Stunning: 98% Of Q1 Consumer Credit Was Student And Car Loans

We had spotted some credit card statistics and US student loan statistics earlier - we spotted this rather stunning stat today:

"98% of the credit lent out in the first quarter, or $44.3 billion, went to student and car loans!

The amount of credit that actually made it into the broader, consumer economy, i.e., credit card or revolving credit: a negative $600 million" (Source)