And where, oh, where, did all that LIQUIDITY MONEY GO, Benny?
"US consumer borrowing increases by $14.3 billion" by Bloomberg News | August 8, 2008
WASHINGTON - US consumers borrowed more than twice as much as economists forecast in June as a decline in home equity forced Americans to fund purchases with credit cards and other loans.
Consumer credit rose by $14.3 billion, the most since November, to $2.59 trillion, the Federal Reserve said yesterday in Washington. Consumers are using credit cards and loans to cover expenses as falling home values cause banks to restrict access to home-equity lines.
--more--"
