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Michigan Confidence Soars To Highest Since 2007, Biggest Beat Of Expectations On Record

Tyler Durden's picture





 

In a day devoid of any A-grade economic data, the stop hunting GETCO USDJPY algos had no choice but to look forward to such reflexive C-grade indicators as the UMich Consumer Confidence index, where the polled "consumers" are confident if the market is up and the market is up if "consumers" are confident. Sure enough, the USDJPY literally exploded by over 50 pips and broke the 103 level (send the Yen derivative, the S&P500 spiking) when moments ago the UMich index posted a hilarious reading of 83.7, the highest since August 2007, up from 76.4, and smashing expectations of 77.9 by the most in... ever. Whether this was driven by a near record low in consumer savings, by the collapse in real wages, by the deteriorating Q1 retail results such as WalMart's showing consumers are out of cash, or if all this was irrelevant as everyone on the UMichigan rolodex was long Tesla is unknown. It just is what it is because in a world in which collapsing economic data leads to a record high "market", one buys first, buys second, then BTFD if there is D, and only then are questions asked.

Finally, if there is any confusion if consumer "confidence" tracks the market or the economy, we represent our chart from yesterday showing the now unprecedented divergence between the actual economic metrics and stocks.

 


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Fri, 05/17/2013 - 10:11 | Link to Comment Martdin
Martdin's picture

Markets want the D!

Fri, 05/17/2013 - 10:19 | Link to Comment SHEEPFUKKER
SHEEPFUKKER's picture

The D as in Detroit, Michigan......a very confident place I've heard.

Fri, 05/17/2013 - 10:20 | Link to Comment Stackers
Stackers's picture

2000 Univ of Michigan students are very confident AAPL will have a new i-gadget for them to buy next fall with their student loans

Fri, 05/17/2013 - 10:22 | Link to Comment MillionDollarBonus_
MillionDollarBonus_'s picture

Don't underestimate the wisdom of the average Joe American. Americans are smart, and they know when the economy is growing and when it isn't. People can see the green shoots for themselves. They don't need to listen to ivory tower economists, when they can see new job opportunities and their home equity increase, or when they can refinance their mortgage at a fantastically low interest rate. The American people have spoken: this is a recovery, pure and simple.

Fri, 05/17/2013 - 10:24 | Link to Comment Bearwagon
Bearwagon's picture

Go on. Four hundred thousand repetitions will make it a truth!

Fri, 05/17/2013 - 10:25 | Link to Comment Spastica Rex
Spastica Rex's picture

Four hundred thousand repetitions certainly makes it boring.

Fri, 05/17/2013 - 10:29 | Link to Comment somecallmetimmah
somecallmetimmah's picture

Maybe they ran out of toilet paper?

Fri, 05/17/2013 - 10:37 | Link to Comment Rubbish
Rubbish's picture

I am happy !!! I was able to buy 1,000 rounds of .22 LR

 

wheeeeeeeeee

Fri, 05/17/2013 - 11:25 | Link to Comment jbvtme
jbvtme's picture

anyone hear what the fukushima confidence reading is?

Fri, 05/17/2013 - 13:24 | Link to Comment Ruffcut
Ruffcut's picture

Hitler knew, the bigger the lie, the more people believe it. Our ministers of propaganda use it every chance they get. 

The confidence survey is tethered to the bullshit meter. Great results, everytime!

Fri, 05/17/2013 - 15:28 | Link to Comment crosey
crosey's picture

One Viagra = Big

Two Viagra = Bigger

Three Viagra = POP!

Fri, 05/17/2013 - 10:30 | Link to Comment Keynesian Mess
Keynesian Mess's picture

Because, you know, it is different this time!  They said so, and they wouldn't lie, would they?

Fri, 05/17/2013 - 11:23 | Link to Comment InTheLandOfTheBlind
InTheLandOfTheBlind's picture

go Joe!.... something about knowing is half the battle... blah blah blah..... where's my free shit?

Fri, 05/17/2013 - 10:30 | Link to Comment EmmittFitzhume
EmmittFitzhume's picture

To this market the macro information doesn't matter, buuuut if the consumer confidence from UMich is good then it means everything!  Wow even the algos are programmed with animal spirits logic.

