American consumers find themselves in a hole... So they dig some more
I'm not kidding.
Idiotic remark of the day: "Consumer spending is indispensable to a healthy economy...Consumers, however, managed to continue spending, an important factor in keeping the economy moving."
I guess everything's fine then, even though, "Use of revolving credit, primarily credit cards, rose at a sizzling pace of 9.2 percent in March..."
What is this, Fox news? Jeannine Aversa needs 50 lashes with a mouse cord. Horribly irresponsible spin, masquerading as old-fashioned AP "objectiviry."
And we wonder why people are losing their homes in record numbers.