Stealing Secrets from Goldman Sachs
By Barry Ritholtz - July 10th, 2009, 9:26AM
Former Goldman Programmer Sergey Aleynikov Arrested for Theft Charges on July 3rd
Bloomberg News 4:14
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 11th, 2009 at 3:20 am
This is a prime example of why you Keynesians and your “managed economies” and fiat currencies are DEAD WRONG!
We are headed towards a cashless, electronic society controlled by corrupt bankers and even more corruptible algorithms and codes.
Keyneisan economics is fraudulent and anyone who promotes it directly, or indirectly, is neither a capitalist or a socialist… you’re just plain stupid!
Keep living the lie, sooner or later some of you will figure it out–hopefully by then you’ll be able to think freely about it and not have to worry about the Thought Police arresting you for blasphemy.