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Consumer Confidence Rises To Highest In Over 5 Years Just As Market Tumbles

Tyler Durden's picture


Earlier we asked a simple question:



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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Fri, 11/09/2012 - 11:04 | 2964337 Calidreaming
Calidreaming's picture

Holy Sheeple! Batman!

Fri, 11/09/2012 - 11:13 | 2964388 ihedgemyhedges
ihedgemyhedges's picture

5 years ago.....hmm, let's see.  October/November 2007.  Hmmm.......

Yep, it really paid well to be confident back then didn't it?!?!?!?!?!?!?!

Fri, 11/09/2012 - 11:16 | 2964399 CvlDobd
CvlDobd's picture

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.

Fri, 11/09/2012 - 12:13 | 2964631 old naughty
old naughty's picture

Holy "sheeple", Batman,

the machines are here,

the machines are here.

Fri, 11/09/2012 - 12:32 | 2964704's picture

Hey Kool-Aid! That guy provides a mighty boost to the economy with all the walls he knocks down.

Fri, 11/09/2012 - 12:47 | 2964772 Stackers
Stackers's picture

2,000 UMich students are now really really REALLY confident their student loans will buy the mini-Ipad

Fri, 11/09/2012 - 12:54 | 2964797 ParkAveFlasher
ParkAveFlasher's picture

The survey must be adding in all those gas cans and generators bought on Amazon and shipped into NY/NJ this month.

Fri, 11/09/2012 - 12:28 | 2964690 dracos_ghost
dracos_ghost's picture

I heard Bear Stearns is a screaming buy. Can't seem to find a quote though ....

Fri, 11/09/2012 - 11:17 | 2964401 MillionDollarBogus_
MillionDollarBogus_'s picture

Keep the masses confident and they will keep spending...

Edward Bernays is smiling...somewhere...

Fri, 11/09/2012 - 11:56 | 2964570 FlyoverCountryS...
FlyoverCountrySchmuck's picture

"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...

Fri, 11/09/2012 - 11:18 | 2964406 eatthebanksters
eatthebanksters's picture

This is  a great indicator of how smart the electorate is...and why Obama was re-elected.

Fri, 11/09/2012 - 12:42 | 2964751 Rathmullan
Rathmullan's picture

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).

Fri, 11/09/2012 - 11:04 | 2964338 redpill
redpill's picture

I'm feeling very confident...













...that we're totally fucked.

Fri, 11/09/2012 - 11:08 | 2964350 HD
HD's picture

Confident, confident! Dry and secure! Raise your hand, raise your hand...if your sure!

Fri, 11/09/2012 - 11:11 | 2964369 JPM Hater001
JPM Hater001's picture

I gotta go.  Stores closing soon.

Fri, 11/09/2012 - 11:13 | 2964382 Cognitive Dissonance
Cognitive Dissonance's picture

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.>

Fri, 11/09/2012 - 12:16 | 2964638 old naughty
old naughty's picture

Right, we (inclusive of the 45 million cheque receipients) voted.

Demo-crazy !!!

Fri, 11/09/2012 - 11:17 | 2964407 Central Wanker
Central Wanker's picture

Right. There really is nothing unsure in the future. Straight to hell with 100% probability.

Fri, 11/09/2012 - 11:18 | 2964416 CvlDobd
CvlDobd's picture

Hey! Me too!

Fri, 11/09/2012 - 11:32 | 2964472 Kaiser Sousa
Kaiser Sousa's picture

and im CONfidebt as well...












that this is some straight up mother fucking BULLSHIT....

Fri, 11/09/2012 - 11:33 | 2964473 BeetleBailey
BeetleBailey's picture

Nice use of white space Red.......dramatic "pause"....



Jack Benny-ish..........

Fri, 11/09/2012 - 11:04 | 2964339 Vincent Vega
Vincent Vega's picture

Green shoots, Bitchez!

Fri, 11/09/2012 - 11:04 | 2964340 TeamDepends
TeamDepends's picture

consume consumer consumed

Fri, 11/09/2012 - 11:05 | 2964341 BurningFuld
BurningFuld's picture

Well with Obama elected I know 47 million people are breathing a sign of relief.

Fri, 11/09/2012 - 11:09 | 2964357 adr
adr's picture

Do they have names like Ramone, Tyrone, and Shaniqua?

Fri, 11/09/2012 - 11:12 | 2964380 Gavrikon
Gavrikon's picture

and Latrine?

