Consumer Confidence Drops, Back To April 2012 Levels

Tyler Durden's picture




 

The final print for UMich Consumer Confidence beat expectations but that is about the best anyone can hope to glean from it. A slight improvement from the preliminary April data, the current and outlook economic indices both dropped for the first time this year and it has now been four months of no change year-over-year in this important sentiment indicator as today's measure of 'happiness' is exactly the same as that of April 2012. Perhaps US consumer are the most confident because their personal savings are now the lowest they have been in the past five years.

 

4 beats in a row but the first drop of the year...

 

As Sentiment has stgnated for four months...

 

with personal savings rates plunging...

 

Charts: Bloomberg

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Fri, 04/26/2013 - 10:12 | 3502185 Dr. Richard Head
Dr. Richard Head's picture

More martial law sweeps and house searches, now in Oakland, sure help my confidence - http://www.ktvu.com/news/news/crime-law/fbi-local-police-conducting-massive-sweep-oakland/nXXKw/

Fri, 04/26/2013 - 10:19 | 3502211 Bearwagon
Bearwagon's picture

If you are that confident, what are you waiting for? Drive the truck over to the mall and CONSUME! Yea!

Fri, 04/26/2013 - 10:58 | 3502370 The Juggernaut
The Juggernaut's picture

How are the American people turning a blind eye to this?

http://www.ktvu.com/news/news/crime-law/fbi-local-police-conducting-mass...

Fri, 04/26/2013 - 11:41 | 3502559 azzhatter
azzhatter's picture

Geez, there is so much to be confident about. You know Forward!

Fri, 04/26/2013 - 10:20 | 3502216 dick cheneys ghost
dick cheneys ghost's picture

thats fricked up.......things are coming to a head, and fast

Fri, 04/26/2013 - 10:21 | 3502224 Bearwagon
Bearwagon's picture

And ain't it about time?

Fri, 04/26/2013 - 10:25 | 3502247 smlbizman
smlbizman's picture

another unintended result from the metal smashers.....mines shutting down due to gold prices to low

http://www.kxlh.com/news/drumlummon-mine-will-stop-operating-layoffs-ann...

Fri, 04/26/2013 - 10:26 | 3502253 fonzannoon
fonzannoon's picture

I wonder if that is unintended.

Fri, 04/26/2013 - 10:33 | 3502271 Jekyll_n_Hyde_Island
Jekyll_n_Hyde_Island's picture

Ken Langone is dropping the hammer right now on Bloomberg.  It might be worth watching.  Topic is Generational robbery through FED policy.

Fri, 04/26/2013 - 10:54 | 3502360 ParkAveFlasher
ParkAveFlasher's picture

Price floorz, bitchez.

Fri, 04/26/2013 - 10:22 | 3502229 Bastiat
Bastiat's picture

I wouldn't be surprised if they have warrants. The situation in Oakland is borderline--there's a substantial amount of gang violence and way too few cops. One solution the City uses is to set up meeting with gangsters, cops and community members and tell them that if the violence continues, the gang most responsible will get busted en masse.  I don't know if they get warrants for everyone or what, but it wouldn't surprise me. 

Fri, 04/26/2013 - 10:29 | 3502262 Dr. Richard Head
Dr. Richard Head's picture

I am sure there are warrants for a few of the suspects, but also assume the police are searching everyone and sweeping from house to house. What else is the stassi supposed to do with all of their toys now that Occupy was crushed? https://www.google.com/search?q=oakland+militarized+police&hl=en&tbm=isch&tbo=u&source=univ&sa=X&ei=E496UYTVE4fyqQGel4CICg&ved=0CDQQsAQ&biw=1440&bih=770

Fri, 04/26/2013 - 10:56 | 3502357 Dr. Richard Head
Dr. Richard Head's picture

Thanks.  I just wonder what was omitted in this.  There is no greater lie than the one of omission.  Mission creep makes me pissy.

Fri, 04/26/2013 - 11:04 | 3502403 Bastiat
Bastiat's picture

I am with you on the militarization of police generally and horrified at the action in Watertown.  The situation in Oakland on the other hand is a matter of community policy rather than rogue cops.  Kind of like setting boundaries for bad boys.  Here's another Oakland story from today:  http://www.sfgate.com/news/crime/article/Woman-shot-killed-in-front-of-c...