Fri, 05/17/2013 - 10:33 | Link to Comment HalEPeno
HalEPeno's picture

"Democracy is a pathetic belief in the collective wisdom of individual ignorance."

H L Mencken

Fri, 05/17/2013 - 10:42 | Link to Comment Go Tribe
Go Tribe's picture

Let's see the demographics - age, employment, income, race - including political affiliation, of the aggregate respondees. Then we'll know if this is BS or not.

Fri, 05/17/2013 - 11:09 | Link to Comment loonyleft
loonyleft's picture

long time listener, first time caller. 

I think I really understand what MDB says and have to say that he makes a lot of sense and would like to subscribe to his newsletter.

Fri, 05/17/2013 - 11:56 | Link to Comment BeetleBailey
BeetleBailey's picture

Shut up MDB...damn you are an annoying little douche....

 

If you are written by someone satrically....you must be one fucked up individual...

 

If not, the same thing...

 

Either way...you're fucked up

Fri, 05/17/2013 - 15:29 | Link to Comment crosey
crosey's picture

Is that you Benny boy?!

Fri, 05/17/2013 - 10:21 | Link to Comment Bearwagon
Bearwagon's picture

"Take him to Detroit."  ;-)

http://www.youtube.com/watch?v=RKPWPHRiauE

Fri, 05/17/2013 - 10:34 | Link to Comment Jdog
Jdog's picture

yeah! I was gonna say the same thing! Isn't Detroit Michigan going bankrupt? Not only the stock market move higher on all bad data, now confident place in bankruptcy places? lol talk about distortions?

Fri, 05/17/2013 - 10:49 | Link to Comment caconhma
caconhma's picture

Detroit is back. It is a booming. Good times are back again.

What is really needed is another $5T printed by FED. It is all.

Both Clinton and Obama families are planning to retire there.

PS

What are they smoking up there?

Fri, 05/17/2013 - 13:17 | Link to Comment MiltonFriedmans...
MiltonFriedmansNightmare's picture

There's always the "Dead Wings" ....quite apropos,eh?

Fri, 05/17/2013 - 10:21 | Link to Comment ThunderingTurd
ThunderingTurd's picture

JPM raising their price target.  There are no "d's"...ever.  The Dimon forbids it.

Fri, 05/17/2013 - 10:26 | Link to Comment Divided States ...
Divided States of America's picture

Its obvious the USD strength this week is because something is going to happen soon. Dont know what it is but War is most likely as the USD is the safe haven. It wouldnt matter at that time what gold spot price will be because you probably wont be able to buy it anywhere. And the fact that everyone is buying USD, they got to plow it into US stocks because at least they have a dividend over 0.25% interest which is nothing.

Everyone like CNBC can say it is good that the markets are ramping, but there are ominous dark clouds surrounding this silver lining. I hate to say it but its possible that US stocks can keep going higher even in the face of War because people who buy USD for safety will keep plowing into US equities for the extra yield.

Fri, 05/17/2013 - 10:27 | Link to Comment walküre
walküre's picture

Dividends will be decreased and then suspended soon. Companies are scraping the bottom of the barrel.

Fri, 05/17/2013 - 10:29 | Link to Comment fonzannoon
fonzannoon's picture

That is what I said yesterday and I got yelled at. Exactly right. Stocks and Bonds will benefit.

This market is so detached from the economy Tyler is wasting time putting up charts. This is money scrambling for higher ground, or percieved higher ground. The only question is what happens next. Bernak is about to shut off the QE spout because he knows that demand will be temporarily be filled. It's the equity holders that are going to realize they ran the wrong way.

Fri, 05/17/2013 - 10:36 | Link to Comment Divided States ...
Divided States of America's picture

Wow, I didnt see what you wrote yesterday fonz. I came to this thought myself though I have been saying this before but I think the time is near with this sudden USD strength. And I understand that dividends will be cut...but it wont be cut immediately and investors wont get out till the companies actually start cutting. Remember US companies balance sheet, for the most part, has improved as they hoard cash and cut expenses like wages. I am not saying US stocks will go higher forever, I am saying that this detachment between US stocks and the realities of whats going on can go even further than anyone can imagine. I hate saying this myself since I just had a nice slew of put options expire worthless today and some more over the rest of this year....so it pains me to say this.

