a 4-part lecture series at the GW-School of Business on the Fed and the financial crisis. This will be in late March. Watch it (HERE).

Meanwhile, the decline in housing prices accelerates (HERE). At this rate, my house may soon be worth what I paid for it 12 years ago!

Several people have remarked on the recent spike in consumer credit.visible in this Bloomberg screenshot below. Is this bullish or bearish? .Bullish because they are spending it,or bearish since without incomes, borrowing is the only way to go? This is not that large a number though, the chart reports a net change of $17 billion, I think the total is in the trillions. Wish I had that Bloomberg rather than stealing screenshots from the Web!

 

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