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Despite Plunge In Spending, Consumer Confidence Jumps To 7-Year High
The final UMich consumer confidence print (after preliminary 86.4) is higher again at 86.9 - the highest since July 2007. Ofcourse hope rose - future expectations up from 75.4 to 79.6) while current situation dropped (98.9 to 98.3)... as we all know escape velocity and wage gains (despite tumbling spending and slowing income in reality).
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The futures so bright I gotta wear shades.
It's all good until the EBT network goes down.
It was due to the $20 social security COLA that was recently announced
Mid term elections decoration....the markets are going to sky till early 2015 at least...i mean we got Halloween tonight, 'Thankstaking' soon and then its Christmas season and you know I am expecting my new Iphone and accessories as a gift.
The consumer is a dumb fucking cow
What an insult to cows
Christmas has been renamed Consumermas.
It's inclusive that way, since everybody in America belongs to that religion.
Frontrunning Republican gains now, then a Santa Clause rally later, you may be right. I'm thinking "sell in May and go away" could be more important than ususal next year.
Purely a coincidence that mid term elections are next week...
Wait for the downward adjustments to all the 'good' news - AFTER elections of course. We live in a world of porpaganda. NYT going on about DEFLATION woes - blatantly ignoring the redefining of CPI numbers into uselessness and the very real INFLATION you see every day in the grocery store. You've got DEFLATION in all the things you DON'T need while inflation is occurring with the things you DO need (with the exceptionof oil at the moment thanks to massive pumping by the Saudis as part of US efforts against Russia and all the 'bad' Muslims)
Yes, yes, because a 451 FICO gets you a new vette.
wouldn't surprise me a bit.
yes, cheap $ and easy credit does wonders for the psyche. all I can say is anyone who loves this sand castle deserves to get washed away with it.
I say its time to run up the BS flag. Actually its overdue.
Don't confuse BS with conscious attempts to control behavior ....... MOPE - management of perspective economics - controlling what people think and see to influence their behavior.
It must be I still see alot of people in new cars all over the place, smells like 2007 all over again right before the big one.
Cars
Electronics
Appliances
Furniture
Anything will be financed now to hold up the numbers. Low FICO? All good! They make way more on those deals.
Buy Mortimer, BUY!!
Buy what?
EVERYTHING!!
NoD, going to be an interesting EOY prospectus heh?
C'mon, baby ONE more quarter. Just ONE more!
Yeah, just pray you get through the holidays at this point...
They've been faking it for so long they don't know what a REAL recovery feels like......
Is every article this morning written by MDB? I feel like I'm living INSIDE an MDB post right now.
It does feel like we have entered the Twilight Zone. Some think they can keep the charade going into 2015. We're not so sure. JPM lost 41% of their gold reserves over the last WEEK. Look for them to crank up ebola to 11 immediately after the elections. Then there's the Swiss vote, which could be a financial Krakatoa.
It's nice to see the CON is back in the confidence game.
It's paradoxical ... sort of like some of Freeden's comments.
[but i think it has to do with high levels of lithium in the drinking water + EBT bonus cards]
they can't offload all the garbage without convincing the sheeple that things are getting better and it's time to buy. just remember what happened in 2007 and who was holding the bag in 2008. "expectations are for another banner year"
Michigan must be a nice place, things sure dont look good here on the east coast....
When I look at the presentation for CMS Energy (Michigan utility) the numbers they list for economic activity in MI seem suspect to me. anyone else seen this?
Maybe they are confident because Hussein Shinola Ebola is about to get tossed on his ass.
I just sold my overpriced condo that I couldn't make 1% ROI on to a guy who is going to "gut the place" and put 150k in renovations to rent to the same people that have been coming here for the last ten years. Every available lot (beach area) has a house starting on it in excess of 1 million. Makes no sense.
To you and I no.
To the Banksters, yes!
I think it's time to show a graph juxtaposing the S & P 500 with consumer confidence. And another between gas prices (inverse) and consumer confidence.
s&p 2014
DP
All I hear is Idiocracy - Yeah, I like money. Chart consumer confidence with incidence of head injury for fun...
I'm waiting for California to announce a solution to their water problems and passing a law requiring farmers to water their crops with Gatorade.
yellen has a sex tape
film at 11p
The poll consisted of a random sample of Banksters and their minions around the Hamptons. Then they just add in a bunch of sampled randomly government workers and contractors in a 50 mile ring around Rome on the Potomac. For the final act, survey some very carefully vetted and certified as idiot level intelligence random members of the FSA from sea to shining sea to get a perfect sample of our corporatist modern USA.
Fuck the middle class!
Consumer confidence high.. yet we are still staring down deflation. Gee. Hmm. Almost like something other than a willingness to consume is reducing the velocity of money. (Hint: taxes and interest payments via high household debt levels are eating away at people's real ability to consume.)
