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And Now, What The Consumer Really Thinks: Gallup Poll Finds Confidence Tumbles To 2014 Lows

Tyler Durden's picture




 

With stocks at record-er and record-er highs, TPTB must be confused as as to how confused the American public is. While 'government' data showed confidence at Jan 08 highs, Gallup's latest survey shows, only one in five Americans (22%) say the economy is excellent or good, while 34% say it is poor; and worse still, Americans continue to be less optimistic about the economy's future - 38% say the economy is getting better, while 58% say it is getting worse - the worst differential since 2013. Gallup's U.S. Economic Confidence Index lost another point last week, the third week in a row, dropping to its lowest in over 2 months. The bottom line, sadly, is that in spit of all the sound and fury, Americans may not have shifted much in their perceptions of the economy's current status, but over the past month, they have become more negative about the economy's future.

 

Despite Government-sponsored surveys of confidence suggesting Americans are their happiest since 2008, Gallup has a different perspective...

Via Gallup,

Gallup's U.S. Economic Confidence Index lost another point last week, the third week in a row the index has dropped by one point. At -16 for the week ending June 22, the index is the lowest it's been since April...

Currently, about one in five Americans (22%) say the economy is excellent or good, while 34% say it is poor...

But Americans continue to be less optimistic about the economy's future. Thirty-eight percent say the economy is getting better, while 58% say it is getting worse, for an economic outlook score of -20 -- a five-point drop from the previous week. This is the most negative Americans have been about the economy's future since December 2013.

Bottom Line

Americans may not have shifted much in their perceptions of the economy's current status, but over the past month, they have become more negative about the economy's future.

*  *  *

It seems Gallup forgot to call the same Wall Street CEOs that the government did to survey confidence... but that hasn't stopped such epic thinkers as Joe Lavorgna extrapolating...

Rising confidence corroborates view that “geopolitically-driven rise in oil and gasoline prices has been inconsequential for households thus far,” Joseph Lavorgna, economist at Deutsche Bank, writes in note.

 

Gain in June confidence index suggests relief from winter utility costs is  “dominant theme” for consumers

Aside from the fact that the gains in confidence were all in the Pacific (as Mountain and Central regions tumbled) and all in the older wealthier American as Under-35s plunged... and Gallup appears to represent that reality a little better than the apparently manufactured government data.

 

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Tue, 06/24/2014 - 14:31 | 4890115 knukles
knukles's picture

Say it ain't so, Bro!

Tue, 06/24/2014 - 14:32 | 4890126 Troll Magnet
Troll Magnet's picture

SO...Um...Bullish?

Tue, 06/24/2014 - 14:38 | 4890162 pods
pods's picture

They should time these polls for the day after the government cheese arrives.

pods

Tue, 06/24/2014 - 14:46 | 4890202 Save_America1st
Save_America1st's picture

1 in 5 say the economy is excellent?  Let me re-phrase that stat for ya:  5 out of 5 banksters say the economy is excellent.

there...all fixed. 

Tue, 06/24/2014 - 14:47 | 4890214 Soul Glow
Soul Glow's picture

Don't look at the government cheese behind the curtain.

Tue, 06/24/2014 - 14:32 | 4890127 jubber
jubber's picture

market not looking happy Dow off 100+ are we about to have a Dubai moment?

Tue, 06/24/2014 - 14:35 | 4890144 Freddie
Freddie's picture

America is filled with cowards including the military.  They are all 5'9" cowards like General Betray-us.  The USA was stolen by the NWo and Obama.  The only real man in the country with any guts is Sheriff Joe Arpaio.  The rest are cowards who watch TV and Hollywood's shit.  My guess is 85% of the posters here still watch tv like f**king sheep.

Tue, 06/24/2014 - 14:37 | 4890157 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

The biggest man to serve in the military in the past 10 years has been Chelsea Manning.

Tue, 06/24/2014 - 14:36 | 4890160 the not so migh...
the not so mighty maximiza's picture

i did enjoy Fargo and the americans i am guilty

Tue, 06/24/2014 - 14:39 | 4890169 Winston Churchill
Winston Churchill's picture

Bill O'Reilly is the best comedy hour going Freddie.

I am so diconnected from sheeple thinking I need to know what the brainwashing de jour is.

.Don't wanrt to be run over when they stampede.

Know thy enemy.

Tue, 06/24/2014 - 14:43 | 4890190 Gaius Frakkin' ...
Gaius Frakkin' Baltar's picture

Same here... I watch television like a scout watching enemy troop movements.

Tue, 06/24/2014 - 14:40 | 4890171 pods
pods's picture

Fuck Joe Arpaio, worst example of "little man syndrome" I have ever seen.  

Probably beats off to a picture of Stalin.

pods

Tue, 06/24/2014 - 15:21 | 4890351 ejmoosa
ejmoosa's picture

I have never seen a sheep f**king and watching tv.

 

Sounds as if you have some experience there?