Fri, 05/17/2013 - 10:43 | Link to Comment fonzannoon
fonzannoon's picture

I hear you. I am looking at this a bit different. I think, from a different view....Stocks, bonds, real estate, art, physical pm's...reflect a global tsunami of money looking for the perception of safety.

 

Fri, 05/17/2013 - 10:50 | Link to Comment Divided States ...
Divided States of America's picture

Basically the prices we see on TV means JACK SHIT anymore...gold at 1360? who the fuck cares what Gold price is right now when all that matters is how much inventory you have stockpiled in 1 to 2 years time when shit hits the fan.

We need people with different views and mindsets to contribute to these weird circumstances these days so I like that you provide a different view to the masse....but its obvious that when things dont make sense, it wont last forever. I am just going to sit back and watch this unfold, no more shorting, no more buying anything into the equity markets. But one thing I will continue to do is to accumulate more physical gold and silver as prices continue to drop.

Fri, 05/17/2013 - 11:40 | Link to Comment Apply Force
Apply Force's picture

I think 1 to 2 years time will be too late - i think big changes are on a closer horizon and physical will have a higher time/labor value generally (dollars, SDR's, whatever) if you can find it or have something worthy of exchange.

I would also guess that more are waking up and spending their green tickets in anticipation of the day-to-day lesser purchasing power - that inspires confidence in me to "spend" my green tickets!!

Fri, 05/17/2013 - 10:12 | Link to Comment Headbanger
Headbanger's picture

And just who did they talk to!?

Fri, 05/17/2013 - 10:29 | Link to Comment EscapeKey
EscapeKey's picture

Not sure, but they probably spent all their money on (Brave New World'esque) soma.

Fri, 05/17/2013 - 10:12 | Link to Comment ThunderingTurd
ThunderingTurd's picture

Here come higher energy prices.  Enjoy...

Fri, 05/17/2013 - 10:13 | Link to Comment Dr. Engali
Dr. Engali's picture

What in the fuck do people in Michigan have to be confident about? I guess if you hit rock bottom there is only one way to go.

Fri, 05/17/2013 - 10:23 | Link to Comment Dr. Engali
Dr. Engali's picture

After the light house then one can go visit some of the friendly neighborhoods:

 

http://www.youtube.com/watch?v=Kem2ceHCtGQ

Fri, 05/17/2013 - 10:25 | Link to Comment fonzannoon
fonzannoon's picture

Doc if what you showed was real they would have included it in my commercial. I'm sure of it.

Fri, 05/17/2013 - 12:10 | Link to Comment RSloane
RSloane's picture

Those neighborhoods were once thriving, well kept areas filled with people with pride in their homes. I simultaneously feel sorry for those people who remain yet know they are the same ones that voted in, for years, a corrupt city government, a corrupt school board, and corrupt city service managers. Hell, there is a group of people now, supposedly city service workers, who are going to Hawaii for a conference. One of the guys is flying first class. They are staying at an internationally first class hotel. Their meal expenses are included and they get a per diem rate on top of it. The city has been corrupt for decades and still is. So while I might feel sorry for them on one hand, on the other I have no sympathy at all.

Fri, 05/17/2013 - 10:29 | Link to Comment EscapeKey
EscapeKey's picture

Well, isn't the fifth stage of grief acceptance?

Fri, 05/17/2013 - 10:32 | Link to Comment fonzannoon
fonzannoon's picture

ask Dick Trickle.

Fri, 05/17/2013 - 11:20 | Link to Comment insanelysane
insanelysane's picture

I actually believe the results.  I think the older (35+) consumer has gotten their finances into manageable order and have stopped buying frivolous crap.  As for the under 35 crowd, why wouldn't they be confident?  Student and auto loans are easy to get and they truly believe that all of their debt will be forgiven.

Fri, 05/17/2013 - 12:04 | Link to Comment BeetleBailey
BeetleBailey's picture

Thought the exact same thing Doc....this "measurement" has been taken over by Hopium as well.....

 

asinine.....

Fri, 05/17/2013 - 10:14 | Link to Comment Agent P
Agent P's picture

Just reinforces what Charles Barkley said, "I don't care what people think.  People are stupid."

