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European Consumer Confidence Plunges; Misses By Most In 30 Months

Tyler Durden's picture


Despite record low yields on sovereign bonds, record high stock prices, and a political elite proclaiming it's all shits and giggles from here... it seems record unemployment, record suicide rates, record bad loans, and record low credit creation were finally enough to trump the 'wealth effect' exuberance that European consumer confidence has envisaged in recent months. This is the biggest drop in confidence in 18 months and the biggest miss since Aug 2011. This is a 3 sigma miss from expectations and below all 25 "economist" guesses. How's the weather in Europe?


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Thu, 02/20/2014 - 11:36 | 4457367 flacon
flacon's picture

Market is on drugs.

Thu, 02/20/2014 - 11:40 | 4457383 Winston Churchill
Winston Churchill's picture

OD'ed on FedRes juice.
Just waiting on the heart failure.

Thu, 02/20/2014 - 11:45 | 4457406 tarsubil
tarsubil's picture

WTF? The trend has been going up for a year? What country in Europe hasn't gotten worse over the last year?

Thu, 02/20/2014 - 11:52 | 4457432 RSloane
RSloane's picture

You're reading the chart the wrong way. Compared to Dec 2012 confidence is positively surging! In 2013 overall confidence continued to grow. I would tie this latest dip to the number of Olympic  medals garnered by EU countries. Thus endeth this tutorial on how to read charts - favored by bankers everywhere.

Thu, 02/20/2014 - 14:03 | 4458205 SAT 800
SAT 800's picture

49F in London; Balmy for February. Not even raining in northern Germany. Everyone should be happy; except of course, for the economic depression. as you point out.

Thu, 02/20/2014 - 11:38 | 4457375 youngman
youngman's picture

My confidence drops too when I am out of beer...

Thu, 02/20/2014 - 11:48 | 4457424 flacon
flacon's picture

Only thing worse than being out of beer is a wife who bitches at you that you drink too much beer. 

Thu, 02/20/2014 - 12:03 | 4457470 Smegley Wanxalot
Smegley Wanxalot's picture

Catch 22: She bitches about your beer consumption, which causes you to need more beer.

Thu, 02/20/2014 - 12:40 | 4457665 Nobody For President
Nobody For President's picture

Wrong Flacon - the only thing worse is to have lost a wife that used to bitch about you drinking too much, which I did last week.

She put up with me for 44 years, and I was lucky guy.

I am now really drinking too much.

Thu, 02/20/2014 - 13:25 | 4457949 DrunkenMonkey
DrunkenMonkey's picture

Chin up bro, there's plenty of women who are looking for a guy with gumption.

Thu, 02/20/2014 - 13:49 | 4458106 NoTTD
NoTTD's picture

And beer.

Thu, 02/20/2014 - 14:05 | 4458220 SAT 800
SAT 800's picture

If you can afford to buy beer; I'm sure someone will be willing to live with you and ease your stress.

Thu, 02/20/2014 - 11:40 | 4457382 madbraz
madbraz's picture

Wish Snowden had documents to show how they rig the stock market - it's quite clear for anyone looking that the whole financial system is completely rigged.

Thu, 02/20/2014 - 12:34 | 4457633 TruthHunter
TruthHunter's picture

"Wish Snowden had documents to show how they rig the stock market"

Apparently rigged markets aren't considered a security risk to them.


However, Toothpaste bombs are!

Thu, 02/20/2014 - 11:43 | 4457397 Ness.
Ness.'s picture

Who in the fuck is buying this shit market?  I must be taking crazy pills!

Thu, 02/20/2014 - 11:47 | 4457413 Winston Churchill
Winston Churchill's picture

Skynet knows what is best, just algos selling to algos.

Thu, 02/20/2014 - 12:18 | 4457556 Toolshed
Toolshed's picture

"Skynet knows the best way to milk it, just algos selling to algos."


Thu, 02/20/2014 - 13:23 | 4457938 DrunkenMonkey
DrunkenMonkey's picture

Believe it or not, some companies still make profits ..

Thu, 02/20/2014 - 14:48 | 4458543 SAT 800
SAT 800's picture

I covered my S&P shorts this morning at 1836; two points plus; but I just decided to get out; because of non-performance for the shorts; if it doesn't go down it might still be alive and I don't need any losses.

Thu, 02/20/2014 - 11:45 | 4457405 derek_vineyard
derek_vineyard's picture

all time highs!

Thu, 02/20/2014 - 11:57 | 4457461 Smegley Wanxalot
Smegley Wanxalot's picture

No worries: the coming hot war in eastern europe will drive up confidence.

Thu, 02/20/2014 - 12:07 | 4457499 TheRideNeverEnds
TheRideNeverEnds's picture

Meanwhile we have had a 20 point reversal to the upside since the overnight and now the market is going straight up.  


New highs all around; should have bought the dip.

Thu, 02/20/2014 - 13:27 | 4457962 DrunkenMonkey
DrunkenMonkey's picture

Some people seem to have forgotten that the Fed and all 3 branches of Gov. have the market's back.

Thu, 02/20/2014 - 12:07 | 4457511 AccreditedEYE
AccreditedEYE's picture

What does KKR's Henry McVey see that everyone else doesn't?

Thu, 02/20/2014 - 13:22 | 4457925 DrunkenMonkey
DrunkenMonkey's picture

Since you asked, the current weather / climate is very depressing and the economic climate even more so.


Thu, 02/20/2014 - 13:48 | 4458097 NoTTD
NoTTD's picture


Do NOT follow this link or you will be banned from the site!