Fri, 04/26/2013 - 10:25 | 3502245 Vashta Nerada
Vashta Nerada's picture

I suppose since they ignore the second amendment, they feel confident to ignore the fourth as well.

Fri, 04/26/2013 - 10:13 | 3502187 PontifexMaximus
PontifexMaximus's picture

Bullish!

Fri, 04/26/2013 - 10:17 | 3502197 aint no fortuna...
aint no fortunate son's picture

savings? who needs savings when you have Mastercard?

Fri, 04/26/2013 - 10:21 | 3502228 centerline
centerline's picture

What do you mean I am out of money? I still have checks!

Fri, 04/26/2013 - 10:18 | 3502215 xtop23
xtop23's picture

All we need is a war and we'll have 95% of the dipshit masses doing backflips in no time.

Kissinger 2016 !

Fri, 04/26/2013 - 10:25 | 3502235 Bastiat
Bastiat's picture

Is that when they take a headshot?

Fri, 04/26/2013 - 10:43 | 3502272 xtop23
xtop23's picture

"Headshot" is no longer PC. Big Brother has issued a directive indicating that henceforth the term, "puppy", shall be substituted.

You saw the Boston "USA" chanting, just like I did, as they watched their 4th Amendment rights go right out the gd window. 

 

Fri, 04/26/2013 - 10:54 | 3502366 DosZap
DosZap's picture

Oh!!!!!!!!!, but the GDP rate grew 2.5%, and we are only at 105% of GDP.Funny how they believe their lies.

Fri, 04/26/2013 - 10:26 | 3502190 Cursive
Cursive's picture

Some politician or social luminary could really make a name for himself/herself if they pulled a Howard Beale right now.

ETA: Dylan Ratigan kinda did it, then he kinda undid it.  Where is he now?

 

ETA2:  Found this:

Dylan is currently Partner and Director of National Development for ArchisAcres LLC, a veteran-led, organic hydroponic farming network that uses 90% less water and produces 3 times as much produce as traditional farms. ArchisAcres is part of a larger project for Dylan to invest his time and money in enterprises that create good American jobs and resolve core community challenges of food, energy, health, learning and infrastructure.

Fri, 04/26/2013 - 10:29 | 3502252 1100-TACTICAL-12
1100-TACTICAL-12's picture

100 lbs each of beans and rice for each member of you family, will give you a little more confidence.

Fri, 04/26/2013 - 10:17 | 3502200 Smegley Wanxalot
Smegley Wanxalot's picture

Everyone'll be more confident once our taxes are raised drastically, healthcare is run with the efficiency one expects from the government, and everyone is forced to buy whatever congress orders them too.

Fri, 04/26/2013 - 10:17 | 3502202 mercenaryomics
mercenaryomics's picture

Well, can't save at ZIRP, and especially not when your Healthcare premiums, your kids college tuition and your tax bill all punish you. 

Fri, 04/26/2013 - 10:19 | 3502208 Temporalist
Temporalist's picture

This is a simple fix.  Just give the consumers a free back rub or makeover at the mall and confidence will soar.

Or maybe just put some more people screaming "USA!  USA!" on television that will solve most problems with those negative ninnies.

Fri, 04/26/2013 - 10:19 | 3502209 docj
docj's picture

Evidently, nobody ever went broke underestimating the intelligence of the American Sheeple.

And also evidently, nobody ever will.

Fri, 04/26/2013 - 10:17 | 3502210 yogibear
yogibear's picture

Soon enough it will be annouced the US dollar is no longer the reserve currency.

Fri, 04/26/2013 - 10:17 | 3502212 uno
uno's picture

only certainty is quality of life in USA is going down every day

Fri, 04/26/2013 - 10:18 | 3502213 Dollar Bill Hiccup
Dollar Bill Hiccup's picture

I'm as happy as a lark, very confident ... wait a second, that must be the SNAP recruiter at my door. Sign me up, gotta go!

