• Alexstarfire@lemmy.world
    link
    fedilink
    arrow-up
    4
    ·
    9 days ago

    What’s up with the vertical line in 2010? Looks like credit literally doubled overnight. And in 2020 it went down? Guess those stimulus checks helped.

    • L7HM77@sh.itjust.works
      link
      fedilink
      English
      arrow-up
      5
      ·
      edit-2
      9 days ago

      2010, vaguely remember a change in credit/debt reporting related to the crash. Found this while searching, rules changed in July 2010. In theory, actual debt didn’t change, but it shows how vastly accounting can shift numbers around. Is the data accurate now?

      2020, consumer debt ‘only’ dropped by ~120 billion, supposedly ~3 trillion was distributed through stimulus, kinda lines up.