Michael Lewis: The Man Who Crashed the World
By Guest Author - July 3rd, 2009, 11:53AM
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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July 3rd, 2009 at 11:53 am
[...] « Paul Krugman on Charlie Rose Michael Lewis: The Man Who Crashed the World [...]
July 3rd, 2009 at 12:36 pm
Sorry, but this iPaper article does not come load up on Opera or Firefox
~~~
BR: Works on Firefox for a mac . .
July 3rd, 2009 at 8:07 pm
I have Fireofx 3.01 and it loads OK. But I have an account (free) at Scribd. Maybe it would help.
July 3rd, 2009 at 10:50 pm
Print does not come right. Where is the PDF version?
July 3rd, 2009 at 10:55 pm
I got it
July 4th, 2009 at 11:31 am
I’m sorry, I still don’t see the PDF version. Does anyone else see it?
July 4th, 2009 at 1:14 pm
1. open scribd account (takes about 1 min)
2. save doc
3. print pdf
4. very cool
July 5th, 2009 at 9:50 am
Thanks Mark.
July 16th, 2009 at 12:36 pm
A more readable version is also online at the Vanity Fair web site:
http://www.vanityfair.com/politics/features/2009/08/aig200908