Charlie Rose has a conversation with Mike McConnell, Director of National Intelligence:
January 8, 2009
"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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January 11th, 2009 at 1:41 pm
Interesting. Sadly, no mention of Hussein Kamel in regards to Iraq which leads me to believe it’s an attempt to make the Bush White House look as if it was actually serious about national security.