Fri, 11/09/2012 - 11:16 | 2964390 cowdiddly
cowdiddly's picture

Around here they have names like Cory Don and Thema Kay

And, that 47% estimate is a little low.

Fri, 11/09/2012 - 11:19 | 2964417 eatthebanksters
eatthebanksters's picture

Who is John Galt?

Fri, 11/09/2012 - 11:58 | 2964576 FlyoverCountryS...
FlyoverCountrySchmuck's picture

Anybody got directions to the Gulch? I'm about done...

Fri, 11/09/2012 - 11:12 | 2964376 rubearish10
rubearish10's picture

Yeah, UofMich has been getting a lot of calls.

Fri, 11/09/2012 - 11:41 | 2964515 Hayabusa
Hayabusa's picture

You mean the same 47 million that reelected Obama right?

Fri, 11/09/2012 - 11:05 | 2964342 bnbdnb
bnbdnb's picture

Anticipation of removal of Obama. Sentiment will slam next month.

Fri, 11/09/2012 - 11:18 | 2964415 northerngirl
northerngirl's picture

The removal of Obama may never happen.

Fri, 11/09/2012 - 11:31 | 2964468 insanelysane
insanelysane's picture

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???

Fri, 11/09/2012 - 11:05 | 2964343 Lost Wages
Lost Wages's picture

Christmas is gonna be big! Wheeee!

Fri, 11/09/2012 - 12:03 | 2964593 pods
pods's picture

I want a pony!

Fri, 11/09/2012 - 14:35 | 2965296 Jena
Jena's picture

You're gonna get a waffle iron that makes pony-shaped waffles.  How's that?

Fri, 11/09/2012 - 11:06 | 2964344 EscapeKey
EscapeKey's picture

Look at all this free oxygen!

Fri, 11/09/2012 - 11:09 | 2964355 HD
HD's picture

 That was funny mate.

Fri, 11/09/2012 - 11:06 | 2964345 Lendo
Lendo's picture

Do they do the polling at a Walmart?

Fri, 11/09/2012 - 11:30 | 2964464 cowdiddly
cowdiddly's picture

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.

Fri, 11/09/2012 - 12:26 | 2964680 Lendo
Lendo's picture

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.

Fri, 11/09/2012 - 11:08 | 2964346 GCT
GCT's picture

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.

Fri, 11/09/2012 - 11:07 | 2964348 LongSoupLine
LongSoupLine's picture

I'm confident that this ia the biggest bullshit indicator out there.  




who's their sample survey...michigan auto union employees?

Fri, 11/09/2012 - 11:20 | 2964426 eatthebanksters
eatthebanksters's picture

California teachers union...

Fri, 11/09/2012 - 11:48 | 2964538 Go Tribe
Go Tribe's picture

Likely to vote Democrats.

Fri, 11/09/2012 - 11:08 | 2964349 adr
adr's picture

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.

Fri, 11/09/2012 - 11:08 | 2964352 Shizzmoney
Shizzmoney's picture

Good placement of the Kool Aid guy..nice.

Fri, 11/09/2012 - 11:09 | 2964353 MFLTucson
MFLTucson's picture

Just ridiculos the fraud that this country is peddling!

Fri, 11/09/2012 - 11:09 | 2964356 Cole Younger
Cole Younger's picture

You have a divided in the hell can consumer confidence rise?

Fri, 11/09/2012 - 11:11 | 2964373 adr
adr's picture

You call a lot of people in Detroit on thier Obamaphones.

Fri, 11/09/2012 - 13:17 | 2964868 SDShack
SDShack's picture

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.

Fri, 11/09/2012 - 11:10 | 2964359 Rainman
Rainman's picture

Just missed the all time high by thiiiiiiisss much !

Fri, 11/09/2012 - 11:10 | 2964360 spastic_colon
spastic_colon's picture

yes and wholesale inventories spun as positive news of course....due to rising inventories of oil and durable goods....because no one is buying!

Fri, 11/09/2012 - 11:10 | 2964362 TideFighter
TideFighter's picture

Mr. KoolAid has no package. I'm confident he is a eunuch. 

Fri, 11/09/2012 - 14:37 | 2965304 Jena
Jena's picture

It's a virus.  Doesn't need equipment.

Fri, 11/09/2012 - 11:10 | 2964363 I Am Not a Copp...
I Am Not a Copper Top's picture

And it's off to the races

Fri, 11/09/2012 - 11:10 | 2964366 Yen Cross
Yen Cross's picture

 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.