Fri, 05/17/2013 - 10:14 | Link to Comment Curt W
Curt W's picture

I am confident that the people are buying this smoke and mirrors charade

Fri, 05/17/2013 - 10:27 | Link to Comment machineh
machineh's picture

Get back to your printing, Ben. 

What have you done for us in the past 30 minutes, anyway?

Fri, 05/17/2013 - 10:14 | Link to Comment Zen Bernanke
Zen Bernanke's picture

UoM is bullshit piled on top of more bullshit. 

Fri, 05/17/2013 - 10:14 | Link to Comment azzhatter
azzhatter's picture

Wealth Effect. Fuck yeah

Fri, 05/17/2013 - 10:14 | Link to Comment vote_libertaria...
vote_libertarian_party's picture

uhhhh....as more phones are disconnected only people with jobs\phones get called???

 

WINNING!

Fri, 05/17/2013 - 10:21 | Link to Comment Headbanger
Headbanger's picture

Bingo!  There's the ansswer for me.

Fri, 05/17/2013 - 10:16 | Link to Comment ziggy59
ziggy59's picture

They obviously are not polling in Michigan...maybe just the hamptons..

Fri, 05/17/2013 - 10:17 | Link to Comment HD
HD's picture

Too bad. If the the CONfidence numbers had been awful we'd be up 2% today.

Fri, 05/17/2013 - 10:30 | Link to Comment EscapeKey
EscapeKey's picture

Give it time.

Fri, 05/17/2013 - 10:18 | Link to Comment jowenchrist
jowenchrist's picture

Still cook'n the books !

Fri, 05/17/2013 - 10:18 | Link to Comment Ness.
Ness.'s picture

The early May rebound in consumer confidence was primarily due to a surge in optimism among upper income households.

Among households with incomes in the top third of the distribution, the Sentiment Index jumped 20.6 Index points compared with a gain of 2.3 Index points among the bottom two-thirds. The early May Sentiment Index among households in the top third reached the highest level since July 2007. High income households posted strong gains in every Index component as well as extraordinary gains in the value of their stock portfolios.

Consumers reported a more favorable assessment of their personal financial situations in early May than anytime since 2007, with the largest gains reported by households in the upper third of the income distribution. Whereas the bottom two-thirds of the income distribution reported recent net income declines, the top income group reported widespread net income increases.


Well done Chairman Bernanke.  

 

Fri, 05/17/2013 - 10:40 | Link to Comment HalEPeno
HalEPeno's picture

"Highest since 2007".  Somebody jog my memory. Didn't something significant happen shortly after that?

Fri, 05/17/2013 - 11:23 | Link to Comment overmedicatedun...
overmedicatedundersexed's picture

when the ponzi is run by central banks kinda hard to see it ever busting, until paper fiat is rejected for shelter food and fuel, party on.

Fri, 05/17/2013 - 12:05 | Link to Comment BeetleBailey
BeetleBailey's picture

Nice edit Ness....

Fri, 05/17/2013 - 10:18 | Link to Comment fonzannoon
fonzannoon's picture

If the dollar is so fucking strong why is crude heading higher and higher?

Somebody? Anybody?

WTF is my strong dollar able to buy me more of today, than it did yesterday, other than gold?

Fri, 05/17/2013 - 10:31 | Link to Comment ejmoosa
ejmoosa's picture

Confidence in Michigan

Fri, 05/17/2013 - 10:31 | Link to Comment Hohum
Hohum's picture

fonzanoon,

Oh, I don't know.  Maybe with rig counts flattening, there is a perception that crude falling (it's flat YTD, more or less) will reduce production.

Conflicts with the ideology of many ZHers, I know.

Fri, 05/17/2013 - 10:33 | Link to Comment fonzannoon
fonzannoon's picture

You may be right. In general I am just curious as to what my stronger dollar can buy me me more of today. I just called. $1,450 for gold eagles and they have 20 ASE left and they want $28.50 for me to wipe em out.

Other than gold I can't find a thing.

Fri, 05/17/2013 - 10:57 | Link to Comment OldE_Ant
OldE_Ant's picture

Given the ass tearing the market bears have are experiencing I'm thinking it's almost time for the real PM ass tearing to begin.  Then the banker chorus can echo "Gold is NOT money" with the sheep echoing "Yes master" to the tune of "God Bless America".

