In 2008, the value of crude-oil rose to nearly $150 a barrel, only to plummet to just over $40 a barrel. WSJ’s Liam Denning talks about the year that was and the outlook for the commodity heading into ‘09.
12/10/2008
"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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December 11th, 2008 at 7:39 am
Election is over, but starting WWIII over oil seems a bit much…
http://www.foxnews.com/politics/elections/2008/12/11/report-obama-offer-israel-nuclear-umbrella-iran/
Report: Obama to Offer Israel ‘Nuclear Umbrella’ Against Iran
December 11th, 2008 at 7:42 am
This is the problem with electing people with no experience…hopefully this was an off the cuff comment…perhaps this is why so many of the old Clinton advisors are being sought..