We might as well put on every post, Americans are flat busted!

The Federal Reserve released today the consumer credit numbers.

Consumer credit decreased at an annual rate of 5-1/4 percent in the second quarter.

Revolving credit decreased at an annual rate of 8-1/4 percent, and nonrevolving credit decreased at an annual rate of 3-1/2 percent. In June, consumer credit decreased at an annual rate of 5 percent.

At least Bloomberg is finally getting it's about the jobs man: