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Consumer Confidence Falls Short Of Weather-Peak; Plans To Buy A Home Drop
Following last month's drop and missed expectations - just when a post-weather bounce was hoped for - May's 83.0 print (in line with expectations) is disappointing to those seeing all-time highs in stocks. As reminder, the US consumer decided they were most confident in March - amid the shitty weather and stumbling stock market - and now with warm weather and record highs, things are less exuberant. Looking forward, plans to buy an appliance dropped as did plans to buy a home (even as rates drop).
As plans to buy a home plunge...
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Plans to buy carboard boxes and alpo are at all time highs.
Cardboard box always reminds me of this:
http://fredgassit.tripod.com/fred018.gif
These days most people can't even afford a pocket in an egg carton.
Uphoria abound in the USA so why is it that all the retail sales from WalMart to Costco are down? Think this may be bullshit??... I do!
PLA?
The consumers can rest comfortably in the knowledge that CEOs have never had it better when in comes to being compensated for destrying companies:
Median CEO pay crosses $10 million in 2013http://bigstory.ap.org/article/median-ceo-pay-crosses-10-million-2013
And to think it is all on taxpayer debt printed by the Federal Reserve!
You gotta sign that earnings statement now too.
If there is a huge surge in input prices with no corresponding ability to raise prices then these profits can quickly become ephemeral indeed.
Lemme give 'em a hint:
In order to commit to a 25 year mortgage, one first has to believe that one will have an uninterrupted income for the next 25 years.
Is that really so difficult to figure out?
Incremental loans still sell well in Europe... everybody still expect to make a lot more in 5 years from now...
The idiots will lose everything because they borrowed too much. The smart people will never have anything in the first place because they were outbid by the idiots.
prescient
My money comes from the FED but they never told me who my boss was. I think its Janet Yellen. I'm going to ask her for a raise: Up my FAFSA Yellen MothaFukka.
The Totus has led us to the promised land - every rising stock prices, increasing consumer confidence, cheap gold and silver and no volatility to worry about. Plus droning of poor people for sheer entertainment value.
Keep buying Twitter - Obama will ensure that is surges soon. Stocks are only allowed to rise in Totustan.
I am confident I will consume as little as possible again this month, to inflict my little share of the maximum damage to the house of cards as possible.
If all is doing so well in the US economy, can anyone explaine why Russia and China do not want our treausries anymore and they need to defraud the public by buying them through a third party in belgium?
Russia and China hate us for our freedom fries.
I'm closing on a house, w/fireplace Friday.
Once the collapse comes, I’ll tear down the neighboring structures and use the wood to heat my feet.
They won't hold our debt because they are jealous
Freddie and Fannie to offer a zero down, zero percent interest for 60 months subsidy for banks and a free toster. ;)
I haven't heard the chosen one telling us lately how fantastic our economy is. Summer of recovery 6th edition?
The chosen one wants all the EBT money spent as soon as it is released from the treasury, (FED.)
Consumer CONfidence in a waste land of vacant commercial and residential buildings, legions of unemployed, stagnant or declining wages for producers, draconian tax and regulatory burdens? ROFL.
Hint to the academics - go outside and look around.
WE PWNED ALL YOUR DATA
They do not live in the real world. They live in a world of mathematical formulas and models. Greatly to be admired in Physics and Chemistry - but useless in statististical economics.
I think today, the choice of what home to buy comes down to: An X-tra Large camping tent, or the white Chevy serial killer van. Both in a prime location, down by the river.