Consumer Confidence Collapses To 9-Month Low, Biggest Miss In Over 8 Years

Tyler Durden's picture

Unpossible! With stocks at record highs and unemployment plunging (according to the government's data and talking heads), how is it possible that University of Michigan Consumer Confidence has collapsed to its lowest since November, missing extrapolated expectations by the most since 2006? We suspect you know the answer...

 

 

The tumble - unlike Empire Manufacturing (which saw hope soar) was driven by a crash in the economic outlook (hope) to 10 month lows.

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max2205's picture

Give me a call when we get under 55

El Oregonian's picture

The new mobile home! You can travel the back streets in your permanent residence! I mean, how much more fun can one expect? Thank you Washington for this everlasting and permanent penniless vacation!

Save_America1st's picture

and well obviously this "great" news should be bearish for the paper PM's right?  And right on queue, the monkies are flying high and hammering the shit outta paper PM's.

Thank you Evil Empire...it's "pay" day today in fiat digital garbage which I will be quickly converting to real money phyzz Ag, bitchez!

Keep the sales coming in PM's, you fuckers...just gives us more time to stack cheap phyzz and take more of it off the market for a very long time and supplies will dry up faster and faster.

actionjacksonbrownie's picture

But hey... it's not all bad!

 

I just got this shiny new car for zero $$$ down, and no payments for 72 months!!!

SeattleBruce's picture

What about your 120 inch plasma TV - credit same as cash??!

Bossman1967's picture

Yes but they will be going to new records soon this report good for 200 plus points today. Bad news equals new highs and plummeting precious metals

firstdivision's picture

I would expect manufacturing would surge, gotta make the dildos to fuck 350 million butts is a large order.

Hal n back's picture

the cc would be much lower if not for the bs on the economy spewed by the govt and adm. Had a debate with friends last night at diner who were saying the economy is doing well. cannot even pull out data--they do not care that companies reporting weak sales or jobs earnings down.

junction's picture

First poster, are you on drugs? Did you read the article?  Answers: Yes and No.

F0ster's picture

Gold is on sale too

Mr. Magoo's picture

Thats the only good news

ekm1's picture

How is it possible for confidence to collapse even after marijuana is legalized?

Oldwood's picture

Cause the shit make some folks paranoid!

TeamDepends's picture

Because nobody is buying the govspeak BS anymore!

Eyeroller's picture

From SRSrocco:

"While the mainstream media and alternative analyst community focus on the typical economic indicators, monetary system, derivatives and debt markets… the real problem for the world financial system will be the rapid change in the “PERCEPTIONS” of assets by investors and the public.  This event will likely occur rather quickly — virtually overnight."

It is beginning...

Spastica Rex's picture

You mean the con could potentially fail?!

_ConanTheLibertarian_'s picture

The government should try selling it with $0 down.

davinci7_gis's picture

Bad news is good news for investors...all this bad news means the FED may not raise interest rates until much later than 2015.  Heck, the FED may even start up more QE and call it something else!  

What a sorry state our system is in....all the bubbles need to pop  but the FED won't allow it.

Eyeroller's picture

All bubbles pop eventually.

The Fed can only delay it, thus making for a bigger pop.

Hedge accordingly.

ziggy59's picture

Im confident a Revision of the confidence number is coming...

Wait What's picture

the EOM revision will fix this number. it happens every month. mid-month disaster, EOM recovery. both popular measures of consumer confidence have been doing this for a while now, their models must be f'd up.

CheapBastard's picture

I thought it was against the law for consumers to be unconfident?

venturen's picture

just print another $4 Trillion and give it to the richest! That will solve the problem....make the deficit $20 Trillion for liberal causes. Forgive everyone's loans on everything. As the courty is run by immoral insane people...heck make it $50 Trillion we can all live like Al Gore

Eyeroller's picture

Worked so far...

What could go wrong?

Spastica Rex's picture

Silly human beings.

Son of Captain Nemo's picture

Who saw this one coming?

Bossman1967's picture

There are no worries lets all smoke a joint and be happy. All is good cant believe the consumer the government knows better. Where are the cheap hookers

Hohum's picture

It's just a survey.  Ignore it--good or bad.

Son of Captain Nemo's picture

It's just a survey.  Ignore it--good or bad.

Even the University of Michingan with all it's Federal grants can't keep lying for them and have to tell the truth at some point!

Yen Cross's picture

    The markets have been up every day this week on absolutely atrocious macro... Who in any sane world would want to be long equites going into the weekend with all the instability  going on right now?

   Complacency Much ?

LooseLee's picture

Who? The PINKO FASCIST COMMIES running the show and their empty headed followers, my freind. No one with any modicum of intelligence is buying anything but real physical assets,,,,,

orangegeek's picture

WE NEED MOAR UNICORNS!!!!!

mastersnark's picture

I'm confident of a collapse, if that helps.

q99x2's picture

Could be the single remaining indicator that is not faked.

starman's picture

On vacation went to a Stanford mall. What a pretty mall. Almost every store had a 30 - 50% sale. They must of known I was coming. Except for American Girls doll store who knew my daughter was with me. I'm broke now.

buzzsaw99's picture

you're just a softie. i'll tell you, if it weren't for spending on opc (other people's children) (back to school next week) this economy would be starving if it were up to me. i spend next to zero on myself.

blown income's picture

Bought my daughter one last year I was pissed when it came in and found out it was made in China

Thought the whole thing about the doll was made in America

That doll was like 100 clams

blown income's picture

Bought my daughter one last year I was pissed when it came in and found out it was made in China

Thought the whole thing about the doll was made in America

That doll was like 100 clams

blown income's picture

Bought my daughter one last year I was pissed when it came in and found out it was made in China

Thought the whole thing about the doll was made in America

That doll was like 100 clams

Oldwood's picture

There is no real confidence. Everyone understands its all an illusion, but they " pretend" to have confidence. How many people in today's economy are selling stuff. Nobody can sell much of anything while being pessimistic regardless and especially if it is justified. We are a world full of used car salesmen and this is what we get.

B190769Sonny's picture

When leaders start speaking the truth.....the world will collapse.

"When it becomes serious you have to lie.  _Jean Claude Junker, PM of Luxembourg   5/2011.

"I expect there will be some failure....but I don't anticiapte any serious problems of that sort among large international active banks." -Bernanke  Feb 08

"Freddie Mac and Fannie Mae are fundamentally sound."   -Barney Frank  7/14/08

"If you like your health care plan you can keep it."    -Obama   3/10

"I will usher in a new era of bipartisian cooperation."    Obama   10/08

"Carpe diem!  Rejoice while you are alive; enjoy the day; live life to the fullest; make the most of what you have.  It is later than you think."  -Horace