Here are some of the highlights of credit growth in 2020:
During the first nine months of 2020, Total Credit in the US expanded by $6.4 trillion. The previous full-year record for Credit Growth was $5 trillion in 2007.
Total Credit now amounts to $82 Trillion. It has increased 82 times in just 54 years.
Total Credit grew more during the second quarter of 2020 than during all of 2019.
Government Debt increased by $3.8 Trillion during the first three quarters of 2020. That was more than Total US Debt increased by during all of 2019 ($3.3 Trillion).
Since mid-2008, Government Debt has increased by 270%. That jump in Government Debt has kept all the other sectors of the economy solvent and prevented the United States from falling into a Depression, TWICE, during the past 12 years.
Corporate Debt increased more during the first quarter of 2020 ($660 billion) than its average annual increase over the previous three years ($580 billion).
Household Sector Net Worth climbed by $5.2 Trillion during the first nine months of 2020, despite the pandemic.
