The AP ran a story today that says the credit card debt and delinquency rate in the USA is a growing disaster. They quoted a visiting scholar at Stanford Univeesity named Cliff Tan.
I am ususally skeptical about the MSM experts so I googled Mr. Tan. Below is his CV from the university website.
IMHO, based on the info provided by Stanford's website, Mr. Tan may be an expert but not about American credit. I wonder why and how Mr. Tan was selected by the AP to comment on their story?
Beginning of CV:
"Cliff Tan is a Visiting Scholar at the Stanford Center for International Development. Prior to SCID, Mr. Tan headed up local markets strategy and research in fixed income and foreign exchange for Citigroup in Asia. In 18 years of research on Asia and Japan, Mr. Tan also worked as FX/Interest Rate Strategist and acting cohead of Asian Economics for Warburg Dillon Read (now UBS), Japan and Asia Economist for Wellington Management Company, and proprietary trading/credit risk economist for Bankers Trust Company. Mr. Tan has been recognized as a top five currency strategist by Asiamoney (including a #1 ranking in 2003), and has been cited for work as both an economist and strategist by The Asset magazine.
Before entering financial markets, Mr. Tan was an economist at the US Federal Reserve Board covering Greater China, a Lecturer at the University of Hong Kong's School of Economics and Finance, and Visiting Fellow at the Korea Development Institute.
Mr. Tan received MPhil and MA in Economics from Yale University, and an AM in East Asian Regional Studies from Harvard University. He holds an AB (magna cum laude) from the University of Southern California."
END of CV