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Consumer Confidence Rises To Highest In Over 5 Years Just As Market Tumbles
Earlier we asked a simple question:
What time is the all time highest UMich Consumer Sentiment out?
— zerohedge (@zerohedge) November 9, 2012
the answer is 9:55... and while not an all time high, LOLfidence, pardon, CONfidence just printed the highest number since July 2007
While slightly off - there was a dramatic rise in confidence into the 2008 election also... just saying... as there has been going into every election for the last 30 years...
Insert appropriate laughing noises here...
Charts: Bloomberg
(h/t @Not_Jim_Cramer)
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Holy Sheeple! Batman!
5 years ago.....hmm, let's see. October/November 2007. Hmmm.......
Yep, it really paid well to be confident back then didn't it?!?!?!?!?!?!?!
I like how the gold/silver rally slowed on this. Makes no sense. If they truly are confident it stands to reason spending will pick up. Velocity of money will follow. An then the mother of all inflationary events.
But yeah, sell metals and buy stocks because people are confident. Great fucking idea.
Holy "sheeple", Batman,
the machines are here,
the machines are here.
Hey Kool-Aid! That guy provides a mighty boost to the economy with all the walls he knocks down.
http://www.youtube.com/watch?v=nBeUGqeYsQg
2,000 UMich students are now really really REALLY confident their student loans will buy the mini-Ipad
The survey must be adding in all those gas cans and generators bought on Amazon and shipped into NY/NJ this month.
I heard Bear Stearns is a screaming buy. Can't seem to find a quote though ....
Keep the masses confident and they will keep spending...
Edward Bernays is smiling...somewhere...
"Keep the masses confident and they will keep spending..."
Keep the masses falsely confident and they will reelect Obama. I said it months ago, and I'll say that again.
Now that the election is over, REALITY is going to start setting in, around January 1st. And I won't have much sympathy, since the morons VOTED FOR THIS...
This is a great indicator of how smart the electorate is...and why Obama was re-elected.
Heh, ask the 49% of the population that voted for romney how confident they feel now. The obama voters are broke (with the exception of the wall streeter hollywood contingents).
I'm feeling very confident...
...that we're totally fucked.
Confident, confident! Dry and secure! Raise your hand, raise your hand...if your sure!
http://www.youtube.com/watch?v=t-FZ21uDKeQ
I gotta go. Stores closing soon.
This reminds me of those commercials you see and hear that don't really seem to be selling anything other than the brand itself. The intent is to remind you what a great idea it was to buy "whatever" in the first place.
In this case (Consumer Confidence) the brand is democracy and we are very confident. We just voted....didn't we? LOL
<Just in time to begin the off year election campaigns.>
Right, we (inclusive of the 45 million cheque receipients) voted.
Demo-crazy !!!
Right. There really is nothing unsure in the future. Straight to hell with 100% probability.
Hey! Me too!
<<<<<<<<<
and im CONfidebt as well...
that this is some straight up mother fucking BULLSHIT....
Nice use of white space Red.......dramatic "pause"....
Jack Benny-ish..........
Green shoots, Bitchez!
consume consumer consumed
Well with Obama elected I know 47 million people are breathing a sign of relief.
Do they have names like Ramone, Tyrone, and Shaniqua?
and Latrine?
Around here they have names like Cory Don and Thema Kay
And, that 47% estimate is a little low.
Who is John Galt?
Anybody got directions to the Gulch? I'm about done...
Yeah, UofMich has been getting a lot of calls.
You mean the same 47 million that reelected Obama right?
Anticipation of removal of Obama. Sentiment will slam next month.
The removal of Obama may never happen.
Think not. The confidence comes from the thought that the government is going to hand out money. Obama did what no other president did by winning re-election with high unemployment because the voters realized that this guy will give them money for their vote. 30 years ago people needed to vote for a president that would find them a job. That is ancient history. Why get a job when you can get money? The job is just a middleman, isn't it???
Christmas is gonna be big! Wheeee!
I want a pony!
You're gonna get a waffle iron that makes pony-shaped waffles. How's that?
