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Consumer Confidence Surges Higher As 'Hope' Trumps Reality
Following February's drop from 'recovery' cycle highs (which has now been erased by previous revisions! why are confidence measures seasonally-adjusted anyway?), despite surging gas prices, terrible economic data, and dismal weather, March consumer confidence explodes higher. Printing 101.3, massively beating expectations of 96.4, this is just shy of the cycle highs in January. Of course, it's all hope... the present situation index actually dropped notably from 112.1 to 109.1 as future expectations surged from 90.0 to 96.0, but fewer people plan to buy homes or major applicances in the next 6 months.
Bounce...
As Hope trumps reality once again...
Charts: Bloomberg
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CNBC analysis on this mornings economic data:
PMI miss = weather
consumer confidence beat = strong fundementals due to obama economic policy
I "hope" that Dear Leader Obama doesn't finish the "change" of the U.S. into a third world socialist welfare state.
Hope...
Change...
Nightmare.
Consumer Confidence Surges Higher.....but fewer people plan to buy homes or major appliances in the next 6 months.Ummm.....never mind.
I'm VERY confident that I'll be spending less. Confidence is up!!!
% Respondents Saying McJobs Easier to Get
% Respondents Saying McJobs Harder to Find
% Respondents Who Are Employed and Over 55 and Just Want To Talk To Someone and Are The Only People Who Respond To Survey.
Maybe we could get an honest reading if the survey didn't include dudes with electrodes hooked up to their testicles in front of a trigger happy proctor?
Hope is not a strategy.
In new America, despair is hope!
State department rep:
"It's all Putin's fault!"
WTF " consumer confidence"...
It's spring and people are buying underwear and sandals...that's all, nothing more...."consumer confidence" ! What a fuc**ng misnomer.
Consumer bullshit survey...yeah, it's getting deeper...
As John Crudele (sp?) in the NY Post has shown with articles featuring whistleblowers exposing government data reporting, these surveys are quite likely made up out of whole cloth.
Or maybe the few actual respondents included a Mrs. Lloyd Blankfein and a Mrs. Jamie Dimon and, gosh, things look just great to them!
Hope doesn't control code and algorithms though, wished it would though at times:) Here we go again with people confusing virtual world values with the the real world. It's not the consumer's fault either as we get marketed to believe any old numbers tossed out there.
http://ducknetweb.blogspot.fr/2014/03/virtual-worlds-real-world-we-have.html
Quant Paul Wilmott says it best in this video clip, 99.9% of financial models don't include the "real world", and that you can bank on...100 bottles of beer..
http://ducknetweb.blogspot.com/2014/04/it-will-never-be-100-bottles-of-beer.html
my confidence is high:
i'm sure the economy is going to get worse, at least at my level, for the foreseeable future.
as for the household, we're buying only the essentials: food, ammo, reloading components, etc...