Somebody get me zombie-Keynes on the phone. Looks like his moronic school of thought is only right a small fraction of the time.
The trouble with polls...They never ask the right questions. What IS "consumer confidence" anyway? The pollsters assume that means they are ready to go shopping. But maybe they're confident because they're starting to get the idea that deflation IS a real possibility?
In that case, they'd be holding onto their money and waiting. Paying down some debt, if they can. Neither of which puts any money into the hands of the market. No velocity there. As a consumer, I see falling gas prices and wonder how that will filter through to other things. I also wonder how desperate retailers might get this holiday season...might pay to step back, wait things out a bit. Caution is the word.
Well it's true that polls can frame or present information incorrectly. Or be subject to all sorts of bias.
However, do you see a willingness to not consume around you in day to day? I live in a city. People are still out spending and living it up like everything is great.
Deflation is here because people simply have less disposable income after debt payments and taxes.
We're on a long-term trajectory for feudalism. A society of braindead consumers shuffling to our own enslavement.
Here's a poll for the average dumbed down individual:
If you won the lottery jackpot tomorrow, would you?
A) Spend it all. (Because nobody lives forever!)
B) Invest it into something genuinely productive.
C) Pay down outstanding debts and then spend it all.
How many do you think would pick B?
Living in a city may give you a skewed idea of spending patterns. Because retail tends to congregate in high-density areas, you are also drawing from outlying areas. People will still shop, even in a sharp downturn, and those that do will still keep your stores fairly busy. It will be harder for you to see the magnitude of the downturn until it gets REAL bad.
You need to go to those outlying areas and see the empty strip malls, the For Rent signs on empty storefronts, the painful lack of activity in the small business districts.
In answer to your question, keep in mind that people tend to act in their own interests (and keep Occam's Razor in mind when you're talking about human nature), and will adjust to most circumstances. So, of course they wouldn't pick B...what sense would THAT make in today's economic environment?
Why would anyone be surprised that those folks would choose an option most likely to benefit THEM?
For those who presume to govern, the obvious solution would be to figure out how to make the 'B' choice the one most likely to benefit that person. Then, he will CHOOSE that. And there ARE ways to do that, but too much resistance to doing them.
Question in the survey now weighted 100%:
"I plan to spend much more in the coming 4 quarters" choices: Very Likely, Most Definitely, For Sure, It's a Lock
FULL RETARD! Just like flipping houses to the moon. The FED never saw it coming!
Wait till it is 110% confidence!
https://www.youtube.com/watch?v=1aXpty_1xo4
I know I'm preaching to the choir and therefore stating the obvious, but these macro data points that come out one day negative, the next day positive, make absolutely no sense at all.
I've been out of the market for the last 2+ years, I know I've missed upside, though I haven't missed the upside of being able to sleep at night. I just seems that this a ponzi that will never reach the inevitable conclusion......
The pervasive feeling right before capitulation, you're not alone.
All financial polling data is fraudulent; in other words IT'S ALL LIES 24/7 365 days a year. Every single government statistic from GDP to INFLATION to UNEMPLOYMENT. Why even discuss it? What is it within US that is so infatuated with this lie machine and its product? Is it entertaining? The entire engine of plunder and its success in plundering us is founded on this structure of LIES. IF we know this and do not take action, what is our problem?
Are willing victims........really victims?
Consensual sex is not rape.
The US public are a bunch of submissive masochists - getting reamed with a splintered telephone pole over and over and still asking for more....
seriously.... 'free trade' sends all our jobs overseas, market crashes steal your pensions, 401K's and savings, while gov rewards the looters and thiefs...
Yes, I believe that they actually conducted this survey and that these are the actual results of said survey.
/sarc
I would actually feel better if the numbers *were* lies. What really frightens me is if the survey is genuine.
The sheeple are the ultimate contra-indicator. If with all the things going in the financial world, in Ukraine, in Syria/Iraq, and in Africa with Ebola they still genuinely believe things are getting better, it means we are doomed.
Prepare for impact...
Today's other story:
http://online.wsj.com/articles/u-s-consumers-cut-spending-1414758842
Even if it was real, it's a lagging indicator. When the croud is in good mood - time for big money to sell.
As a consumer, I am confident that I am not spending anything. Paradox-no-more.
a con game isn't a con game unless your caught.
same as unemployment numbers in 3rd quarter in election years, there is at least 250,000 tele-marketers, and repeat voters hired.
a con game isn't a con game unless your caught.
same as unemployment numbers in 3rd quarter in election years, there is at least 250,000 tele-marketers, and repeat voters hired.
nsa provdes contact #'s for Umich.