Fri, 04/26/2013 - 10:20 | 3502214 LoneStarHog
LoneStarHog's picture

As a consumer, I am CONFIDENT that the University of Michigan Consumer Confidence Survey is BULLSHIT!

Fri, 04/26/2013 - 10:21 | 3502227 Temporalist
Temporalist's picture

Who do they question about their "confidence"?  Are they polling a bunch of people at a mall who just ate 6 Cinnabons and a half gallon of Starbucks caramel macchiato? 

Fri, 04/26/2013 - 10:19 | 3502220 ekm
ekm's picture

That's what happens when COSTS ARE INCLUDED INTO THE GDP CALCULATION.

 

People will be OBLIGATED to buy basic food and commodities at higher price.

QE = Depression

 

 

Fri, 04/26/2013 - 10:22 | 3502230 Temporalist
Temporalist's picture

EBT = Free

Fri, 04/26/2013 - 10:40 | 3502307 ekm
ekm's picture

Nothing is for free.

Somebody else is paying for it = middle class

Fri, 04/26/2013 - 10:24 | 3502241 LawsofPhysics
LawsofPhysics's picture

And when 100% of their wage won't cover it (even with EBT), the "official" market dies, and so does the government control and EBT.  Bring it!!

Fri, 04/26/2013 - 10:42 | 3502304 ekm
ekm's picture

Correct, extremely correct

Fri, 04/26/2013 - 10:25 | 3502233 kragsquest
kragsquest's picture

ANOTHER REASON TO BUY PRECIOUS METAL SPECIE WITH BOTH HANDS, COIN SHOPS ARE QUICKLY RUNNING OUT OF INVENTORY AND RAISING THEIR PREMIUMS EVEN HIGHER!!!

Fri, 04/26/2013 - 10:31 | 3502263 MilleniumJane
MilleniumJane's picture

A friend went to the local coin shop and was astounded to learn that the owner is charging $32.00 an ounce.  He was bitching about this to my husband yesterday and said he didn't buy any shiny.  I say, a sale's a sale, get what you can, while you can.

Fri, 04/26/2013 - 10:25 | 3502234 LawsofPhysics
LawsofPhysics's picture

Ask yourself one question, what has happened to the average wage of these "customers".  Go ahead, you can even include SNAP if you like.

Fri, 04/26/2013 - 10:26 | 3502242 Bastiat
Bastiat's picture

PMs in launch mode--an OPEX to remember.

Fri, 04/26/2013 - 10:30 | 3502258 rsnoble
rsnoble's picture

The comment 'the stock market is all that matters' actually means it's too hard for the criminals in DC to continue their charade when it all comes crashing down.

Fri, 04/26/2013 - 10:30 | 3502259 MFLTucson
MFLTucson's picture

More good news on Obamas performance!

Fri, 04/26/2013 - 10:31 | 3502270 Glass Seagull
Glass Seagull's picture

 

 

I'm scared because I buy...

I buy because I'm scared...

Fri, 04/26/2013 - 10:35 | 3502284 orangegeek
orangegeek's picture

Consumers mean fuck all.

 

The guberment does all the buying that is required to make these markets go up.

 

Kaiser Ben and Kaiser Barry.

Fri, 04/26/2013 - 10:39 | 3502289 eclectic syncretist
eclectic syncretist's picture

Holy fuckin batshit Bernanke, another twelve tons of gold disappeared from the COMEX warehouse yesterday!  Guess that when you told Ron Paul that gold is not money JPM was not listening or must be re-evaluating.  Where in the hell is it all going Bernanke, you dumbass.

Fri, 04/26/2013 - 10:42 | 3502317 semperfi
semperfi's picture

Um, I don't think Bernank is a dummasss - you can bet your life some of that gold is going into his and Jamie's and Lloyd's, etc, island fortress private vault.

Fri, 04/26/2013 - 11:31 | 3502521 the grateful un...
the grateful unemployed's picture

pretty sure that gold hasn't gone anywhere, they just don't want to sell it to the public. if you thought that the price of gold might rise in multiples would you put yours up for sale at the current [low] price? i am sure Bernanke gave him the heads up, he doesn't want to see a lot of fiat currency being changed into gold, that destroys money velocity because it takes money out of circulation, the same as hording cash. 

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