I don’t think we’re going to have the credit-fueled spending we had in the past. A lot of consumers are deleveraging. They see excess borrowing as threatening.

Gary Thayer, chief macro strategist at Wells Fargo Advisors, on the decline of $11.5b in consumer credit in February, which followed a revised $10.6b gain in January. If January’s revised figure could be two times as large as originally thought, could February’s ultimately show a similar distortion? via Bloomberg