So Black Friday's record breaking sales which turned out to be on negative margins (imagine what kind of records we could break selling silver for $10 an ounce this month) were also purchased with funds that don't exist. Notice the MOPE that states this as a positive sign.
Welcome to the recovery.
WASHINGTON (Reuters) - Consumer credit surged 10 percent in November, its biggest jump in a decade in a positive signal for the economy as consumers tapped their credit cards and the government doled out more student loans.
Outstanding consumer credit increased to $20.37 billion during the month, the Federal Reserve said on Monday. That was the biggest gain since November 2001 and nearly three times the median forecast in a Reuters poll.
Revolving credit, which mostly measures credit-card use, rose $5.60 billion, a third straight monthly increase.
"Credit growth is a positive sign for the recovery in that it signals increasing demand and willingness to spend," said Paul Edelstein, an economist at IHS Global Insight in Lexington, Massachusetts.
Edelstein said, however, that there was a risk the credit growth could be a sign that chronic unemployment was leading more people to turn to credit to fund necessary expenditures.
The government said late last month that consumer spending edged up just 0.2 percent in November, with households cutting back on their saving.
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