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UMich Consumer Confidence "Recovers" - Hovers At 10-Month Lows
Unlike every other measure of consumer confidence, sentiment, or comfort, the 'final' UMich Consumer Confidence print recovered its "flash" collapse and managed to beat expectations. However, before the party streamers are broken out, this uptick leaves the confidence data the 2nd lowest since Jan 2013 - led by - drum roll please - the expectations for the future (which rose from a preliminary 62.3 to final 66.8). Perhaps troubling is the drop in inflation expectations - down to 2.9% year ahead, the lowest since Oct 2010. So unlike the rest of the surveys, UMich finds consumers more confident about the future but in the baffle-em-with-bullshit category, expecting disinflationary pressures to grow. Of course, there are seasonality factors - its the holidays nearly - and we note that the 75.1 print is lower than any Nov print from 2004-2008.
But this is a lot lower than confidence for this time of year compared to pre-crisis...
Charts: Bloomberg
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Ironic that UM is reporting this shit when the whole state is collapsing.
They polled 2 people...buffet and icann....they said everything is bearable but they added that they want MOAAAAAR!
The FED knows one way.
It either prints or it does not.
But it's a bank. It DESIRES to print. It DESIRES debt. It DESIRES leverage.
Even if it does not work.
The FED is a junky.
and the banks are sucking on Bennies tits
The Fed is the best of both worlds, a Junkie and The Pusher Man.
Autoerotic ...
Please don't associate an image of the incoming chairperson ... dangerous to your well being.
http://investmentwatchblog.com/wave-of-disaster-threatens-u-s-mortgage-m...
Tell me again how many people are involved in this report?
Oh yeah, 500 phone calls.... highly statistically significant..
Most of them are on EBT
My confidence in the UofMich Consumer Confidence Survey is low.
There’s little difference between so-called private reports and government reports when they’re plugged into the same line – the privately owned Federal Reserve. It’s all one big happy family.
Says Wikipedia of the University of Michigan Consumer Sentiment Index Thomson Reuters/University of Michigan Surveys of Consumers, published monthly by the University and Reuters:
“This Index has implications that can influence the value of the dollar, stocks, and bonds.
“CNBC reported on 12 June 2013 that the University of Michigan provides Thompson Reuters news service with the data early, so that Reuters can release the CSI to select, paying clients at 9:55 am, five minutes before it releases the data to the general public on its web site at 10:00 am. In addition, Reuters releases the data via high speed communication channels to select clients two seconds earlier at 9:54:58 am. CNBC revealed that trading activity increases dramatically within milliseconds of 9:54:58. Traders who subscribe to either service and are able to take advantage of the CSI before the university releases it to the public. Former Securities and Exchange Commission Chairman Harvey Pitt opined that this might present a fairness issue and destroy confidence in the market by the public.[2]
“Thompson Reuters announced on 08 July 2013 that is was suspending its early release practice as part of an agreement with the New York Attorney General's office. [3]
“The University of Michigan states it receives about a million dollars a year from Reuters for this advance information, but said it couldn't do the research without the Reuters payment.[2]”
http://en.wikipedia.org/wiki/University_of_Michigan_Consumer_Sentiment_Index
The Thomson Corporation acquired Reuters Group PLC to form Thomson Reuters on April 17, 2008. This powerful multinational media voice operates in 100 countries, and has 60,000 employees.
Trust ZH to find a rusty lining on this imaginary silver cloud.
Not only 2014 to be a bumper year says Nomura : But ALSO Our problems are over !
The End Of The End Of The World - Business Insider
Maybe somebody should tell that big bad bear who works for Nomura that his bank is now a mega bull on rampage.
So...2015 and 2016 and 2017 will be blue skies and all highs.
Lol, I am the lion in the Nomura wizard of OZ tale and I've got myself a new heart.
Perhaps there needs to be a White Hpuse Confidence gauge in the USA…
Says RT today in Iran: White House gave false details of nuclear agreement :
“Tehran has strongly rejected Washington’s interpretation of the long-awaited interim nuclear agreement reached by the P5+1 nations in Geneva, as Iran’s Foreign Ministry labeled the factsheet released by the US a ‘one-sided interpretation’…
“A spokeswoman for Iran’s Foreign Ministry, Marziyeh Afkham, came out with the following statement published by the Fars news agency on Tuesday:
“’What has been released by the website of the White House as a factsheet is a one-sided interpretation of the agreed text in Geneva and some of the explanations and words in the sheet contradict the text of the Joint Plan of Action [the title of the Iran-powers deal], and this factsheet has unfortunately been translated and released in the name of the Geneva agreement by certain media, which is not true.’”
http://rt.com/news/us-lied-agreement-iran-364/
"If you want to keep your consumer confidence, you can keep your consumer confidence."
These survey macros are being used to push the "economy is growing" message.
Guess what? The planet calls bullshit!!!!!!!!!!!!!!!!!!