Revolving credit and home prices

Revolving credit (mostly credit card debt) has been on the rise lately now that the home equity ATMs for many Americans have stopped dispensing cash.
In Washington, D.C. and on Wall Street they're probably saying, "As long as they get the money from somewhere, we can keep this thing going. How long do you think we can keep expanding revolving credit until that shuts down too? How much of that debt is securitized?"

And the reporting by the mainstream financial media on credit and spending offers continuing evidence for future historians about just how crazy the current era really is. They say things like, "In a promising sign for the economy, consumers increased their borrowing last month. Consumer spending is responsible for more than two-thirds of economic activity in the U.S. and many economists now fear a recession if consumers cut back on their borrowing and spending".

It would be funny if it weren't so sad.