$1350 for the paper price of gold may just be the start.  Funny thing with this is as the price of PMs drop it will mean intermediary brokers will be less likely to want to hold it in stock, even if they could get it.

I honestly have to agree, what exactly has gone down in price other than PMs?   Answer Nothing!

When has any FIAT currency ever made and kept any long term gains (over 5-10 years much less a lifetime) NEVER.

To me all this QE will end BS is looking to me like QE4 is already baked into the cake, and the insiders already knew which is why they've been buying the markets hand over fist.   Because they HAVE FOUND SKITTLE SHITTING UNICORNS, and a few GOLDEN EGG LAYING GEESE, to go with the EVER GUSHING OIL WELLS courtesy of QE4.

Fri, 05/17/2013 - 10:58 | Link to Comment Peachfuzz
Peachfuzz's picture

Dollar may be heading higher, but US stuck the nose where it doesn't belong yesterday. That congressman that said we're going after Iran's gold imports forgot something. Gold used to flow through Turkey to get to Iran, and US got upset. Turkey backed down on sending gold to Iran, they now import to Saudi's who then import it to Iran. There was a veiled threat to the Saudis in that article that they need to stop by 1st of July.

I don't understand all of this, but I see the US talking out of both sides of its mouth again. It says no gold to Iran or else, but not before it gives billions in military hardware and cheap gold (via market manipulation) to the very people that are importing gold to Iran in the first place. How do they intend to make the Saudis stop importing gold to Iran when the West pays for its oil with cheap gold and not paper money like they'd have us believe? I sure hope they ask nice, maybe the Saudis will be impressed with their manners.

checkout that link that Dochen posts to Thoughts of Another, it's quite thought provoking if nothing else. His explanation of oil priced in gold for cheap oil priced in dollars makes sense to me.

Fri, 05/17/2013 - 14:53 | Link to Comment TheEdelman
TheEdelman's picture

Cattle for your ranch.

http://www.rmdfx.com/wp-content/uploads/2013/05/yrsofar1.png

Sugar for your coffee.

Fri, 05/17/2013 - 10:20 | Link to Comment spzpeterusz
spzpeterusz's picture

simple--depends on if the survey was tilted to  the 1% or 99%   feeling good owning qqq, google, booking my tickets to go to Spain and switzerland.  BOOYAaaa

Fri, 05/17/2013 - 10:29 | Link to Comment fonzannoon
fonzannoon's picture

No argument there. Enjoy your trip. Don't get pulled underground by a Morlock. More and more of them being created everyday.

Fri, 05/17/2013 - 10:21 | Link to Comment madbraz
madbraz's picture

This is easily the most manipulated "data" they use to get things going.  It's now "Reuters", so that gives you an indication.  

 

Funny how a "poll" of people interviewed by phone comes up with such enormous one month gain in confidence when supposedly half of the people don't own stocks and 99.99% don't work for trading desks of primary dealers, the Fed and hedge funds. 

 

What area code are they calling, 212 and 646?  

 

As rigged as it gets.  Thanks Robert Rubin and Larry Summers, your puppet has done wonders.

Fri, 05/17/2013 - 10:22 | Link to Comment mattdubz86
mattdubz86's picture

How come the US Macro chart did not tick upwards? What is the BBG ticker for this? where is the validity behind those charts?

Fri, 05/17/2013 - 10:22 | Link to Comment adr
adr's picture

If the pollster asked, "Are you confident that the economy sucks?"

It would show consumer confidence rose.

With any poll the questions asked can scew the results in any direction they wish.

With the IRS, AP, Bengazi, etc scandals do you think you can trust anything?

You probably only have to scratch the surface to find that the BLS and every other bureau of economic BS have been massively fudging the numbers at the direction of the White House. (We know the data is BS, but the truth hasn't come out yet)

All to benefit the masters who lost too much of their money in 2008.

Fri, 05/17/2013 - 11:44 | Link to Comment Apply Force
Apply Force's picture

I grow more confident each day that the dollar will become worthless, and so I plan on spending what I can in exchange for physical things of value to me and mine... Not sure how many others feel the same but my hope is that the numbers are growing.

