As Conference Board/UMichigan Find Confidence At 3 Year High, Rasmussen Says Investor Confidence Plunges To 2011 Lows

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Fri, 02/25/2011 - 12:49 | 997132 jus_lite_reading
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Of course, the CONference Board sees CONfidence at 3 year highs!

There's no better way to improve consumer confidence than to see your food bills increase 30% YoY, to see your gas bill go up 50% YoY, to see interest rates sky rocket and to see your home value decline!

Everyman has a castle! Everyman has a Rolls in the driveway and a roast duck on his plate!

Fri, 02/25/2011 - 19:39 | 998447 poor fella
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They polled the consumers that decided to stop paying on their credit cards, or the other 99'ers perhaps - (the ones that haven't paid a mortgage for 99 weeks)? Might make one feel pretty good, maybe even frisky enough to go on a shopping spree!

Fri, 02/25/2011 - 12:47 | 997137 sulfur
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damn so much confidence...guess when gadaffi funded these universities he send them some of these revolution making drugs as well.....

Fri, 02/25/2011 - 13:02 | 997185 sabra1
sabra1's picture

well, isn't the Bernank a confidence man?

Fri, 02/25/2011 - 13:15 | 997246 eddiebe
eddiebe's picture

Isnt his name Quadhafi?

Fri, 02/25/2011 - 12:48 | 997140 Arthor Bearing
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It's too bad, the US economy is gonna need alot more confidence if its gonna score with the fertile plains of the near east. What an awkward courtship

Fri, 02/25/2011 - 12:50 | 997144 Seasmoke
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i am quite confident that the entire ponzi economy will collapse in 2011

Fri, 02/25/2011 - 12:50 | 997147 Buckaroo Banzai
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What else would you expect from BloomTurd?

Fri, 02/25/2011 - 12:51 | 997150 fuggetaboutit
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makes sense consumer confidence at 3 year high while HP cant give a computer away and GM only sold cars in Q4 because they jammed their incentives up to about 150% above the industry average while re-entering the subprime lending business (repeat: GM reacquired Ally in Q4, TO RE-ENTER TO FREAKING SUB PRIME LENDING BUSINESS)



Fri, 02/25/2011 - 14:07 | 997377 DoChenRollingBearing
DoChenRollingBearing's picture

Looks like GM would be a good short then...

Fri, 02/25/2011 - 12:51 | 997151 cowdiddly
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Great time to move to Detroit. LOL

Fri, 02/25/2011 - 13:19 | 997258 Bleeping Fed
Bleeping Fed's picture

I bet Detroit has thousands of great fixer-uppers...

Fri, 02/25/2011 - 12:51 | 997153 SheepDog-One
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'Consumers' are confident...hell even Walmart is showing big slowdowns. The desperation of these people is embarassing.

Fri, 02/25/2011 - 14:18 | 997400 rosiescenario
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yes, that news from Walmart was worse than expected and should be further down as gasoline and food prices further curtail consumer spending.

Fri, 02/25/2011 - 12:55 | 997165 gmj
gmj's picture

Investors are smarter and more knowledgable than the average consumer.  Investors have less confidence than the average consumer.  Correlation maybe?

Fri, 02/25/2011 - 12:56 | 997166 vainamoinen
vainamoinen's picture

Hey!- I'm confident - - -

confident that some people I know are about to lose their jobs and their houses.

But, like Barback says, "it's all good" - - -

Fri, 02/25/2011 - 12:56 | 997167 Oh regional Indian
Oh regional Indian's picture

The theater of the absurd. It's up, it's down...

of course it's down. In people's boots, if you read the reports.

Full propaganda mode is on now. Gaddafi's death rumor another case in point.

Caveat Emptor for news.


Fri, 02/25/2011 - 13:00 | 997178 jus_lite_reading
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Remember this: Headlines are for suckers.

On retail suckers "buy" the headline. The savvy investors know there is no reality. What is truth?

Consumers are confident that American Idol and Dancing with the Stars will continue to air even if revolution takes place in this country.

Fri, 02/25/2011 - 13:06 | 997189 goldstandard
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The consumer confidence poll seems exactly that. A confidence game. You would have to be out of your freaken mind to believe that people are confident that their going be able to feed themselves after finding that gas in many places is now over $4 Federal Reserve monopoly notes a gallon. They might think twice about seeing a doctor if they do have health insurance because that co-pay might be better spent feeding themselves. But hey, what do I know. The Grand Puba Bernake says inflation is sooooooooooo tame. No worries.

