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US Economic Confidence Crashes Most Since July To Lowest Since December
Despite record-er stock prices, weather excuses for current economic weakness, and The Fed promising that growth is here and everything will be awesome, it appears the message has not reached the US Consumer. Gallup's U.S. Economic Confidence Index plunged 9 points last week (the largest week-to-week drop since last July) to its lowest weekly score since December. The main driver was a collapse of hope as 'outlook' fell to November lows.
Americans' Ratings of Current Conditions, Economic Outlook Both Down
Gallup's Economic Confidence Index is the average of two components: Americans' ratings of current economic conditions and their views of whether the economy is improving or getting worse. The theoretical maximum of the index is +100, if all Americans say the economy is "excellent" or "good" and "getting better." The theoretical minimum is -100, if all Americans say the economy is "poor" and "getting worse."
For the week ending May 3, 24% of Americans said the economy is excellent or good while 29% said it is poor, resulting in a current conditions score of -5 -- down four points from the previous week and the lowest current conditions score since December. The economic outlook score saw a sharper drop of eight points, to -12 -- its lowest reading since November. The latest outlook score is the result of 42% of Americans saying the economy is getting better, and 54% saying it is getting worse.
The recent dip in Americans' economic confidence -- which is being dragged down largely by the lower economic outlook component -- is likely the culmination of a variety of economic factors.
Though stocks rebounded by last Friday, the previous week had been fraught with market losses in the Dow Jones industrial average and Standard & Poor's 500 market indexes. Meanwhile, the prices Americans were paying for gas increased in the latter half of April, with the U.S. Energy Information Administration reporting an increase of 17 cents per gallon over two weeks. Gallup has found that Americans' confidence in the economy is related to how much they pay at the pump. Additionally, the recent report that the nation's GDP grew a lackluster 0.2% in the first quarter -- a disappointing figure compared with previous quarterly growth -- may have dampened consumers' economic hopes.
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Maybe Hymie flooding the country with H1Bs, maids and landscapers had something to do with it?
"Though stocks rebounded by last Friday, the previous week had been fraught with market losses in the Dow Jones industrial average and Standard & Poor's 500 market indexes."
Yeah, one percent off of ATHs just doesn't cut it for economic confidence I guess. These people are fucking idiots.
How can you believe anything in the news. Silicon Valley bigshot Dave Goldberg is supposed to have died after a runaway tread mill sent him flying. Joan Rivers calls Michelle O a tranny and Rivers dies in a bizarre medical accident. Michael Hastings new Mercedes spontaneously bursts into flames and its engine goes flying 40 feet on 18 June 2013, and the LAPD makes sure not to test for explosives and Hastings' body is cremated without parental permission. Paul Walker's car also blows up into flames on 30 November 2013, proof that Hastings' accident was almost commonplace, according to our Fuhrer's hencnmen. But then there is Katherine Smith's accident, where her car blows up in a ball of flames one day before she is to give testimony in February 2002 on her role in providing Tennessee driver's licenses to guys who almost certainly sabotaged the World Trade Center sprinkler system and probably also planted RDX explosives in the stairwells. http://911review.org/Storage/Katherine-Smith-9_11.html. Smith's murder is still unsolved, unlike like that of Dirk Hale, the Hollywood, Florida cabbie killed two days after Smith, a cabbie who was the next door neighbor of 9/11 hijacker Atta for over two months in June-August 2001. Hale's car, like the three other death cars, veeered off the road and crashed, his dead body inside. Goldberg is just another murder victim whose death gets covered up.
"When in danger, or in doubt....run in circles....scream and shout!"
Well, shake it up, baby, now (Shake it up, baby)
Twist and shout (Twist and shout)
C'mon c'mon, c'mon, c'mon, baby, now (Come on baby)
Come on and work it on out (Work it on out)
Well, work it on out, honey (Work it on out)
You know you look so good (Look so good)
You know you got me goin', now (Got me goin')
Just like I knew you would (Like I knew you would)
Well, shake it up, baby, now (Shake it up, baby)
Twist and shout (Twist and shout)
C'mon, c'mon, c'mon, c'mon, baby, now (Come on baby)
Come on and work it on out (Work it on out)
yahoo-The tight trading range in the stock indexes this year has flummoxed investors. But the stalled rally is probably a good thing in forestalling bubbly market conditions from emerging.LOL
Short the fucking lehman.
Love the One You're With
http://www.youtube.com/watch?v=_5IVuN1N6-Y (3:04)
Goldilocks if i never see that bitch again it'll be too soon. Only kidding well half kidding, ok i'm dead serious.
USSA Economic Confidence Crashes . . Am new to the game so is that a Good or Bad Omen?
Ok good for stawks bad for Joe Public. Got it, i think.
But this time is different cuz weather
Meanwhile over at the DOJ & Digital Currency ..
Department of Justice Office of Public Affairs FOR IMMEDIATE RELEASE Tuesday, May 5, 2015 Ripple Labs Inc. Resolves Criminal InvestigationRipple Labs Inc. and its wholly-owned subsidiary, XRP II LLC, formerly XRP Fund II LLC, have agreed to resolve a criminal investigation in exchange for a settlement agreement calling for a series of substantial remedial measures, including a migration of a portion of Ripple’s virtual currency business to a separate entity, the company’s ongoing cooperation in other investigations, an extensive remedial framework to ensure future compliance with federal laws and forfeiture and penalties totaling $700,000, announced U.S. Attorney Melinda Haag of the Northern District of California, Director Jennifer Shasky Calvery of the U.S. Treasury Department Financial Crimes Enforcement Network (FinCEN) and Chief Richard Weber of the Internal Revenue Service (IRS) Criminal Investigation Division. The agreement will resolve allegations that Ripple and its subsidiary failed to follow the law while engaging in the exchange of virtual currency and that the entities failed to establish and maintain an appropriate anti-money laundering program.
Ripple Labs Inc. is headquartered in San Francisco, California, and developed and sold virtual currency known as “XRP.” As of 2015, the currency of the Ripple network, XRP, is the second-largest digital currency by market capitalization.
When I loose confidence in the economy, I go to the Radio Shack store near my home. Sometimes a Sears. And occasionally a JC Penny's. I'm off to one of those now.
Liberty is a demand. Tyranny is submission.
Luckily, confidence is a perception that can easily be manipulated by our benevolent leaders, and as they do love us so dearly will happily dial that little meter right back up. As in the Matrix, they understand that a constant level of confidence would not be acceptable over any long period, so they deliberately create cycles, or waves of highs and lows.
Its a manic depressant world.
All I need is to turn my frown upside down. Maybe something nice for myself on credit. That would do nicely.
The American Curse >>> http://wp.me/p4OZ4v-3z
Rising petrol prices could account for most of the negative sentiment, no ?