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Economic Confidence Collapses At Fastest Pace Since Lehman

Tyler Durden's picture




 

Last week we showed the cognitive dissonance, nurtured by a liquidity-providing Fed, that has growth this year between stocks and economic confidence. In the last week, fed by a diet of DC headlines, Gallup's economic confidence index has collapsed. In fact, this is the worst 3-week plunge since Lehman - worse than during the 2011 Debt Ceiling debacle.

Gallup's Economic Confidence is collapsing...

 

at the fastest pace since Lehman...

 

 

Data: Gallup

 

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Tue, 10/08/2013 - 17:30 | 4035658 VD
VD's picture

excellent. recoupling with semblance of reality, for a change. 

Tue, 10/08/2013 - 17:37 | 4035678 Arius
Arius's picture

good to know there is such a thing as economic confidence ...whatever that means (more paper shuffling for stupidos)

Tue, 10/08/2013 - 17:36 | 4035686 camaro68ss
camaro68ss's picture

This debt limit is a cover for Bernanke to double QE to 170 billion a month to “cover our bills” once the debt limit bill is passed and signed, he’ll keep QE at 170 billion a month.

Tue, 10/08/2013 - 18:01 | 4035772 McMolotov
McMolotov's picture

To the moon, Alice!

Tue, 10/08/2013 - 17:35 | 4035669 TeamDepends
TeamDepends's picture

Blythe, commence rererererehypothecation, you beautiful whore!

Tue, 10/08/2013 - 17:37 | 4035679 thismarketisrigged
thismarketisrigged's picture

i am praying for another lehman, or a worse situation.

 

although it was great to see these overbought tech stocks that contribute nothing to society such as fb, lnkd, nflx, etc get hammered today, the unfortunate thing is that unless we get a real default, these assholes will prob agree to something that does nothing to fix anything, but since it will be an ''agreement'' algos will buy buy buy and we will be back to higher levels.

 

we can only hope that we get another lehman type crisis and things never go back to those bubble prices.

Tue, 10/08/2013 - 17:46 | 4035723 W74
W74's picture

Me too friend.  At this point the only reasonable choice I have is to support Chaos and Anarchy. 

If there are no ashes, the Phoenix can never rise.

Tue, 10/08/2013 - 18:15 | 4035825 Teddy Tenpole
Teddy Tenpole's picture

 

 

 

Good Lord, you really should re-read what you write just to appreciate the stupidity there Patrick :)

Tue, 10/08/2013 - 17:39 | 4035691 W74
W74's picture

Even (former?) sheeple I talk to in passing converstion seem to have woken up (a little) to the bullshit around them.

While the curtain hasn't been pulled away yet it's opacity is fading into translucent and will eventually become transparent for all. 

When TPTB can no longer restore opacity to the fabric that hides them, hundreds of thousands, and then millions, will start waking up.

Tue, 10/08/2013 - 18:33 | 4035902 forwardho
forwardho's picture

Hundreds of thousands, and then millions, will be found to be unfunded liabilities. They may, or may not wake up just before the .40 JHP wipes them off the balance sheet.

Tue, 10/08/2013 - 17:39 | 4035695 linniepar
linniepar's picture

Shocking. Seismic and shocking!

Tue, 10/08/2013 - 17:41 | 4035702 involuntarilybirthed
involuntarilybirthed's picture

Life is now all drama and emotion, confidence is not measurable.

Tue, 10/08/2013 - 17:51 | 4035737 W74
W74's picture

I have confidence only in Miley's twerking, and have used a ruler to measure this confidence. 

May Cyrus the Great-Buttocks-Swayer dramatically return our country to economic and emotional sanity.  She is the only one who can save our country from this mess.

Tue, 10/08/2013 - 19:47 | 4036256 This just in
This just in's picture

Or at least make it feel that way for 5 or 6 minutes.

Tue, 10/08/2013 - 17:48 | 4035728 youngman
youngman's picture

Faster than 2011..that is because in 2011 people thought we were coming out of the recession...now we are two years past and still in the recession so your morale drops faster as you are just burned out from trying to make it all the time...

Tue, 10/08/2013 - 17:52 | 4035751 0b1knob
0b1knob's picture

Do you mean confidence as in "con game"?

Tue, 10/08/2013 - 17:56 | 4035762 Sudden Debt
Sudden Debt's picture

nono confidence like in "dence clouds"

Tue, 10/08/2013 - 17:52 | 4035753 29.5 hours
29.5 hours's picture

 

Do Puerto Ricans get to be part of that poll? Could be an unexpected sanity bias...

Worsening Debt Crisis Threatens Puerto Rico
Tue, 10/08/2013 - 17:53 | 4035758 Sudden Debt
Sudden Debt's picture

was there a problem in 2012?

Tue, 10/08/2013 - 18:10 | 4035787 SgtShaftoe
SgtShaftoe's picture

There are no problems ever any more charlie.  We're going to candy mountain!  It's a land of sweets and joy and joyness.  http://www.youtube.com/watch?v=_yJCNNwHUOE

Tue, 10/08/2013 - 18:36 | 4035913 Raynja
Raynja's picture

There were no comets in 2012 to cause problems

Tue, 10/08/2013 - 17:53 | 4035759 Seasmoke
Seasmoke's picture

Eventually you get tired of running on the hamster wheel and just give up. Moral hazard is a bitch, bitchez !!!

