Graphs, Electoral College
By Barry Ritholtz - November 3rd, 2008, 7:00AM
Nice depiction by chart:
"My formula for success is rise early, work late and strike oil." —John Paul Getty
Macro Notes
Consumer Credit continues downward trendPeter Boockvar
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 3rd, 2008 at 7:26 am
If we go by CNBC’s ability to call things, I suppose the repeated CNBC full court press early in the mornings with alleged market experts continuing to repeat McCain slogans, e.g. “the markets are pricing in the redistribution of wealth”, “this is the most historic election ever for Wall Street,” shows the graphs must be right.