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Consumer Confidence Plunges To December 2011 Levels, Biggest Miss To Expectations In 7 Years

Tyler Durden's picture





 

Yesterday, UBS' Maury Harris released a naive note titled "UofM confidence bounce after tax deal?" which we did not understand: would the bounce be on the ongoing depression, the uncertainty over the debt ceiling, the fate of the sequester and coming spending cuts, the manipulated market which just saw a $610 million reserve injection via repo to be followed by another $1.5 liquidity injection via POMO, or the fact that everyone is now paying more taxes in 2013? Turns out the confusion was irrelevant as the preliminary January UMichigan consumer confidence number just printed at 71.3, far below the December final 72.9, and the biggest miss to expectations in seven years. It was also the lowest print since November 2011. And of course, the reaction of the central bankers' soapbox formerly known as the "market" is.... up.

 


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Fri, 01/18/2013 - 11:05 | Link to Comment GetZeeGold
GetZeeGold's picture

 

 

I dunno.....things seem to be looking up.

Fri, 01/18/2013 - 11:07 | Link to Comment ihedgemyhedges
ihedgemyhedges's picture

Damned Wolverines...................

Fri, 01/18/2013 - 11:08 | Link to Comment spastic_colon
spastic_colon's picture

and the bullish info just keeps comin' /s

Fri, 01/18/2013 - 11:15 | Link to Comment Rainman
Rainman's picture

Now you don't have to wait to have 20 bucks in your checking account to make an ATM withdrawal. Things are looking up !

 http://www.myfoxal.com/story/20613508/new-atm-dispenses-1-5-bills

Fri, 01/18/2013 - 11:25 | Link to Comment IridiumRebel
IridiumRebel's picture

Withdrawing my last 6 bucks for food for the next three days only to place me in the red by the $2.50 "convenience" charge that will compound with penalties and over draft fees.

Fri, 01/18/2013 - 12:21 | Link to Comment CheapBastard
CheapBastard's picture

<<.things seem to be looking up>>

Yes. it's odd they should feel so down. MSM says things are wonderful and they finally fixed the SNAP/EBT snafu in California....and Barry passed a comprehensive gun control law that should wipe crime off the streets for good...and so on.,.....

Fri, 01/18/2013 - 11:07 | Link to Comment dick cheneys ghost
dick cheneys ghost's picture

How many lies does it take to maintain a PONZI system like this??

Fri, 01/18/2013 - 11:10 | Link to Comment economics9698
economics9698's picture

Billions and billions.

Fri, 01/18/2013 - 11:07 | Link to Comment IridiumRebel
IridiumRebel's picture

<--------green shoots

<--------brown shits

 

Recovery, Bitchez!

This is what the sweet smell of success feels like......canned Walmart foods and sifting through all of your stuff so you can see what you can live without by selling for 60% less on craigslist.

Fri, 01/18/2013 - 11:07 | Link to Comment Gmpx
Gmpx's picture

I have a question. USD, EUR, GBP seems to be doomed. Which fiat currency can survive? AUD?

Fri, 01/18/2013 - 11:12 | Link to Comment 1eyedman
1eyedman's picture

you'll need to ask the grocery store where you shop what forms of payment they will accept.  only 2nd and 3rd world countries are used to dealing in multiple currencies.   in ussa, the only sheeple to survive are the ones who can adapt the quickest

Fri, 01/18/2013 - 11:36 | Link to Comment saints51
saints51's picture

None. Its not intended to last forever. The system is designed to pillage the country's government and people until all wealth and resources are transferred to the select few. Then civil unrest occurs and these parasites offer a new solution. The game starts over again.

Fri, 01/18/2013 - 12:15 | Link to Comment Falconsixone
Falconsixone's picture

Teach your tribe to kill all hook nose new comers that want to sit on their ass and tell you how you could make something called money so you didn't have to do anything either.

Fri, 01/18/2013 - 11:08 | Link to Comment nobusiness
nobusiness's picture

We don't need no stinking confident consumers, we have BEN

Fri, 01/18/2013 - 11:08 | Link to Comment Snakeeyes
Snakeeyes's picture

Similar to Bloomberg consumer comfort. Can you spell jobs and taxes?

http://confoundedinterest.wordpress.com/2013/01/18/poverty-in-the-usa-an...

Fri, 01/18/2013 - 11:09 | Link to Comment LongSoupLine
LongSoupLine's picture

but, but...the fucking "market"!!!

 

 

fuck you MSM.

Fri, 01/18/2013 - 11:09 | Link to Comment Falconsixone
Falconsixone's picture

I'm not sure of confidence.

Fri, 01/18/2013 - 11:09 | Link to Comment StoleYourMoney
StoleYourMoney's picture

It's just a survey. I choose to trade on distorted hard data!

Fri, 01/18/2013 - 11:12 | Link to Comment HD
HD's picture

The street ALWAYS dismisses a poor CC number as unreliable and embraces a good number as gospel truth...

Fri, 01/18/2013 - 11:11 | Link to Comment Dr. Engali
Dr. Engali's picture

Maybe Ben should start POMOing people's taxes. That'll lift some consumer spirits.

Fri, 01/18/2013 - 11:11 | Link to Comment Silverhog
Silverhog's picture

You can imagine what the confidence number would be here in wonderful Massachusetts with a brain dead governor announcing a huge new Tax hike plan. I gotta move soon. 

Fri, 01/18/2013 - 11:15 | Link to Comment HD
HD's picture

It may not matter where you move - the tax man cometh.