Fri, 05/17/2013 - 10:24 | Link to Comment jim249
jim249's picture

Any data with "Thompson Reuters" involved is just moar BS. Got to keep this fake rally going!

Fri, 05/17/2013 - 10:32 | Link to Comment otto skorzeny
otto skorzeny's picture

Reuters are rothschilds' bitchez- bitchez. Is anyone else enjoying the bukkake theater that is the IRS scandal hearing?

Fri, 05/17/2013 - 10:26 | Link to Comment Goggles Pisano
Goggles Pisano's picture

Now I know what $7 trillion buys you.........30 consumer confidence points.

Fri, 05/17/2013 - 10:27 | Link to Comment Fiat Burner
Fiat Burner's picture

Who gives a shit? "Consumers" are probably the dumbest people on the planet when it comes understanding the health of the economy.

Fri, 05/17/2013 - 10:57 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

"Consumers" is a synonym/code for "Sheep". Any questions?

Fri, 05/17/2013 - 10:27 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

Collective delusions are always difficult to figure out while you are in the midst of one.

Fri, 05/17/2013 - 10:28 | Link to Comment Law97
Law97's picture

Last month, when Mich Confidence number missed, CNBS kept telling us how the number didn't matter, was volatile, historically not a good indicator, etc.,  Instead they told us to focus on the weekly jobless claims number which, that week, was good. 

 

Here we are this week with the opposite: good Mich Con numbers and bad weekly jobless claims and yep, CNBS is doing the switcheroo, saying the jobless claims don't matter and that the Mich Con number is a great indicator for how the recovery is progressing.  Unbelievable!   They must think we have the memory and/or intelligence of a fruit fly!

Fri, 05/17/2013 - 10:33 | Link to Comment Dr. Engali
Dr. Engali's picture

"They must think we have the memory and/or intelligence of a fruit fly!"

 

 

95% of CNBS's viewers do.

Fri, 05/17/2013 - 11:22 | Link to Comment insanelysane
insanelysane's picture

ZH-ers are the only ones watching CNBS and it is purely for entertainment except for MDB.

Fri, 05/17/2013 - 10:42 | Link to Comment Peachfuzz
Peachfuzz's picture

Well, if you're from MI apparently you might. It seems the ACLU is suing a MI highschool because only 10 percent of their graduating class can read proficiently. I was slack jawed when I read that.

Fri, 05/17/2013 - 10:27 | Link to Comment orangegeek
orangegeek's picture

BUY MOAR STOCKS!!!! MOAR, MOAR, MOAR!!!

 

Poor lemmings that actually believe this shit.

Fri, 05/17/2013 - 10:29 | Link to Comment Everybodys All ...
Everybodys All American's picture

University of Michigan confidence number is now being put out by the IRS. IF you don't answer 'properly' someone is likely to show up at your door, to lets say change your mind.

Fri, 05/17/2013 - 10:34 | Link to Comment Kaiser Sousa
Kaiser Sousa's picture

im CONfident they surveyed all those dudes i encountered yesterday at nearly every exit and entrance to my bay area freeways with cardboard signs asking for food, money, or a "little help" in order to reach these figures.....

 

this country is a fucking joke...

Fri, 05/17/2013 - 10:34 | Link to Comment Handful of Dust
Handful of Dust's picture

Trickle down jobless green shoot recovery ?

Fri, 05/17/2013 - 10:37 | Link to Comment gmak
gmak's picture

In these incredible times, the age-old adage springs to mind.  "Liar liar, pants on fire".

Fri, 05/17/2013 - 10:40 | Link to Comment Rodders75
Rodders75's picture

You can't get away from the fact that this was a good n°. You permabears are a bore. It's like Republicans saying that democracy was somehow fundamentally flawed just because Obama won. People are just saying things you lot don't like. Perhaps a recovery is on the horizon but we just can't see it yet. Wake up and smell the coffee. I love Bernanke for what he's doing. I think a recovery is just around the corner and that markets can rise another 20% before year end. Plus leading indicators index is doing better than expected.

http://www.bloomberg.com/news/2013-05-17/april-leading-indicators-index-in-u-s-rises-more-than-forecast.html

Fri, 05/17/2013 - 10:44 | Link to Comment gmak
gmak's picture

The LEI has, as a big component, the stock market with all it's discounting predictibe powers.  lol...  The stock market goes up because the stock market goes up. ridiculous.