Fri, 11/09/2012 - 12:58 | 2964806 ParkAveFlasher
ParkAveFlasher's picture

65 degrees this weekend.  Actually the cold weather was the only thing holding off looters.

Fri, 11/09/2012 - 11:10 | 2964367 q99x2
q99x2's picture

Is someone contesting the election?

Fri, 11/09/2012 - 11:12 | 2964375 JPM Hater001
JPM Hater001's picture

God, but apparently the MSM are ignoring him too these days.

Fri, 11/09/2012 - 11:11 | 2964371 Laughinggrizzley
Laughinggrizzley's picture

"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!"

Fri, 11/09/2012 - 11:11 | 2964372 Miss Expectations
Miss Expectations's picture

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?

Fri, 11/09/2012 - 11:12 | 2964379 dirtyfiles
dirtyfiles's picture

now open your eyes..........

Fri, 11/09/2012 - 11:13 | 2964383 Plausible Denia...
Plausible Deniability's picture

Anyone know if this "index" accounts for the exponential decline in the mental accuity of the populace?

Fri, 11/09/2012 - 11:15 | 2964394 RSBriggs
RSBriggs's picture

Easy - jsut count double posts :)

Fri, 11/09/2012 - 12:26 | 2964421 sodbuster
sodbuster's picture

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.

Fri, 11/09/2012 - 11:13 | 2964384 Plausible Denia...
Plausible Deniability's picture

Anyone know if this "index" accounts for the exponential decline in the mental accuity of the populace?

Fri, 11/09/2012 - 11:21 | 2964431 overmedicatedun...
overmedicatedundersexed's picture

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.

Fri, 11/09/2012 - 11:13 | 2964386 the 300000000th...
the 300000000th percent's picture

How is that even f$cking possible????????

Fri, 11/09/2012 - 11:42 | 2964520 e-recep
e-recep's picture

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.

Fri, 11/09/2012 - 11:15 | 2964392 debtor of last ...
debtor of last resort's picture

It's simple. It's called fiat confidence.

Fri, 11/09/2012 - 11:15 | 2964393 Dr. Engali
Dr. Engali's picture

The new Obama phones must have hit the mailboxes this week.

Fri, 11/09/2012 - 11:16 | 2964396 q99x2
q99x2's picture

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.

Fri, 11/09/2012 - 11:18 | 2964405 Racer
Racer's picture

"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....


Fri, 11/09/2012 - 11:27 | 2964456 bnbdnb
bnbdnb's picture

They found 500 people who could afford using a phone.

Fri, 11/09/2012 - 11:30 | 2964465 overmedicatedun...
overmedicatedundersexed's picture

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.

Fri, 11/09/2012 - 11:17 | 2964408 Silverhog
Silverhog's picture

Consumer Confidence board should get a spot on the Jay Leno Show.

Fri, 11/09/2012 - 11:18 | 2964413 buzzsaw99
buzzsaw99's picture

I am highly confident that I won't be buying squat for xmas.

Fri, 11/09/2012 - 11:19 | 2964418 TahoeBilly2012
TahoeBilly2012's picture

Hookers and crack indicator just jumped highest in eleventeen years...

Fri, 11/09/2012 - 11:20 | 2964423 The Gooch
The Gooch's picture

I am confident I will be visiting the coin shop and ammo depot

this weekend. Same as last weekend and the one before.

Fri, 11/09/2012 - 11:21 | 2964432 earnyermoney
earnyermoney's picture

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


Fri, 11/09/2012 - 11:25 | 2964441 MilleniumJane
MilleniumJane's picture

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.

Fri, 11/09/2012 - 11:24 | 2964443 OMG
OMG's picture

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 

Fri, 11/09/2012 - 11:24 | 2964444 tooriskytoinvest
Fri, 11/09/2012 - 11:25 | 2964448 petolo
petolo's picture

I thought it was Colorado where they legalised Marijuana?

Fri, 11/09/2012 - 11:26 | 2964452 Waterfallsparkles
Waterfallsparkles's picture

They must be polling all of the Obama phone people.

Fri, 11/09/2012 - 11:31 | 2964469 surf0766
surf0766's picture

False Flag

Fri, 11/09/2012 - 11:33 | 2964475 Lord Drek
Lord Drek's picture

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.

Fri, 11/09/2012 - 11:34 | 2964478 tahoebumsmith
tahoebumsmith's picture

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...