Tue, 10/08/2013 - 18:04 | 4035777 SgtShaftoe
SgtShaftoe's picture

Bullish!  I'm buying apple long options after I get back from a little canoe ride. 

Tue, 10/08/2013 - 18:05 | 4035779 yogibear
yogibear's picture

We still don't see fear in Bubbles Bernanke eyes. In 2008 Bill Gross was visibly shaken on CNBC when he took a bad bet.

See none of this yet.

 

Tue, 10/08/2013 - 19:14 | 4035783 Van Halen
Van Halen's picture

Economic confidence should not be the only thing collapsing. If you've listened to the stories of people who have encountered local/state/federal authorities over the parks/monuments closings, you should be very concerned. The level at which these low level authorities will go to be total assholes to the citizens they're supposed to serve - in order to enforce Obama's little tantrum - is alarming. The question is that if your average park ranger is willing to go gestapo on us over parks, then what will they be like when the real trouble starts? And note - we're just talking park rangers and park police and average cops.

Bottom line is that almost all our authority figures are moving into this phase where they feel they're way above us and we owe them somehow. This has to stop. There are about 3000 of them and about 320 million of us.

NOTE: I wanted to add this link I found a short time after this post. Anne Barnhardt says this far better than I did - have a listen to her latest interview here:

http://www.barnhardt.biz/

Tue, 10/08/2013 - 21:46 | 4036667 wisehiney
wisehiney's picture

+100 Ann

Tue, 10/08/2013 - 18:11 | 4035800 shankster
shankster's picture

Who had/has confidence in the economy?

Tue, 10/08/2013 - 18:12 | 4035808 Teddy Tenpole
Teddy Tenpole's picture

 

 

 

Goddam Republicans!!!

Tue, 10/08/2013 - 18:14 | 4035824 Uncle Remus
Uncle Remus's picture

Goddam Politicians!!!

Goddam Sheep!!!

Tue, 10/08/2013 - 18:11 | 4035810 Oldwood
Oldwood's picture

Its kind of like teasing a dog with a hotdog. You just have to wonder how many times he will go for it when you keep yanking it away. Confidence Hah! There is a reason they call it a confidence game! And guess who loses .every.fucking.time.

Tue, 10/08/2013 - 18:12 | 4035814 surf0766
surf0766's picture

measuring confidence or the lack their of is a sign of a country that only exports inflation and porn.

When will that add confidence to the GDP ?

 

http://nypost.com/2013/10/08/us-adults-are-dumber-than-the-average-human/

 

 

Tue, 10/08/2013 - 18:22 | 4035846 Teddy Tenpole
Teddy Tenpole's picture

 

 

All I know is that as a Sugar Daddy it's all good -- BOO YA!!!

Tue, 10/08/2013 - 18:30 | 4035887 geekgrrl
geekgrrl's picture

I'm amazed anyone has any "confidence" - whatever that means, in this market. I think what they're really trying to measure is how well the confidence game is holding up.

From a Webster's dictionary (ironically, c.1933):

Confidence game, trick (or the like): Any swindling operation in which advantage is taken of confidence reposed by the victim in the swindler (confidence man).

Tue, 10/08/2013 - 18:49 | 4035958 razorthin
razorthin's picture

Now show me the stawk collapse.

Tue, 10/08/2013 - 19:22 | 4036127 Kreditanstalt
Kreditanstalt's picture

This "economy" is filled with fraud, Ponzi schemes, manipulations, rigged prices, rigged wages, rigged indices, rigged asset "values", can-kicking and outright corruption.

If it - and consumerism with it - DIED, it would be cathartic.  And, ironically, "FAIR"...

Tue, 10/08/2013 - 19:42 | 4036231 Geruda
Geruda's picture

This is being one more bad thing we are having to be having blames to the tea bagging stupids who are like the bats who are having shitting crazies we can be having thanks for.  Many peoples are saying "stupid fucking crazy republicans" but I am thinking republicans are not being crazy but they are being cowards who are afraid of the crazy tea baggers which is being worse to be having because tea baggers are being stupid and republicans are knowing it but are having too many fears and are being cowards.

Tue, 10/08/2013 - 19:56 | 4036287 NOTaREALmerican
NOTaREALmerican's picture

Re:  republicans

While I can't stand the Red Team fascists any more than the Blue Team socialists I do think it's good to see the Red Team being forced to do something by somebody.  

I wish the Blue Team dumbasses could figure out how to force their sociopaths to do something once in awhile, but - well - we'd just get another Corporate Welfare scam like Obama-Care I guess.

Everybody loves free money. 

Tue, 10/08/2013 - 21:38 | 4036643 wisehiney
wisehiney's picture

Thank you. You hilarious "peoples" are keeping me rolling lately. Please stop! I can't breathe! Something's gonna break!  

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