Sorry Barrack, your administration is a failure on many levels as you should have given Ben the heave ho a long time ago. It would also have helped if you grew a pair and stood up to Wall Street every now and then. But hey, look at the bright side. You all have another 2% less in Social Security deductions in your pay checks, so that will more than off set those sky rocketing gas and food prices. Right? Polls and numbers are there to be massaged and manipulated in order to maintain at best, public opinion. Hitler's boyz had that down pat., but if you really want to know what's going on, just head to your local Piggly Wiggly supermarket or local gas station. The cardiac arrest is free of charge.

Fri, 02/25/2011 - 14:22 | 997405 rosiescenario
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"It would also have helped if you grew a pair and stood up to Wall Street every now and then."

...I think he hopes to be re-elected and heard the campaign will cost about $1bil......he needs GS more than they need him, though he has been pretty good to them.

Fri, 02/25/2011 - 13:04 | 997196 Dick Darlington
Dick Darlington's picture

In this CONfidence indicator the n is what, 300 in the initial survey and 500 in the final version. I guess the survey is done with a few hand picked bankstaz who just got their bonuses.

Fri, 02/25/2011 - 13:12 | 997224 Milton Waddams
Milton Waddams's picture

"Do you have the consumer confidence report? Hmmm.... yeaahhh... okay, I'm going to need you to come in on Saturday then."

Quickly loads a chart of the S&P 500, recognizes that stock prices are where they were three years ago.

"Uh, Bob... I mean sir ... I, uh, made the calls. Confidence is at a three year high. No need to come in on Saturday then, right?"

Fri, 02/25/2011 - 13:11 | 997227 logicalthought
logicalthought's picture

It's interesting how after frequently quoting the ABC Consumer Sentiment Poll (now the "Bloomberg" Poll), you didn't quote yesterday's:



Fri, 02/25/2011 - 13:12 | 997228 papaswamp
papaswamp's picture

Rasmussin and Gallup both have Consumer confidence down. I think the conference board is now a non-indicator.

Fri, 02/25/2011 - 13:21 | 997265 eddiebe
eddiebe's picture

Q.E.III is in the bag.

Fri, 02/25/2011 - 13:22 | 997267 Bleeping Fed
Bleeping Fed's picture

I wonder what will happen to consumer confidence when cheap Chinese baubles aren't cheap any longer...

Fri, 02/25/2011 - 13:52 | 997344 Cognitive Dissonance
Cognitive Dissonance's picture

Conference Board/UMichigan public sentiment indicator.

Public myth making at it's finest.

Fri, 02/25/2011 - 14:18 | 997401 oklaboy
oklaboy's picture

Obama the wise and wonderful, Obama the wise and wonderful

Fri, 02/25/2011 - 14:26 | 997414 topcallingtroll
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I do see consumers more confident. Spring is almost here and people are bored with constant crises and have become desensitized to fear. You can only stay afraid for so long.

On the other hand as an investor I am pessimistic. There is no value out there and weeds are priced like flowers, even precious metals.

Munis now in many cases have a higher return than treasuries and they are free of federal taxes, even triple A secured general obligation that have priority over other state obligations. That is the only "value" out there.

Fri, 02/25/2011 - 14:26 | 997418 rosiescenario
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Coincidentally, Fidel reported that the consumers in Cuba are very happy, too, which meshes with Dear Leader's report on North Korean consumer sentiment, also at an all time high.

Fri, 02/25/2011 - 15:01 | 997525 Bleeping Fed
Bleeping Fed's picture

Dear Leader:  I have 5 tons of twinkies.  How many nukes that buy?

Fri, 02/25/2011 - 15:23 | 997593 JR
JR's picture

It reminds me of a Dilbert cartoon where Dogbert was selling autographed baseballs to low-wattage people.






As Nathan Martin said of the “confidence” game today in his Market Update:

“[P]syops has an impact.  ‘Consumer’ Sentiment just came out higher to go along with the inflated supply of money – 77.5, up from 75.1. Still depression era levels, but come on…come join the party, everything is ‘growing.’

“Where just yesterday it was reported that New Home Sales fell to only 284,000 one of the lowest numbers in modern history, and well below the previous month and expectations as well.  That’s because expectations are based on psyops, homes exist in reality.” – Nathan’s Economic Edge 2/25/11

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