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European Consumer Confidence Plunges; Misses By Most In 30 Months
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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Market is on drugs.
OD'ed on FedRes juice.
Just waiting on the heart failure.
WTF? The trend has been going up for a year? What country in Europe hasn't gotten worse over the last year?
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.
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.
My confidence drops too when I am out of beer...
Only thing worse than being out of beer is a wife who bitches at you that you drink too much beer.
Catch 22: She bitches about your beer consumption, which causes you to need more beer.
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.
Chin up bro, there's plenty of women who are looking for a guy with gumption.
And beer.
If you can afford to buy beer; I'm sure someone will be willing to live with you and ease your stress.
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.
"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!
Who in the fuck is buying this shit market? I must be taking crazy pills!
Skynet knows what is best, just algos selling to algos.
"Skynet knows the best way to milk it, just algos selling to algos."
FIFY
Believe it or not, some companies still make profits ..
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.
all time highs!
No worries: the coming hot war in eastern europe will drive up confidence.
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.
Some people seem to have forgotten that the Fed and all 3 branches of Gov. have the market's back.
What does KKR's Henry McVey see that everyone else doesn't?
Since you asked, the current weather / climate is very depressing and the economic climate even more so.
Bullish!