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UMich Consumer Confidence Rises On Surge in "Hope"
While the government Conference Board confidence measure remains the most exuberant, University of Michigan Consumer Confidence continues to tread water. August final print rose to 82.5 from the preliminary data (79.2) driven by a surge in "hope" from 66.2 to 71.3 mid-month. Short-term inflation expectations fell on the month. Despite exuberant all-time highs in stocks, UMich has been flat for the entire year and is now at the least exuberant relative to Conference board data in almost 7 years.
A beat but flat-line all year
Conference Board exuberance is near a 7 year high vs UMich...
Charts: Bloomberg
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Reasonable...you can live 3hrs without shelter, 3 days without water, 3 weeks without food, but only 3 minutes without Hope...so thats where we are at...
Hope as a plan is hopeless. failing to plan is planning to fail. hope is good; but not as a plan. can kickers have hope as a plan.
Obummer tells the professors to sell HOPIUM and they oblige. The USA is now a land of parallel universes, many isolated by light years from the stinkin' carcass that is now the American economy. Liars' statistics and bogus press releases don't change the hard facts of life: tens of millions of American middle class jobs have left the building and they won't be coming back any time soon.
The kids just went back to school. The parents are hoping for some peace and quiet.
You're about to start another running gun fight about home-schooling, you realize.
"Don't be cynical. Hope is better."
Nothing screams "hope" better than the U Mich Confidence Report... and Detroit water shut-offs.
wow...Hope, huh? Well fuck it then. Mission accomplished for the asshole in the White House. He's already produced the fundamental transformation or "change" that he wanted. Now he's got hope too? I guess this whole thing has been a tremendous success. Forward!
State Lotterys and Marriages are built on 'Hope'.....
They must be hoping for their savior to rescue them.
Folks, we have hope.
I wonder how they measure "hope". Is that in grams, yards, standard deviations, celsius, hectares or what?
They measure 'Hope' the same way you measure a cats tail...from the asshole up!
EVERY piece of economic data must be manipulated. You are hereby ordered to be optimistic no matter how corrupt the system has become.
Give me a break, they're only setting the numbers up for the election.
Title should read:
"UMich/Reuters rises because Reuters got a call from one of it's daddy's (big banks) requesting an 82+ print"
I know a guy that use to get the data for the U. He told me he calls the same CEO's every month and asks them how are things with their company. And that how this CONFIDENCE number gets created. If the CEO had a bad day or wasn't getting any from his wife, he confidence was lower. They DON'T call every day consumers. I could tell when it was bad that's when he drank scotch, when it was good he drank beer. LOL
Stupid ass Wolverines. Who needs 'em?
Go You Nittany Lions !!!!
Wolverines do make a nice parka hood liner, since the fur doesnt frost...just looking for a benefit here...
"August final print rose to 82.5 from the preliminary data (79.2)"
i mentioned on the prelim date that they freakin' do this every month. their models are fucked up something fierce. dips mid-month, gets fixed by EOM. like clockwork. who hasn't been paying attention to this? it's been happening for months, if not nearly 2 yrs, on end.
the blue and gold really put the CON in confidence... on a monthly basis, no less, lest you forget to be confident half-way through each one.
There’s hope, and there’s hopelessness.
Quite a contrary view to the Michigan study comes from the John J. Heldrich Center for Workforce Development at Rutgers University. SF Chronicle Columnist Andrew S. Ross today summarizes the Heldrich survey:
“Seven in 10 believe the U.S. economy has changed permanently – for the worse.”
Writes Ross: “Five years into the economic ‘recovery’ (the survey of 1153 Americans was conducted between July 24 and August 3), the vast majority don’t believe the economy has gotten any better despite reassurances to the contrary. They believe their children are going to have it even harder—and think there’s nothing the federal government can do about it…
“New post-Great Recession jobs—the majority of them in low wage sectors—‘pay an average 23% less than the jobs lost during the recession,’ according to a U.S. Conference of Mayors.”
These Americans losing hope should come to realize that there is something the government could do about their children’s economic future--end the Fed.
Again - - The Conference Board is not a government agency. It is a private NGO funded by large corporations.