In case you missed the good news, for the first time since 2008, consumers actually increased the balances on their credit cards. The chart below shows the story of the deleveraging consumer, and now the first signs of life again.

I started thinking how great this was and made a list of all the wonderful things that will come from this:

  • Dave Ramsey’s is going to have new customers
  • Banks will stop trying to make money off responsible users like me
  • There was a bubble in the credit card shredder market
  • The frugality trend is over
  • The government can pull back some support on the economy
  • People can still afford a Verizon iPhone
  • Someone’s getting that new den furniture after putting it off for 3 years
  • No “staycations” this summer!
  • Finally start watching cable again
  • The dramatic rise in food and energy prices is catching up and people are using cards to absorb the pain.

Wait, that last one….. Hm…..

Be Sociable, Share!

  By 		The Weakonomist is the founder of Weakonomics. Clicking the picture of the puppy will tell you more about him. If you like what you're reading consider subscribing to the blog, following him on Twitter, and checking out the related posts below. Please consider a donation if you really enjoy Weakonomics. Also keep in mind that nothing I say can be construed as financial advice.

categories: banking, lists, personal finance