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Consumer Confidence Misses Consensus, Prints At 67.9 On Expectations Of 68.9, As Current Conditions Plunge Offset By Hopium Consumption

Tyler Durden's picture




 

Hopium consumption continues: expectations surge as current conditions plunge. If only any fundamentals mattered any more. UMich comes at 67.9 on expectations of 68.9, and a previous print of 68.2

Drilldown:

  • Expectations: 64.6 vs. Exp. 61.5 (Prev. 60.9)
  • Current Conditions: 73.0 vs. Exp. 79.8 (Prev. 79.6)
  • 5-year Inflation: 2.7% vs. Prev. 2.7%
  • 1-year Inflation: 2.6% vs. Prev. 2.2%
  • 12-month economic outlook index preliminary Oct 70 vs. Sept 61
 

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Fri, 10/15/2010 - 10:02 | 652552 Printfaster
Printfaster's picture

Fundamentals? I will give you fundamentals.  In yesterday's Wall Street Journal, the Fed was expounding the joys and virtues of goosing the the markets.

Goosing is your fundamentals.

 

Fri, 10/15/2010 - 10:04 | 652561 Cognitive Dissonance
Cognitive Dissonance's picture

If this down trend continues, the Fed might need to resort to IV injections of hopium as opposed to the normal delivery methods of psyops and propaganda. I'll take mine in the bank account, thank you very much.

Or better yet, something that can be easily converted into precious metals. Actual Gold and Silver coin or bar is simply too much to ask for at the moment, but I have high hopes this will change. 

Call me Ben, we haven't talked in ages.

Fri, 10/15/2010 - 10:08 | 652569 reading
reading's picture

Thanks, I'll take mine one bar at a time.  

Fri, 10/15/2010 - 10:10 | 652577 rocker
rocker's picture

What some consider one of Top Five Rare Earths would work too, Hafnium.  Good One

Fri, 10/15/2010 - 10:17 | 652594 Cognitive Dissonance
Cognitive Dissonance's picture

Thank you for opening up my universe.

Hafnium is used in filaments and electrodes. Some semiconductor fabrication processes use its oxide for integrated circuits at 45 nm and smaller feature lengths. Its large neutron capture cross-section makes hafnium a good material for neutron absorption in control rods in nuclear power plants. Some superalloys used for special applications contain hafnium in combination with niobium, titanium, or tungsten.

http://en.wikipedia.org/wiki/Hafnium

Fri, 10/15/2010 - 10:08 | 652570 rocker
rocker's picture

Bank of America's warrants hit 52 week low with stock.   BAC/WS/A

Fri, 10/15/2010 - 10:14 | 652588 Boilermaker
Boilermaker's picture

SPX down almost a full point!

Fri, 10/15/2010 - 10:17 | 652595 RobotTrader
RobotTrader's picture

As usual, "resource" and "hard asset" plays are the first dumped overboard upon the possibility of a renewed financial crisis.

Fri, 10/15/2010 - 10:37 | 652652 Bill Lumbergh
Bill Lumbergh's picture

Absolutely...would you rather have a quality gold miner making money hand over fist or a tech company making iCrap that will save the world with your ability to tweet on Twitter?

Fri, 10/15/2010 - 10:36 | 652653 Internet Tough Guy
Internet Tough Guy's picture

As usual, broad generalizations to support your agenda look silly.

Fri, 10/15/2010 - 10:18 | 652598 shushup
shushup's picture

Maybe to the suprise of the Fed the PDs will buy dollars with the POMO money instead of AAPL.

Fri, 10/15/2010 - 10:22 | 652612 Commander Cody
Commander Cody's picture

PDs - Fed.  What's the difference?

Fri, 10/15/2010 - 10:20 | 652602 99er
Fri, 10/15/2010 - 10:22 | 652611 system failure
system failure's picture

As they say on the "Price is Right" game show when deciding on the first price shown that is too much. That is too damn high. That reading must be rigged is all I can say.....

Fri, 10/15/2010 - 10:50 | 652705 Buttcathead
Buttcathead's picture

yeah, for real man...  Monte I dont want to pick a  door just get me the hell outta here !!!

Fri, 10/15/2010 - 10:44 | 652680 curbyourrisk
curbyourrisk's picture

Big deal Tyler.  Got a POMO today.  Market likes POMO.

 

 

Fri, 10/15/2010 - 10:45 | 652684 Buttcathead
Buttcathead's picture

All us non-banksters aint got no money, we done sold off our over priced stocks only to see the Fed bid them higher for the banksters.  Hell we cant afford nuttin anymore.  This sucks...  A strong dollar would help put a few pork chops on the table.  Good thing I quit paing the house note or I'd be hungry and pennyless.  good god what has become of our country.

Fri, 10/15/2010 - 10:51 | 652708 HarryWanger
HarryWanger's picture

No shit expectations are up - stocks have been rocketing higher. That has a huge effect on how the consumer feels.

Fri, 10/15/2010 - 10:57 | 652734 Critical Path
Critical Path's picture

"its beginning to look alot... like... christmas"

Sun, 10/17/2010 - 04:37 | 656161 Grand Supercycle
Grand Supercycle's picture

GOLD updated chart showing parabolic move.

http://stockmarket618.wordpress.com

Tue, 11/16/2010 - 10:27 | 730530 daniel
daniel's picture

Really this is a great post from an expert and thank you very much for sharing this valuable information with us.
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