Although many people are familiar with the GAMCO Mathers and Ned Davis Research versions, kudos to Paul Kedrosky's Infectious Greed for pointing us to a colorfully up-to-date rendition of the now (in)famous chart.
Nice chart from Morgan Stanley breaking down total U.S. credit market debt as a percentage of GDP since 1929. The differences in the debt’s composition from the 1930s to today are striking, with households, not corporates, being the credit problem children today.
Well, if there is anyting like a reversion to the historical mean, all those people calling a bottom are sure going to get their come-upance...
Posted by: Carlomagno | March 25, 2009 at 06:40 PM
Looks to me like financial and GSE debt are just as culpable as household debt, which the GSE/financial industry itself engineered.
Posted by: Bob | March 26, 2009 at 12:28 AM