Lee Chael

One surprise that has just been released is the 16-year low in credit card delinquency rates. While Occupy Wall Street protestors (some of them) are calling for the abolition of all debt, it seems that people have been busy unloading their credit cards since at least 2009.

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While this may reflect more consumers simply giving up and banks writing off the accounts, others have been paying down their credit cards. The Federal Reserve recently put out data showing current credit card delinquency rates are at 3.47%, coming close to the 3.46% low of 1995.

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For people seeking good news about the economy, data like these have to be somewhat promising. With Black Friday shopping numbers 6.6% higher in 2011 than 2010, and continual money printing coming from the Federal Reserve, the economy may be back on track to create its next manipulated bubble.