Look at all this free oxygen!
That was funny mate.
Do they do the polling at a Walmart?
Just drive by the local Walmart around the first of the month. Gawd, lines longer than Laren Lyster's Legs.
After about the 10th of the month it looks like a ghost town and you can park in the front row.
I go to Walmart 4 times a year and that's to buy my Rotella T 10-30 synthetic oil. I shower as soon as I get home.
The sheeple feel they are now saved. What a joke to be honest.
I am sure they will do their best to keep the budget negoiations out of the media until after Christmas day.
I'm confident that this ia the biggest bullshit indicator out there.
who's their sample survey...michigan auto union employees?
California teachers union...
Likely to vote Democrats.
Is that why the Nasdaq jumped 15 points in a minute or so.
That bullshit was set before the election rght?
Wonder what it is now?
If you say you are confident, you are either lying or on the receiving end of an Obamaphone.
Good placement of the Kool Aid guy..nice.
http://www.youtube.com/watch?v=28ML_aSHt0I
Just ridiculos the fraud that this country is peddling!
You have a divided country...how in the hell can consumer confidence rise?
You call a lot of people in Detroit on thier Obamaphones.
Because this survey was done pre election. The Obama voters saw Obama winning and so they said things are getting better. The Romney voters saw Romney winning and so they said things will get better. Between the 2 groups, that is a whole lot of "getting better". Hope & Change 2.0 this time, will still be Hoax & Chains 2.0 in the future.
http://bigpicture.ru/wp-content/uploads/2012/05/9159.jpg
Just missed the all time high by thiiiiiiisss much !
yes and wholesale inventories spun as positive news of course....due to rising inventories of oil and durable goods....because no one is buying!
Mr. KoolAid has no package. I'm confident he is a eunuch.
It's a virus. Doesn't need equipment.
And it's off to the races
Meanwhile half the Eastern Seaboard is ready to buy every "Pitchfork" and "Torch" in sight... Good thing the weather is cold, or the riots would have already ensued.
65 degrees this weekend. Actually the cold weather was the only thing holding off looters.
Is someone contesting the election?
God, but apparently the MSM are ignoring him too these days.
"Happy days are here again... A steroid/hormone enhanced chicken in every pot and a food stamp debit card in the mail! .. the sky are blue once again. Happy days are here again!"
In a Confidence Game, isn't it true that the mark doesn't realize they've been had until long after the con man leaves town?
now open your eyes..........
Anyone know if this "index" accounts for the exponential decline in the mental accuity of the populace?
Easy - jsut count double posts :)
Ineptocracy- A system of government where the least capable to lead are elected by the least capable of producing, and where members of society least likely to sustain themselves or succeed, are rewarded with goods and services paid for by the confiscated wealth of a diminishing number of producers.
Anyone know if this "index" accounts for the exponential decline in the mental accuity of the populace?
trust the news media trust the .gov reports not the continued empty store fronts, the growing street people, if the internet goes and the iphones don't work we got trouble big trouble in river city.
How is that even f$cking possible????????
Must not have surveyed any of these folks.
http://twitchy.com/2012/11/08/layoff-bomb-detonates-large-corporations-join-small-businesses-in-announcing-mass-cuts/
large corporations finally started to feel the heat. i am witnessing that middle managers have cut their personal spending radically. eg. they don't eat out as much as they did last year, or even in the second quarter.
It's simple. It's called fiat confidence.
The new Obama phones must have hit the mailboxes this week.
They should do the survey at the end of the month when EBT and SSI has run out and see what that looks like. It is always high at the beginning of the month.
"Each month, 500 individuals are randomly selected from the contiguous United States (48 states plus the District of Columbia) to participate in the Surveys of Consumers"
ROFL that is statistically significant now isn't it!! LOLOLOL....
NOT!
They found 500 people who could afford using a phone.
news to make you confident: from fla newspaper:
"Coming soon to a St. Petersburg neighborhood near you: an armored truck that you cannot miss and that cannot miss you, at least not with the four cameras mounted behind bullet-resistant glass, pointed in all four directions. "
makes one all warm and fuzzy..just knowing the police care so much.
