Analysis and Discussion with Jay McIntosh of Consumer Foresight
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The Future of Macy’s – Analysis and Discussion with Howard Davidowitz: Shorted 62 Retailers This Year
"My formula for success is rise early, work late and strike oil." —John Paul Getty
Consumer Credit outstanding fell $14.8b in Sept seasonally adjusted, almost $5b more than expected and marks the 11th month in the past 12 of declines. At $2.456T outstanding, it is 4.9% below the record high in July '08. After a flat reading in Aug, (didn't fall b/c of the CARS program), non revolving debt outstanding fell by $4.9B. Revolving (mostly credit cards) balances outstanding fell by $9.9B. To fully put into perspective today's data, look at the current level of consumer credit (doesn't include mortgages, the biggest chunk of consumer credit) relative to GDP. As of Q3, it totaled 17.2%...
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November 29th, 2008 at 9:31 am
Always difficult to understand Howard Davidowitz…………
November 29th, 2008 at 11:05 am
Thanks for the useful information Barry.
- and for an unexpected shot of Betty into my Saturday morning.
So cool – and yet also so hot…
November 29th, 2008 at 1:07 pm
All those twenty-something’s that the Jay MacInstosh talked about as still working and shopping don’t know what’s going to hit them.
Chief Tomahawk: Yeah, he’s so wishy-washy.