A conversation about President Bush’s Final Press Conference with Jon Meacham, Sheryl Gay Stolberg and Robert Draper
January 12, 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 14th, 2009 at 3:39 am
Love the look on Charlie’s face up there. Perhaps he’s thinking not only about that insane, bizarre press conference, but about some of those other TV appearances
January 14th, 2009 at 4:45 am
George W. Bush is GOD inside the walls and corridors of Haliburton….