Consumer Confidence board should get a spot on the Jay Leno Show.
I am highly confident that I won't be buying squat for xmas.
Hookers and crack indicator just jumped highest in eleventeen years...
I am confident I will be visiting the coin shop and ammo depot
this weekend. Same as last weekend and the one before.
Just yesterday, NY Times editorial was wondering if Barry could inspire confidence. All we gotta do is strut around with a cool walk and bling while guarding our packages and everyting will be a ok. LOL
What we got here is failure to communicate.
They're not even being smart about coordinating their numbers with other agencies. Shows how much they realize the masses are not even paying attention.
I am so confident I took my .357 magnum colt python painted a one hundred dollar bill on the tip put the gun to my head and pulled the trigger and I'm still
List of Job Cuts/Closings Since Obama's Reelection
http://investmentwatchblog.com/list-of-job-cutsclosings-since-obamas-reelection/
I thought it was Colorado where they legalised Marijuana?
They must be polling all of the Obama phone people.
False Flag
This is encouraging. The global recovery is clearly on track. Now all we need is an earthquake in California or Tennessee to REALLY speed up the recovery. Positively bullish.
The people that were polled were called on their Obamaphones. I did the math last night and realized that next year I will have to pay a minimum of $7000 more in taxes. $4500 from the end of the Bush tax cuts for a family of 5, about $1600 more for healthcare thanks to Obamacare, guessing about an additional $600 thanks to prop 30 increases here in California, and another $400 in county taxes and municipal fees that will go into effect next year. Now if you add inflation to that number it will even be worse. People don't realize what we are facing as taxpayers. As the government continues its out of control spending on programs to turn America into a totalitarian state they expect us to pay for it. So what's all this talk about the "Fiscal Cliff" all of a sudden? Ever since the election was over, this is all the MSM talks about. Funny how they wait until after the elections to show how bad the situation our Government is facing really is. Bottom line is America is pretty much fucked and now that the elections are finally over the pain will begin settling in...
tahoe, this is about confidence at new highs..you are a downer a real hater i guess..now get with the program.
True or not: As California goes, so goes the nation. And California is going right now.
With Obama mania sweeping the state, the Legislature having achieved two-thirds supermajority, a budget mired deeply in debt and Democrats complaining that schools and infrastructure are suffering because the “rich” ($250,000 and up) have neglected to pay their share, the axe that will fall on the nation is already cutting California businesses and homeowners to the quick.
Today, my parents who reside in California already are seeking ways to move out as are small businessmen hit with an increase in income tax. A major target of tax-crazy Democrats will be California real estate with the prospect of overturning Proposition 13, giving them an unlocked door to the houses of California.
The election winners are using the case of race to cause white flight from the state; already the white population of California has fallen to 39.7 percent with the Mexican population rapidly gaining on its heels at 38.2 percent. If Prop 13 is overturned, which raised the legislative vote threshold to pass tax increases to two-thirds, white flight will accelerate to dizzying proportions.
Here was the wake-up call to California taxpayers,, post-election, from the San Francisco Chronicle: Democrat gain supermajority in Calif. Senate:
Read more: http://www.sfgate.com/news/article/Democrats-gain-supermajority-in-Calif-Senate-4017740.php#ixzz2Bk025huU
'When asked specifically about prospective changes in the national
unemployment rate, consumers held the most favorable prospects since 1984.'
Makes sense to me,,,,,,,,,,,,Don't they coordinate with the BLS??!!
Im confident there is one letter too many in BLS
I'm confident this report is B.S.
Government spending as a percentage of GDP since 2009 has surpassed 40% – from 42.83% in ’09 to the current 40.63%; it is on its way to the WWII-induced spike in 1945 of 52.99% and has surpassed the WWI-induced spike of 29.31 % in 1919. As a percentage of GDP in 1903, it was 6.79%.
