Credit card debt has dropped here and in other regions. Likewise, consumer borrowing has dipped. Is this the emergence of the disciplined consumer, the “new normal” in spending habits? For now, yes, writes an Equifax executive. A psychology professor laments that we still rely too heavily on plastic. And a state retail expert gives a holiday sales forecast.
Moderated by Rick Badie
The new normal for now
By Trey Loughran
After significant heart-related issues in 2010, President Bill Clinton swore off his beloved cheeseburgers and doughnuts and turned to a vegan diet. Much like our 42nd president, the American economy experienced a dramatic health crisis during the last four years, putting it into a financial version of intensive care. As the U.S. economy navigates a slow, gradual recovery, American consumers seem to be adopting a financial diet of their own.
But is this an indication of a new normal where disciplined consumers can (or will) be able to sustain that