More interesting tidbits from Minyan Peter

[c1ue]

Always worth the read...

http://www.minyanville.com/articles/.../index/a/18147

At the same time, with Citigroup (C) reporting last week higher consumer losses in Mexico, Brazil and India, I would also offer that the emerging market middle class consumer boom, which many are relying on for global growth ahead, may be far more at risk than people think. As any student of Iranian or South African history can attest, natural resource booms are not nearly the boost to the middle class as one might suspect.

The details?

http://yahoo.brand.edgar-online.com/...7469-08-008604

Global Cards 
  
North America 
$ 
178 
$ 
711 
(75 
)% 
$ 
715 
$ 
1,583 
(55 
)% 
  
EMEA 
19 
53 
(64 
) 
74 
98 
(24 
) 
  
Latin America 
165 
184 
(10 
) 
681 
419 
63 
  
Asia 
105 
109 
(4 
) 
236 
214 
10 
  
  
Total Global Cards 
$ 
467 
$ 
1,057 
(56 
)% 
$ 
1,706 
$ 
2,314 
(26 
)% 
Consumer Banking 
  
North America 
$ 
(951 
) 
$ 
891 
NM 
$ 
(1,284 
) 
$ 
1,641 
NM 
  
EMEA 
65 
89 
(27 
)% 
66 
122 
(46 
)% 
  
Latin America 
76 
183 
(58 
) 
347 
352 
(1 
) 
  
Asia 
110 
310 
(65 
) 
309 
616 
(50 
) 
  
  
Total Consumer Banking 
$ 
(700 
) 
$ 
1,473 
NM 
$ 
(562 
) 
$ 
2,731 
NM 

This may be due to Citibank just imploding in general, but then again maybe not.