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UMich Consumer Confidence Drops (Again); Misses By Most In 18 Months

Tyler Durden's picture




 

Following last month's drop and disappointing miss, University of Michigan Consumer Confidence just got even worse. Despite record high stock prices and near record high car purcahsing exuberance, consumer confidence tumbled for the 2nd month in a row (just when the pent-up demand of Q1 is supposed to kick in). This is the biggest miss of expectations since Dec 2012 and appears to confirm the lack of exuberance seen in the government's survey data. Inflation expectations dropped to the lowest in 2014 as hopes for the economic outlook dropped to 3-month lows.

 

Not the animal-spirity, wealth-creatingy, exuberance the Fed (and every multiple expansion-hoping muppet) was expecting...

This is a major problem as...

 

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Fri, 06/13/2014 - 10:04 | 4852627 B2u
B2u's picture

Fuck you consumers.  Obama needs you to spend, spend, spend to support his non-recovery.

Fri, 06/13/2014 - 10:04 | 4852635 kliguy38
kliguy38's picture

Count me in. I'm buyin more guns ammo and gold.....hope it helps

Fri, 06/13/2014 - 10:21 | 4852714 The Internation...
The International Jew's picture

LONG MULTIPLE CURRENCIES (fuck 1 world currency)

Fri, 06/13/2014 - 14:20 | 4854244 TheRideNeverEnds
TheRideNeverEnds's picture

Just but more e-minis, the rest of that stuff is garbage but the S&P is worth more than gold and is ripping higher in value basically every day.

Fri, 06/13/2014 - 10:05 | 4852641 PlusTic
PlusTic's picture

you know it's getting bad when fake surveys can't beat expectations...

Fri, 06/13/2014 - 10:26 | 4852734 Winston Churchill
Winston Churchill's picture

Was this after seasonal adjustment ?

Fri, 06/13/2014 - 10:07 | 4852650 Mrs. Cog
Mrs. Cog's picture

The whole shopping thingy just ain't what it used to be.

Fri, 06/13/2014 - 10:44 | 4852652 Dr. Engali
Dr. Engali's picture

I don't suppose the fact that gas prices are pushing $4.00 a gallon again, and that the world is erupting into chaos has anything to do with it.

Fri, 06/13/2014 - 10:11 | 4852665 CheapBastard
CheapBastard's picture

I can tell you the apparel and furniture sales are in very sad sad shape. Double coupons, zero down, no payment for 5 years, no interest loans, cash-backs and so on and the stores ares till rather empty except for strollers getting out of the heat outside on the store's dollar.

The poor don't need more clothes or furniture and the Middle Class is struggling to pay for that overpricd house and higher gas prices.

Fri, 06/13/2014 - 10:13 | 4852670 yogibear
yogibear's picture

Federal Reserve's solution will be to un-taper and make like Zimbabwe. 

They'll keep increasing the printing to try and counter the cleansing effects of deflation. Eventually they get what they want and more, hyperinflation.

First deflation which they will feverishly fight.

Hyperinflation is the nail in the Fed's coffin because raising will kill the US and it's debt so they will continue printing.

Fri, 06/13/2014 - 10:14 | 4852677 ejmoosa
ejmoosa's picture

...and that's why they are having to open the borders....we need more consumers.

Fri, 06/13/2014 - 10:21 | 4852708 Kprime
Kprime's picture

pampers and formula paid for by more printing?

Fri, 06/13/2014 - 10:41 | 4852779 ejmoosa
ejmoosa's picture

I did not say it was correct logic.  But Biden affirmed yesterday that these illega immigrants are crucial to America's future GDP growth, and would even lead us towards a balanced budget.

 

I nearly choked when I read that.

 

 Vice President Joseph R. Biden told a National Association of Manufacturers’ crowd this week that what the United States needed was more, not fewer, immigrants. Specifically, he called for a “constant, unrelenting stream” of new immigrants — “not dribbling [but] significant flows,” to bolster the national economy, The Hill reported. Me: Mr. Biden predicted that opening the doors to the White House’s vision of immigration reform, which is heavy on the amnesty, would allow the nation’s gross domestic product numbers to hike by 5.4 percent, or $1.4 trillion, over the next two decades, Newsmax reported. Simultaneously, he predicted that the deficit would drop by $850 billion Read more: http://www.washingtontimes.com/news/2014/jun/11/joe-biden-us-needs-const...
Fri, 06/13/2014 - 10:15 | 4852687 Ness.
Ness.'s picture

Every single data point was a huge miss today.  Wars raging all over the ME.  We finish green today boys, can't go to the Hampton's with red on the board (unless it's brown people's blood).

 

#PPT to the rescue!!!

Fri, 06/13/2014 - 10:16 | 4852688 Quinvarius
Quinvarius's picture

At some point the Fed decides the banks can survive the crash and let it all fall.  But of course the banks are liars.  They leveraged up that bailout money already.  They will confidently say they are fine right until they day they go under again.

Fri, 06/13/2014 - 10:18 | 4852692 Kprime
Kprime's picture

going to have to start counting hookers

 

Fri, 06/13/2014 - 10:20 | 4852701 Hindenburg...Oh Man
Hindenburg...Oh Man's picture

Bullish! Gold going down, stocks recovering...geopolitical issues only have a 1-day shelf life. 

Fri, 06/13/2014 - 10:21 | 4852707 Billy Shears
Billy Shears's picture

I'm so depressed and lacking in confidence! What to do? I know, I'll go "buy" a new car! At least I'll look good when I pull up to the pump and put $4.00/gal. gas in "my" car! Still, strangely, I don't "feel" wealthier?

Fri, 06/13/2014 - 10:46 | 4852799 Kprime
Kprime's picture

that's cuz u forgot ur psychotropic drugs, go take them now.

Fri, 06/13/2014 - 10:24 | 4852724 canonball
canonball's picture

Belgium needs to buy the U of Michigan and its alumni to force this higher....

Fri, 06/13/2014 - 10:26 | 4852732 orangegeek
orangegeek's picture

Consumer confidence?  Which consumers are we speaking of?  Ones with food stamps or ones without.

Fri, 06/13/2014 - 10:28 | 4852751 pound the vix
pound the vix's picture

The Bently and Rolls Royce consumer

Fri, 06/13/2014 - 10:39 | 4852753 pound the vix
pound the vix's picture

.

Fri, 06/13/2014 - 10:26 | 4852736 pound the vix
pound the vix's picture

That's all it took for the Hampton hores to start a weekend cash money profit run.  Fucking idiots.  Wall Street gains.  99% loooooose

Fri, 06/13/2014 - 10:33 | 4852754 Millivanilli
Millivanilli's picture

I only feel positive at 73.4 degrees.  Just sayin

Fri, 06/13/2014 - 10:45 | 4852793 CoastalCowboy
CoastalCowboy's picture

Since we have TOTUS for our Bankster sock puppet du jour, my confidence is immeasurable.......

Fri, 06/13/2014 - 11:13 | 4852937 TabakLover
TabakLover's picture

Yep....and the Dow runs up 70 pts in 30 mins.  Gotta make the sheeple feel like spending over the weekend.

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