This graph shows the year-over-year (YoY) change in consumer credit. Consumer credit is off 3.6% over the last 12 months - and falling fast. The previous record YoY decline was 1.9% in 1991.
Consumer credit has declined for a record 9 straight months - and declined for 12 of the last 13 months. It is difficult to get a robust recovery without an expansion of consumer credit - unless the recovery is built on business spending and exports (seems unlikely).