Fri, 01/18/2013 - 11:31 | Link to Comment Bad Attitude
Bad Attitude's picture

Come to Texas. No state income tax, a business friendly regulatory environment, and you can keep your guns and "high capacity" magazines.

Fri, 01/18/2013 - 11:42 | Link to Comment Falconsixone
Falconsixone's picture

What about the 1000ft. tsunami (used to be tidal wave)? What's your elevation there?

Fri, 01/18/2013 - 11:50 | Link to Comment Silverhog
Silverhog's picture

I'm 70 feet above sea level, better than most of Florida. But I will probably starve to death or killed by liberal brain eating zombies before a tsunami hits. 

Fri, 01/18/2013 - 11:56 | Link to Comment Falconsixone
Falconsixone's picture

lol... http://www.texasmaps.us/texas-elevation-map.html

 

Get yourself a carbon fiber weave ax that floats and you'll be fine.

Fri, 01/18/2013 - 12:11 | Link to Comment Falconsixone
Falconsixone's picture

Geez, I hope China starts making floating carbon fiber weave ax's now for cheap.

 

Is it time for Jack Daniels yet....gotta support the team.

Fri, 01/18/2013 - 11:14 | Link to Comment SheepDog-One
SheepDog-One's picture

All data has now gone full-blown manic/depressive.

Fri, 01/18/2013 - 11:22 | Link to Comment Everybodys All ...
Everybodys All American's picture

Would it be ok if Obamao sent a picture of himself that you could display to chear you up?

Fri, 01/18/2013 - 11:45 | Link to Comment SheepDog-One
SheepDog-One's picture

Such as that 'before/after' melded pic, which says in another 4 years he will look old as Moses?

Fri, 01/18/2013 - 13:22 | Link to Comment Miffed Microbio...
Miffed Microbiologist's picture

Yes it would. I need a new target at the shooting range. Zombies are getting boring. Hmmm... Maybe I should put the camo back on the house.

Miffed:-)

Fri, 01/18/2013 - 11:21 | Link to Comment dwdollar
dwdollar's picture

We are noticing some heightened agitation out here with the plebes... not sure why though. Nothing new really. Maybe the anti-gun propaganda is finally getting to them.

It may be the higher taxes. The dumb-fucks finally realize they've been bent over again.

Fri, 01/18/2013 - 11:20 | Link to Comment Temporalist
Temporalist's picture

Jonathan Alter has written a piece on Doomborg about how awesome Obama is and how his first term was so successful his second is likely to really make you get tingly feelings in your nether regions.

*Warning!  The article was written by a demented sycophant whose head is so far up the president's ass from kissing it he's built a permanent residence in his colon (tax free)

(I refuse to share the link as I will not be responsible for making ZHers sick from the sheer volume of shit being slung in the piece)

Fri, 01/18/2013 - 11:26 | Link to Comment pods
pods's picture

Does he mention the drugs he is taking?

You know, just for information purposes.

pods

Fri, 01/18/2013 - 11:40 | Link to Comment saints51
saints51's picture

hopium...

Fri, 01/18/2013 - 11:20 | Link to Comment insanelysane
insanelysane's picture

Just got a tax hike from Feds in Soc Security.  Now Massaataxaachusetts is going to raise income taxe 1%.  That is a 3% cut and then throw REAL INFLATION on top and we are looking at a min of 10% decrease in income.

Fri, 01/18/2013 - 11:38 | Link to Comment Bad Attitude
Bad Attitude's picture

That is what "Hope and Change" (or was it "Forward?") will do for you. Drink some kool-aid, then you will enjoy it.

Fri, 01/18/2013 - 11:21 | Link to Comment moneybots
moneybots's picture

 "And of course, the reaction of the central bankers' soapbox formerly known as the "market" is.... up."

 

All things are possible- through financial fraud.

Fri, 01/18/2013 - 11:23 | Link to Comment MFLTucson
MFLTucson's picture

Wont last, let these idiots have their fun!

Fri, 01/18/2013 - 11:22 | Link to Comment MFLTucson
MFLTucson's picture

Nothing new here, we all knew the reports at election time were a fraud!

Fri, 01/18/2013 - 11:23 | Link to Comment Spastica Rex
Spastica Rex's picture

It's almost like these statistics and metrics don't really tell you anything - like they're not connected to reality in any discernible way.

Fri, 01/18/2013 - 11:26 | Link to Comment Temporalist
Temporalist's picture

Reality.  Why do you want reality when there is a huge market for hopium?  It's America's best selling product.

Fri, 01/18/2013 - 11:26 | Link to Comment moneybots
moneybots's picture

The stock market was supposed to be a leading indicator.  Housing had crashed, oil was high, a recession was coming, yet the market ignored the future until two months before the start of the recession.  In 2001, the recession was over in November, yet the market continued to go down until October 2002.  The market was well over a year late in leading the economy.

 

Financial fraud distorts markets.

Fri, 01/18/2013 - 11:27 | Link to Comment moneybots
moneybots's picture

And indicators.

Fri, 01/18/2013 - 11:30 | Link to Comment busted by the b...
busted by the bailout's picture

Irrelevant. 

Who needs consumers or retail investors when we got algos, HFT, and Ben to generate the flow!

Fri, 01/18/2013 - 12:45 | Link to Comment donkshover
donkshover's picture

I got a flyer from the CU ... $100 cash if i re financed my car loan.... I dont understand- people live like this?

Fri, 01/18/2013 - 13:03 | Link to Comment Never One Roach
Never One Roach's picture

"No one saw this coming."

Fri, 01/18/2013 - 17:09 | Link to Comment thismarketisrigged
thismarketisrigged's picture

what a joke, when is this nonsense going to end?

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