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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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment azzhatter
azzhatter's picture

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

Fri, 04/26/2013 - 10:20 | Link to Comment 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 | Link to Comment Bearwagon
Bearwagon's picture

And ain't it about time?

Fri, 04/26/2013 - 10:25 | Link to Comment 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 | Link to Comment fonzannoon
fonzannoon's picture

I wonder if that is unintended.

Fri, 04/26/2013 - 10:33 | Link to Comment 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 | Link to Comment ParkAveFlasher
ParkAveFlasher's picture

Price floorz, bitchez.

Fri, 04/26/2013 - 10:22 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment PontifexMaximus
PontifexMaximus's picture

Bullish!

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

savings? who needs savings when you have Mastercard?

Fri, 04/26/2013 - 10:21 | Link to Comment centerline
centerline's picture

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

Fri, 04/26/2013 - 10:18 | Link to Comment 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 | Link to Comment Bastiat
Bastiat's picture

Is that when they take a headshot?

Fri, 04/26/2013 - 10:43 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment uno
uno's picture

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

Fri, 04/26/2013 - 10:18 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Temporalist
Temporalist's picture

EBT = Free

Fri, 04/26/2013 - 10:40 | Link to Comment ekm
ekm's picture

Nothing is for free.

Somebody else is paying for it = middle class

Fri, 04/26/2013 - 10:24 | Link to Comment 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 | Link to Comment ekm
ekm's picture

Correct, extremely correct

Fri, 04/26/2013 - 10:25 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment Bastiat
Bastiat's picture

PMs in launch mode--an OPEX to remember.

Fri, 04/26/2013 - 10:30 | Link to Comment 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 | Link to Comment MFLTucson
MFLTucson's picture

More good news on Obamas performance!

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

 

 

I'm scared because I buy...

I buy because I'm scared...

Fri, 04/26/2013 - 10:35 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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 | Link to Comment 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. 

Fri, 04/26/2013 - 10:41 | Link to Comment semperfi
semperfi's picture

Of all the stats, this is the most repulsive.  First, its propaganda.  Second, its based on a survey of morons who couldn't find their butt with both hands let alone really be able to discern the current state of the ecomony/nation.  Third, its labels us as "consumers" which to me is a grand insult, and equates to 'debt serf', right to where the Global Bankster Syndicate steers the moron sheeple.

Fri, 04/26/2013 - 10:42 | Link to Comment Inthemix96
Inthemix96's picture

I am supremely confident that the fucking idiots that got us into this mess will be as fucking stupid, and down right fucking clueless tomorrow as they are today, and as stupider as they were yesterday.

These fucking swines couldnt tell an arse from an elbow.  And to be fair to all politicians, no matter where they are from, they are all thieving fucking yes men who would screw their own mother twice for a quick buck.

Cunts, the fucking lot of them.  Confidence my right tit.

Fri, 04/26/2013 - 10:45 | Link to Comment semperfi
semperfi's picture

Cunts yes. Idiots, no. Let's just call them "savvy" cunts.

Fri, 04/26/2013 - 10:54 | Link to Comment Inthemix96
Inthemix96's picture

Sorry mate,

I have had direct dealings with my 'Right Honourable Gentleman', and he is thick as pigs shit.  In fact I would go as far to say my 12 year old son is more clued up than this imbecile.  They really are idiots mate.

And to top it off they dont give a shit as long as they get theirs.  Fuckers.

Fri, 04/26/2013 - 10:45 | Link to Comment Prisoners_dilemna
Prisoners_dilemna's picture

Consumer confidence by UMich is determined how?

CC looks like noise.
The personal savings rate is the signal.

Fri, 04/26/2013 - 10:52 | Link to Comment SheepDog-One
SheepDog-One's picture

You damn filthy consumers....GET BACK ON THOSE OARS AND ROW DAMMIT!!!

Fri, 04/26/2013 - 11:07 | Link to Comment MilleniumJane
MilleniumJane's picture

Ow, that whip bites!  They blame the consumers, the sales reps, the weather...I can't wait to hear who/what is the next whipping boy.  Bunch o' scoundrels, they are.

Fri, 04/26/2013 - 11:22 | Link to Comment the grateful un...
the grateful unemployed's picture

Beatings will continue until Morale Improves .. old saying

Beatdowns of Savers to continue until Consumers open a new credit line on their home equity.... Fed directive 1.a

Fri, 04/26/2013 - 10:56 | Link to Comment the grateful un...
the grateful unemployed's picture

 

From the Associated Propaganda Network, with comments from CNBC anchors

April 26, 2013, (end every other day for that matter) 5:51 a.m.

 

WASHINGTON -- U.S. economic growth accelerated from January through March, buoyed by the strongest consumer spending in more than two years. The strength offset further declines in government spending. [Despite the fact that the private sector came roaring back, the stock market is off its highs for the day, but maybe Bob Pisani can explain that.] ....that are expected to drag on growth throughout the year.

The Commerce Department said Friday that the overall economy expanded at an annual rate of 2.5 percent in the first quarter, rebounding from the anemic 0.4 percent growth rate in the October-December quarter. Much of the gain reflected a jump in consumer spending, which rose at an annual rate of 3.2 percent. That's the best since the end of 20 1910.[Don't worry we'll redact that from the official version.]

Businesses responded to the greater demand by rebuilding their stockpiles. And home construction rose further. [Home construction is on fire. Home prices are rising, and mortgage rates are low. Everyone qualifies, if you have to do a short sale we can have you back in the home market in two years, without a down. This is the Home Ownership Society, isn't it Bob?. Yes Maria, but on the news the stock market is taking profits, having anticipated this bullish set of events you have to surmise they will be back Monday.]

Stay Classy America
Fri, 04/26/2013 - 11:57 | Link to Comment Son of Loki
Son of Loki's picture

As long as they keep handing out zero down cars...zero down houses...and so on, it's no wonder people have no confidence...they can't afford this stufff, have almost no savings and so on.

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