Tue, 06/24/2014 - 15:39 | 4890435 Paveway IV
Paveway IV's picture

"...My guess is 85% of the posters here still watch tv like f**king sheep..."

Geeze... that's a TV show now? Must be on pay-per-view.

Tue, 06/24/2014 - 14:35 | 4890147 Stoploss
Stoploss's picture

Status Quo has massive trouble in the youngster group.

 

 

Tue, 06/24/2014 - 14:36 | 4890154 the not so migh...
the not so mighty maximiza's picture

for phoney numbers they still suck

Tue, 06/24/2014 - 14:41 | 4890181 Dr. Engali
Dr. Engali's picture

Apparently the writers at Gallup didn't get the memo that this is all a CONfidence game and the minister of truth can not have this type of information made public. Time to do a little background check into their business practices. Don't bother destroying your hard drives, the NSA had backups.

Tue, 06/24/2014 - 14:42 | 4890184 QQQBall
QQQBall's picture

Americans are a bad gauge of anything. Most peeps really are fooking dumb.

Tue, 06/24/2014 - 14:44 | 4890194 MFL8240
MFL8240's picture

Glad to see another goverment lie goes unreported by the Obama Media!

Tue, 06/24/2014 - 14:46 | 4890206 Kaiser Sousa
Kaiser Sousa's picture

Mother fuck "Joe Lasagna"...

 

Tue, 06/24/2014 - 15:09 | 4890232 MedicalQuack
MedicalQuack's picture

Well all everyone is getting a blast of is wearables, apps, etc. that will be taking over when in fact the truth of the matter is there are more folks trying to stay off the radar today as well.  Consumers are not stupid and are very aware of data mining and selling that is going on so yes we watch VCs dump billions into this type device or app and meanwhile back at the ranch...the search for methodologies to stay off the radar grow...

http://ducknetweb.blogspot.com/2014/06/the-quiet-and-unspoken-consumer.html

I was not real popular needless to say with the mobile health folks for obvious reasons when I posted it. I'm sorry my clipboard screwed me up, fixed the link to the correct one. 

Tue, 06/24/2014 - 15:06 | 4890292 madcows
madcows's picture

The consumer thinks the Government numbers are deliberately deceptive.

Tue, 06/24/2014 - 18:18 | 4891025 logicalman
logicalman's picture

Everyone who is capable of independent thought KNOWS the Government numbers are criminally deceptive - as in 'Fraud'

Tue, 06/24/2014 - 15:18 | 4890330 moneybots
moneybots's picture

How can anyone have confidence in this economy? 

 

Over 45 million people are on food stamps.  92 million are not working.  While the number of jobs lost in the recession has been recovered, the working age population has increased by 15 million, nearly double the number of jobs lost in the recession.  Even if not imminent, we are much closer to the next recession than we are to the previous one, which means limited improvement before the next one occurs.

The debt bubble, grows ever larger, which means it has yet to burst and deflate.  The future looks rather dark, even if things inprove in the short term.

Tue, 06/24/2014 - 15:21 | 4890347 moneybots
moneybots's picture

"Gallup appears to represent that reality a little better than the apparently manufactured government data."

 

What we need is more positive manufacturing data, than positively manufactured government data.

Tue, 06/24/2014 - 15:37 | 4890426 hardmedicine
hardmedicine's picture

I don't know about you all........... but something big is happening in the insurance markets.  Claims for major services dropped through the floor............ crash?

 

i don't know.......... i just feel it is within arms length now.  HOpe i am wrong.

Tue, 06/24/2014 - 16:22 | 4890609 kurt
kurt's picture

The Important Question

By group, which one is fatter?

Tue, 06/24/2014 - 18:15 | 4891016 logicalman
logicalman's picture

???

Thirty-eight percent say the economy is getting better.

What the fuck are they smoking?

Tue, 06/24/2014 - 19:32 | 4891278 MedicalQuack
MedicalQuack's picture

By the way I guess we should know in the next few months too on Walgrees, tax inversion or cut backs and layoffs to help finance, stock buyback program, like what HP did.. What does this do for consumer confidence?  Will they close stores and/or lay off people to raise the price of the stock since it's not hitting what was forecasted?

http://ducknetweb.blogspot.com/2014/06/so-what-avenue-will-walgreens-tak...

This is getting ugly, so any reason confidence is low when you have moves like this that rip jobs out from under people?  A little sarcasm here too, but with United Healthcare is this too why we are seeing Medicare Advantage MD fired right and left with their stock buy backs?  We already see the politics there with a United executive landing the #2 job in CMS.. And you know he had to take a pay cut to leave a United subsidiary to work for the gov..

http://ducknetweb.blogspot.com/2014/06/how-hard-did-united-have-to-lobby...

That move put the fear of God in doctors as already with their business models with owning the physician groups as they do in So Cal, MDs are getting paid less than Medicare via complex contracts they have to sign to be in network. 

Does this add to confidence too? 

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