 

In 6 months, I expect to wake up and find that the economy has jumped to 5% growth (real) overnight. lol.

Fri, 05/17/2013 - 10:39 | Link to Comment Debt Slave
Debt Slave's picture

Okay so this means UMich CCI is an accurate measure of deluded fantasy.

Fri, 05/17/2013 - 10:40 | Link to Comment dolph9
dolph9's picture

If human beings are stupid, and there are more human beings above ground now than ever before, and every day than the day before, that means that every single day the collective stupidity of the world increases.

It's plain math.

Fri, 05/17/2013 - 10:43 | Link to Comment Kreditanstalt
Kreditanstalt's picture

"..the polled "consumers" are confident if the market is up and the market is up if "consumers" are confident."

Surprised?  That IS the way this ridiculous and evil system works...

Fri, 05/17/2013 - 10:44 | Link to Comment Father Lucifer
Father Lucifer's picture

Something wicked this way comes.

Fri, 05/17/2013 - 10:48 | Link to Comment Kirk2NCC1701
Kirk2NCC1701's picture

Have no fear, Underdog is here!

Go Michigan!

Fri, 05/17/2013 - 10:51 | Link to Comment asscannon101
asscannon101's picture

Its all due to the euphoria surrounding that economic juggernaut, that metropolitan powerhouse which we call, "Detroit".

Fri, 05/17/2013 - 11:21 | Link to Comment Tsar Pointless
Tsar Pointless's picture

Another in a long line of easy calls to make for today.

Yesterday has totally been forgotten. It is like it never happened.

Just as I said would occur yesterday afternoon.

S&P to the moon, bitchez!

Fri, 05/17/2013 - 11:30 | Link to Comment Rathmullan
Rathmullan's picture

Huge Pomo pump day. Pomo comes late but anything less than 100 on the dow and 10 on the S&P is a failure today.

Fri, 05/17/2013 - 11:38 | Link to Comment Bryan
Bryan's picture

Geez -- the freakin wheels are falling off.

Fri, 05/17/2013 - 11:52 | Link to Comment CutOut
CutOut's picture

....... * WARNING * .......

ZH is being targeted by FedGov spam bots saturating the comment sections with trash and down voting certain posters.

They are not just individual trolls, they are professional operatives attempting to undermine and discredit ZH.

Fri, 05/17/2013 - 11:59 | Link to Comment WallowaMountainMan
WallowaMountainMan's picture

in this neck of the woods, summer bookings are no worse than even yoy.

Fri, 05/17/2013 - 12:10 | Link to Comment icanhasbailout
icanhasbailout's picture

Maybe they are gaining confidence from seeing the appearance of people in government being held to account for their actions.

Fri, 05/17/2013 - 12:29 | Link to Comment dcb
dcb's picture

has the price of gas come down?

Fri, 05/17/2013 - 14:25 | Link to Comment MFLTucson
MFLTucson's picture

We are watching the most fraulent group ever to have power in America,   This report is a fucking joke!

Fri, 05/17/2013 - 14:54 | Link to Comment metaforge
metaforge's picture

Of course Motown is confident - the RedWings just made the 2nd round.  Does anything else matter?

Fri, 05/17/2013 - 19:01 | Link to Comment Element
Element's picture

Touchy-feely CON-fidence surveys are meaningless twaddle.

How can high confidence make any sense as a rational indicator of expected trends if "getting Cyrus-ed" is the operative and spreading template within Europe, and soon to be elsewhere?

They should just call it the "Sucker Survey"

Fri, 05/17/2013 - 21:45 | Link to Comment SnatchnGrab
SnatchnGrab's picture

Michigan? As in flat-broke Detroit MICHIGAN? To quote Will Farrell, "I feel like I'm taking crazy pills here!"

Tue, 05/28/2013 - 10:17 | Link to Comment Dollar Bill Hiccup
Dollar Bill Hiccup's picture

I'm 100% confident that trouble is brewing in this speculative cappuchino.

Tue, 05/28/2013 - 10:17 | Link to Comment Joe_in_Indiana
Joe_in_Indiana's picture

Probably didn't include those Unemployed and/or on Food Stamps

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