Fri, 11/09/2012 - 11:37 | 2964498 overmedicatedun...
overmedicatedundersexed's picture

tahoe, this is about confidence at new are a downer a real hater i get with the program.

Fri, 11/09/2012 - 12:23 | 2964659 JR
JR's picture

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:

LOS ANGELES (AP) — Democrats gained a two-thirds majority in the California Senate following Tuesday's election, bringing them close to the ability to pass tax increases without the need for Republican votes.

However, Democratic Gov. Jerry Brown quickly cautioned that he already has pledged to take any further tax hikes to voters, as he did with the temporary tax increases that voters approved on Tuesday. And Democrat leaders in both the Senate and Assembly downplayed the idea that they would seek to further ratchet up tax rates...

Democrats will control at least 27 seats in the 40-member Senate and are closing in on the two-thirds margin in the Assembly as well…

...Democrats will inevitably face increased pressure from public employee unions, teacher unions and other core constituencies now that they are on the verge of gaining total control of the Legislature as well as the governor's office, said San Jose State University political science professor Larry Gerston

But Brown said at a Sacramento news conference that it is his role to make sure legislative members of his own party do not overindulge. He said he will ensure that California does not spend beyond its means.

"The desires will always outrun the available money," Brown said. "I always like to think with greater power comes greater responsibility."

He hedged when asked directly if he would veto a tax increase if the Legislature sent him one.

Read more: 

Fri, 11/09/2012 - 11:37 | 2964479 Ness.
Ness.'s picture

'When asked specifically about prospective changes in the national

unemployment rate, consumers held the most favorable prospects since 1984.'





Fri, 11/09/2012 - 11:35 | 2964484 Translational Lift
Translational Lift's picture

Makes sense to me,,,,,,,,,,,,Don't they coordinate with the BLS??!!

Fri, 11/09/2012 - 11:42 | 2964517 ziggy59
ziggy59's picture

Im confident there is one letter too many in BLS

Fri, 11/09/2012 - 11:37 | 2964495 JailBank
JailBank's picture

I'm confident this report is B.S.

Fri, 11/09/2012 - 11:38 | 2964496 JR
JR's picture

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:

Fri, 11/09/2012 - 11:37 | 2964500 ebworthen
ebworthen's picture

Highest consumer sentiment since July 2007.

Wasn't that about when the Depression started?

Fri, 11/09/2012 - 11:41 | 2964510 ziggy59
ziggy59's picture

A father telling a story to his daughter.."And the sheep population continued their bleating even as they were led to slaughter..."

Fri, 11/09/2012 - 11:44 | 2964525 falak pema
falak pema's picture

artificial stimulus can provoke fake orgasms. Consumer Sally meets Market Harry.

Fri, 11/09/2012 - 11:46 | 2964531 whoopsing
whoopsing's picture

....Only dimly aware of a certain unease in the air....

Fri, 11/09/2012 - 11:46 | 2964535 Jake88
Jake88's picture

Bullish bitchez!

Fri, 11/09/2012 - 11:51 | 2964552 the grateful un...
the grateful unemployed's picture

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.

Fri, 11/09/2012 - 12:52 | 2964789 JR
JR's picture

John Williams of 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 

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

Fri, 11/09/2012 - 15:18 | 2965534 the grateful un...
the grateful unemployed's picture

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.

Fri, 11/09/2012 - 19:23 | 2966523 JR
JR's picture

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.

Fri, 11/09/2012 - 13:01 | 2964818 Iconoclast
Iconoclast's picture

Good points well made...

Fri, 11/09/2012 - 11:54 | 2964555 Quinvarius
Quinvarius's picture

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.

Fri, 11/09/2012 - 11:53 | 2964557 markar
markar's picture

Should be renamed" confidence game survey". the mass layoffs taking place should fix that in no time

Fri, 11/09/2012 - 12:14 | 2964635 marcusfenix
marcusfenix's picture

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?

Fri, 11/09/2012 - 13:00 | 2964816 Iconoclast
Iconoclast's picture

Love it, the kool aid guy is pissed on too much kool aid..

Fri, 11/09/2012 - 13:10 | 2964854 jomama
jomama's picture

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?

Fri, 11/09/2012 - 13:24 | 2964898 Iconoclast
Iconoclast's picture

Maybe it's one last blow out before dec 21st? :-o Just sayin...

Fri, 11/09/2012 - 13:19 | 2964877 Vince Clortho
Vince Clortho's picture

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.

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