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Record Stocks & Plunging Gas Prices Send Consumer Confidence Tumbling, Biggest Miss Since June 2010
With business confidence at post-crisis lows (in the US and around the world), it is hardly surprising that consumer confidence would fade and at 88.7 (vs 96.0 expectations), this is the biggest miss since June 2010. It appears last month's exuberant surge/beat was anomalous as we tumble from 94.5 in October, in spite of tumbling gas prices and record high stocks... The drop was largely driven by a slide in 'hope' as expectations fell to the lowest since June. Labor, employment, and business conditions all dropped.
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As long as Apple is bid. We are gravy
Http://www.hedge.bz
I just can't see how this isn't all because of the snow. It's gotta be the snow, right?
Fucking snow...
This is all the enviro-Nazi's fault. If they hadn't cured the world of global warming and created climate change NONE of this shit would be happening right now.
FUCK YOU, AL GORE!!!
Just remember"Consumer Confidence" has nothing to do with consumer confidence...
Huh... Lower gas prices usually make consumers happy...
Yeah, all those fired workers at Cliff's, Walmart and restructured/furlough'd are all going to be taking advantage of cheap oil prices to buy buy buy.
Said it a few weeks ago, something was lying: either the economic confidence reports or the oil price. Oil is a leading indicator, I would argue its even faster to the punch than even the bond markets. Consumer and Corporate confidence is only going to stall out from here, if you look at the non-luxury retail nearly all the productivity gains were done over 2H14 in Texas/Loui/ND. If you look at the traffic and same store sale footprints for east coast USA, ex-NYC & Chicago, I suspect most of the US is in a consumer recession.
Strongly doubt the Fed will be able to stand on the 2H15 backhalf rate hike knowing 2016 is going to be the leading edge of a recession.
The delicious irony in all this is Barry is going to be crucified for Vet. placement into the workforce, US structural unemployment, employment skill mismatch and the immigrant amnesty compounding effect on wage/skill blockage.
We have seen immigrant disruptions like this twice in US history, once after the Irish famine and the second (on a smaller scale) in the Cuba prison/Florida exodus. Neither added much value until 10 years after the migrant wave trickled. So any net improvement to labor wages will not come until maybe 2025 now. Looking forward to the next Scarface remake, using an Argentinian vs. a Cuban or Irish/Italian.
Proving once again this is all just irrelevant made up bullshit.
But. But. But. Buttfuck
toady
The price of a barrel of oil dropped but the price of a gallon of gasoline took a long time to fall.
Maybe it is refiners are happy... consumers wait your time...
Less "hope"......
That actually makes sense, from a certain perspective.
Gas prices have fallen dramatically. If you had "hope" for lower gas prices at $90/bbl why should your "hope" increase as oil falls to $70/bbl? You already got what you "hoped" for.
Stock market hits another string of all-new highs. If you had "hope" for higher stock prices and you got exactly what you "hoped" for, do you expect it to continue upward at an ever-accelerating pace or do you start to have doubts that you already got a big chunk of the gains you were expecting?
I "hope" that Wall Street remains long on phucking everybody... then goes on the television to proclaim "fuck you" and call it "the news."
No wonder Israel is doing so well.
Bwhahahahaha. "Islam. Its whats for dinner!"
Keep those riots coming. Keep telling everyone to be peaceful while pocketing the difference.
Maybe they can build a new industry around riots.
Al Sharpton and Jesse Jackson are on it like flies on shit....
There has to be some bad news every now and then folks...lol what a shit show
Please answer positive, negative, or neutral:
Q: How are current business conditions?
A: They positively suck.
Q: Anticipated business conditions for the next six months?
A: I am positive it will suck worse.
Q: Current employment conditions?
A: I gots no job and no money but I am positive that I kin git credit somewhere.
Q: Employment conditions for the next six months?
A: I am positive that I will not apply for a job.
Q: Total family income for the next six months?
A: About the same.
Score 119
There was hope because a lot of idiots thought the election meant something.
Silly Rabbits.
It did mean something but not what they were thinking.....
how do plunging gas prices tumble consumer confidence?
BS it's all BS.
no jobs > no money > no confidence > no brainer
When Wall St. is the consumer it makes perfect sense.
My friend's girlfriend: Just got her degree, had an A average, number two in the graduating class. Was told by her professor she's s shoo-in for a six-figure job. I talked to my friend today, asked how she's doing. Turns out she's NOT getting that six figure job after all, and no prospects of any other job, either. But she DOES, thank God, have that LOAN that she has to start repaying, and it will keep her company for years as a reminder of how she can CONTRIBUTE to the educational system and the government by paying all that money and INTEREST. Her consumer confidence? Haven't asked her yet.
tumbling gas means more money in my pocket, how much is gas without all the added taxes?
Lucky for you that the federal gasoline tax has not been raised since 1993.
Gas prices what? They were 1.50 a gallon in 1999. Nough said.
What the fuck is wrong with everybody? When there is more of a product, it sells for less...
All of these prognostications from doomsayers are just horseshit.
From the BBC...
"The US economy grew much faster in the third quarter than first reported, official figures have shown.
It expanded at an annualised rate of 3.9% between July and September, up from the 3.5% first estimated by the Bureau of Economic Analysis.
The rise, which follows a strong second quarter, means the US has seen its strongest two consecutive quarters of growth for a decade.
Consumer spending was the biggest driver of the raised estimate.
It grew by 2.2% according to the latest estimate, which was higher than the initial calculation of 1.8%."
http://www.bbc.com/news/business-30191076
WTF?
HOPE AND CHANGE, baby, HOPE AND CHANGE!
Well, there's no hope and all I got is small change.