Looks like consumers were way ahead of Bush and Wall Street

[malaise]

http://www.marketwatch.com/news/story/consumers-pay-down-debt-first/story.aspx?guid={2F78275E-B420-4BCD-A1A7-910B0DC83A8E}&dist=SecMKTW
<snip>
U.S. families paid off consumer debts at the fastest pace in more than 10 years in August, a sign that consumers are rushing to pare back their spending and save more money as the economy slips deeper into recession.
It was the first month since January 1998 that consumers had paid off more debt than they took on.
Borrowing to buy an automobile declined sharply. Consumers also charged less on their credit cards than they paid off.
Seasonally adjusted consumer debt -- including credit cards, auto loans and other unsecured debts -- fell by a record $7.5 billion, or a 3.7% annual rate, to $2.58 trillion in August. That's the largest percentage drop since January 1998, the Federal Reserve reported Tuesday.
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Now burn those credit cards.