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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 | 3166075 GetZeeGold
GetZeeGold's picture

 

 

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

Fri, 01/18/2013 - 11:07 | 3166080 ihedgemyhedges
ihedgemyhedges's picture

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

Fri, 01/18/2013 - 11:08 | 3166085 spastic_colon
spastic_colon's picture

and the bullish info just keeps comin' /s

Fri, 01/18/2013 - 11:15 | 3166116 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 | 3166159 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 | 3166293 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 | 3166078 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 | 3166092 economics9698
economics9698's picture

Billions and billions.

Fri, 01/18/2013 - 11:07 | 3166079 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 | 3166081 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 | 3166104 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 | 3166222 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 | 3166366 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 | 3166086 nobusiness
nobusiness's picture

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

Fri, 01/18/2013 - 11:08 | 3166087 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 | 3166089 LongSoupLine
LongSoupLine's picture

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

 

 

fuck you MSM.

Fri, 01/18/2013 - 11:09 | 3166090 Falconsixone
Falconsixone's picture

I'm not sure of confidence.

Fri, 01/18/2013 - 11:09 | 3166091 StoleYourMoney
StoleYourMoney's picture

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

Fri, 01/18/2013 - 11:12 | 3166093 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 | 3166099 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 | 3166102 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 | 3166118 HD
HD's picture

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

Fri, 01/18/2013 - 11:31 | 3166196 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 | 3166247 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 | 3166281 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 | 3166305 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 | 3166353 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 | 3166109 SheepDog-One
SheepDog-One's picture

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

Fri, 01/18/2013 - 11:22 | 3166138 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 | 3166261 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 | 3166611 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 | 3166119 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 | 3166132 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 | 3166168 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 | 3166238 saints51
saints51's picture

hopium...

Fri, 01/18/2013 - 11:20 | 3166133 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 | 3166231 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 | 3166134 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 | 3166149 MFLTucson
MFLTucson's picture

Wont last, let these idiots have their fun!

Fri, 01/18/2013 - 11:22 | 3166143 MFLTucson
MFLTucson's picture

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

Fri, 01/18/2013 - 11:23 | 3166151 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 | 3166170 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 | 3166167 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 | 3166174 moneybots
moneybots's picture

And indicators.

Fri, 01/18/2013 - 11:30 | 3166193 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 | 3166482 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 | 3166549 Never One Roach
Never One Roach's picture

"No one saw this coming."

Fri, 01/18/2013 - 17:09 | 3167420 thismarketisrigged
thismarketisrigged's picture

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

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