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Consumers get control of their finances

Consumers' financial health continues to improve, as delinquency rates on credit cards and consumer loans in general continue to decline (latest data available is 12/31/11, so it is quite likely that current rates are even lower). Credit card delinquency rates are now at their lowest level since 1991. Mark Perry has some related comments on business loan delinquency rates, which have also fallen impressively. All of this suggests that the economy is much less vulnerable to unforeseen difficulties or slowdowns.

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