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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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Fri, 08/15/2014 - 10:11 | 5097209 max2205
max2205's picture

Give me a call when we get under 55

Fri, 08/15/2014 - 10:36 | 5097386 El Oregonian
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!

Fri, 08/15/2014 - 10:45 | 5097438 Save_America1st
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.

Fri, 08/15/2014 - 10:11 | 5097221 actionjacksonbrownie
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!!!

Fri, 08/15/2014 - 14:59 | 5098982 SeattleBruce
SeattleBruce's picture

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

Fri, 08/15/2014 - 10:18 | 5097271 Bossman1967
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

Fri, 08/15/2014 - 10:04 | 5097167 fzrkid
Fri, 08/15/2014 - 10:07 | 5097192 firstdivision
firstdivision's picture

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

Fri, 08/15/2014 - 10:05 | 5097168 Hal n back
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.

Fri, 08/15/2014 - 10:07 | 5097170 junction
junction's picture

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

Fri, 08/15/2014 - 10:05 | 5097175 F0ster
F0ster's picture

Gold is on sale too

Fri, 08/15/2014 - 10:12 | 5097231 Mr. Magoo
Mr. Magoo's picture

Thats the only good news

Fri, 08/15/2014 - 10:06 | 5097183 ekm1
ekm1's picture

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

Fri, 08/15/2014 - 11:21 | 5097756 Oldwood
Oldwood's picture

Cause the shit make some folks paranoid!

Fri, 08/15/2014 - 10:06 | 5097187 Mr. Magoo
Fri, 08/15/2014 - 10:07 | 5097189 TeamDepends
TeamDepends's picture

Because nobody is buying the govspeak BS anymore!

Fri, 08/15/2014 - 10:11 | 5097214 Eyeroller
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...

Fri, 08/15/2014 - 10:13 | 5097235 Spastica Rex
Spastica Rex's picture

You mean the con could potentially fail?!

Fri, 08/15/2014 - 10:27 | 5097325 _ConanTheLibert...
_ConanTheLibertarian_'s picture

The government should try selling it with $0 down.

Fri, 08/15/2014 - 10:08 | 5097197 davinci7_gis
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.

Fri, 08/15/2014 - 10:14 | 5097233 Eyeroller
Eyeroller's picture

All bubbles pop eventually.

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

Hedge accordingly.

Fri, 08/15/2014 - 10:10 | 5097206 ziggy59
ziggy59's picture

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

Fri, 08/15/2014 - 10:13 | 5097242 Wait What
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.

Fri, 08/15/2014 - 10:23 | 5097306 CheapBastard
CheapBastard's picture

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

Fri, 08/15/2014 - 10:11 | 5097208 venturen
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

Fri, 08/15/2014 - 10:14 | 5097241 Eyeroller
Eyeroller's picture

Worked so far...

What could go wrong?

Fri, 08/15/2014 - 10:11 | 5097224 Spastica Rex
Spastica Rex's picture

Silly human beings.

Fri, 08/15/2014 - 10:18 | 5097274 Son of Captain Nemo
Son of Captain Nemo's picture

Who saw this one coming?

Fri, 08/15/2014 - 10:21 | 5097290 Bossman1967
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

Fri, 08/15/2014 - 10:21 | 5097294 Hohum
Hohum's picture

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

Fri, 08/15/2014 - 10:26 | 5097335 Son of Captain Nemo
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!

Fri, 08/15/2014 - 10:26 | 5097330 Yen Cross
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 ?

Fri, 08/15/2014 - 10:44 | 5097439 LooseLee
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,,,,,

Fri, 08/15/2014 - 10:28 | 5097352 orangegeek
orangegeek's picture

WE NEED MOAR UNICORNS!!!!!

Fri, 08/15/2014 - 10:29 | 5097359 mastersnark
mastersnark's picture

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

Fri, 08/15/2014 - 10:34 | 5097390 q99x2
q99x2's picture

Could be the single remaining indicator that is not faked.

Fri, 08/15/2014 - 10:45 | 5097462 starman
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.

Fri, 08/15/2014 - 11:54 | 5097970 buzzsaw99
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.

Fri, 08/15/2014 - 13:40 | 5098600 blown income
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

Fri, 08/15/2014 - 13:40 | 5098601 blown income
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

Fri, 08/15/2014 - 13:41 | 5098602 blown income
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

Fri, 08/15/2014 - 11:25 | 5097798 Oldwood
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.

Fri, 08/15/2014 - 13:28 | 5098525 B190769Sonny
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

 

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