That, of course, explains the current spike in consumer confidence in the face of dire economic conditions; these are the “consumers” – rich and poor—confidently spending other people’s money, i.e., government stimulus. It cannot be savers who have $8 Trillion in U.S. bank accounts and certificates being wiped out to the tune of $400 billion a year by QE on its way to the stock market, to be spent by "others."
The source of this data is:
http://www.usgovernmentspending.com/us_20th_century_chart.html
Highest consumer sentiment since July 2007.
Wasn't that about when the Depression started?
A father telling a story to his daughter.."And the sheep population continued their bleating even as they were led to slaughter..."
artificial stimulus can provoke fake orgasms. Consumer Sally meets Market Harry.
....Only dimly aware of a certain unease in the air....
Bullish bitchez!
Consumer Con is high and going higher because it measures DEFLATION. if you see prices falling you feel confident. if i wanted a new car but i noticed that the dealers were raising new car prices i would feel pretty low. (UMICH doesn't measure groceries does it?) all durables are losing value, which is why the government steps in to buy mortgage paper. consumers don't have any money left to buy a new appliance after that darned mortgage payment.
and there is some bit of an illusion to falling prices, because durable vendors often drop their prices when sales tax increases hit, which they are doing. so i feel good when i see prices of durables steady or even falling, but the consumer gets hit when the cash register rings up the sales tax (most consumers don't think about that until its too late) so yes its a Con game.
John Williams of Shadowstats.com.warned on September 12, 2012 in the video below that hyperinflation within a little more than two years is virtually assured. The proof is in the pudding, the purchasing power of the dollar:
By Greg Hunter’s USAWatchdog.com
QUOTE: The Federal Reserve is talking about “unlimited QE,” or money printing, to boost employment. Economist John Williams says, “That’s absolutely nonsense. The Fed is just propping up the banks.” Williams says, “You’re likely going to see a dollar sell-off . . . That should evolve into hyperinflation.” Williams, “Doesn’t see the current system holding together without hyperinflation beyond 2014.” He contends the real annual deficit is “$5 trillion per year” and says, “That’s beyond containment.”
Williams predicts, “Hyperinflation is virtually assured because the Fed doesn’t have any options left.” Williams says people should get prepared because we are facing a “man-made disaster.” Join Greg Hunter as he goes One-on-One with John Williams of Shadowstats.com.
http://usawatchdog.com/hyperinflation-is-virtually-assured-john-williams/
but hyperinflation for who(m)? when the government subsidizes something, like food stamps (which I am pretty sure have a COLA built into the index?) then inflation bypasses them, but it hits me hard, because I buy my own food.when obama says he wants to tax the rich he means anyone who buys their own food and pays their own rent. with all the people who use food stamps, section 8, and housing subsidies through low interest rate loans, there are probably 100M voters into Uncles pocket, enough to swing the election anyway. but as the disparity between those who pay, and those who are subsidized, gets wider, then the non subsidized group gets hyperinflation.
Excellent argument; never heard it put quite that way before. Sort of helps explain the source of consumer confidence, the source of the economy’s buying power, and the source of Obama’s reelection euphoria. All temporary!
Unfortunately for the wealth redistributors, when the non subsidized cash cow dries up after its production has being milked, it’s hard times for everybody – there won’t be any money for anybody, and that includes - especially includes - the subsidized.
Good points well made...
You can't kill this bull with essays and surveys. My thesis is bullish. The more GS and JPM scream sell, the more bullish I am. The fact that they have enough money to trade at all is an indication of the free money being pumped into the system. No banking panic, no selloff.
Should be renamed" confidence game survey". the mass layoffs taking place should fix that in no time
it seems to me the results of this survey are at odds with the results of reality...
how did I come to this conclusion, you ask?
I walked outside.
but it does lead to to wonder, are there really that many people still that high on hopeium?
Love it, the kool aid guy is pissed on too much kool aid..
can we all just agree that most americans either don't give a fuck or are just too dim to see the writing on the wall?
Maybe it's one last blow out before dec 21st? :-o Just sayin...
Those UM pollsters sure have their finger on the pulse of the economy.
You can just feel the confidence oozing up in the heartland of America.