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Janet, It Didn't Work - Personal Finances Confidence Collapses At Fastest Rate In 3 Years
All the hopes and dreams of bringing back the over-debted, over-consuming American Dream had rested upon The Fed's ability to 'stimulate' confidence via pumping equities higher to 'prove' everything is awesome. For a few years it seemed to work... until 2015. As Bloomberg's Consumer Comfort survey shows, the last 2 weeks have seen Americans views about their personal finances collapse at the fastest rate in 3 years - falling to 10 month lows (despite near-record high stock prices).
Personal Finance Comfort collapses to 10 month lows, decouples from stocks...
This is confirmed by Gallup's economic confidenc collapse to its lowest in 10 months...
Janet - it didn't work!!
Charts: Bloomberg
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The new depression
I had a conversation with a woman who co signed her son's student loans (100k). He has a biology and toxicology degree and can't seem to find a job paying him more then 25-30k to start. The thought of working for such a low wage after the hard work and debt has put him in a real depression. Sad. f^&^in Bankers
Yes, but remember he will actually have to work to provide something of real value...
In modern finance (where money creation no longer requires real collateral) bankers and financiers no longer have to actually work or face real risk (thanks to bailouts). They are in fact nothing but useless, overcompensated, paper-pushers stuck between the computer/printer (where "money" is now created) and the producer/consumer in the real economy.
Eventually, the middleman gets eliminated, period.
Same as it ever was, evolve or die motherfuckers...
check out the Lowe's and Home Depots. dead day in day out. it's serious.
As Boomers get closer to the retirement/forced retirement wall the reality of their finances becomes clearer and their hopium becomes de-hopium.
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The Fed, needing to do something but can't, is in the media cover your ass mode. Mandates have them trapped as they look for any reason to raise rates and will. In the mean time they continue to gift free interest money to major money market funds through reverse repo's.
Working in a fast food restaurant in NYC full time now pays $30k / yr. I can understand his depression. But gotta start somewhere. It's what I made in my first professional gig.
Yeah my heart bleeds for him. Join the club and get inline bitch.
This generation of graduates is getting completely screwed.
1. Indoctrinate young people with the mantra that a college education is essential to a decent standard of living. Higher education becomes insanely overpriced due to the easy availability of huge govt backed student loans. Even allow students to 'earn' degrees that are totally unmarketable in the real world...
2. Because of their massive student loan debt, the new grads need to make a decent wage in order to make ends meet.
3. Corporations (who are nearly all solely bottom-line focused), pay the politicians to flood the country with cheaper labor via open borders, more work visas, and more green cards.
4. Johnny or Jane, with their shiny new degrees from an American school, cannot find a job that pays a sufficient amount to service school loan debt and basic expenses. Johnny and Jane become debt slaves...
At least 75% of those attending University or even Graduate School probably shouldn't bother. It'll prove to be a very poor investment. Hopefully, more and more people will begin to figure this out.
Niiice system! U S A !! U S A !!
Need moar cowbell, and if that doesn't work another dose of QE heroin just might.
every junkie is just one hit away from an over-dose, will janet try 1 hit or go for 2 ?
Oh? Really? It's all working according to plan. To the protocols. More and more wealth is being transferred to us everyday.
Talmudic Janet
The Trump Effect
He's been pretty honest with people about the (disasterous) state of affairs, how the press sugar coats things, etc...
Was thinking the same. When the peeps wake up and smell the coffee it will get ugly before it gets better.
and both sides of the aisle are pushing for that to occur.....trump is just highlighting the fraud which might wake people up and farrakhan is pushing murder.
Oh it works for some...
For everyone else, it may be time for a serious refund or retribution...
The refunds have been spent. Retribution might pull in some revenue for it though, if we charge admission to watch.
Hey...look at the aquirrel....nothing to see here...https://www.youtube.com/watch?v=5NNOrp_83RU
Let me see, what wealth transfer vehicle ended in October 2014..... 10 months ago? What bond buying program could it be?
Let's do an audit to confirm it ended. Wait a minute...
No need to audit the fed. They are being completely transparent and honest. Don't' tell me you are skeptical of the sweet old lady in charge. Better not let her find out, she may not bake you a cookie.
Janet is like a grandma's name. It sounds so old and innocent. Janet is also used for JANET AIRLINES. How does one say print more liquidity in central banker (Janet's) language? We dont need audits when we can have more QE pronto
It's working exactly as they planned.......
I know all to well what this means...
I just got my visa bill from my vacation...
It's about twice as much as I tought it would be...
They luv you.... all that fresh click money you brought into 'the system'
The consumer confidence graph indicates there is growing concern about the upcoming presidential election. People are getting worried because they keep seeing all this crazy shit about Donald Trump in the news.
Postpone the normalization of interest rates a little more! Now that we kicked the can with the IMF yuan inculsion decision to Sept 2016 lol. This must signal some juicy QE on the way sooner than later,. What are we gonna be at QE 5 or QE 6? Do we include Operation twist 1 and 2 or no?
How does one over indebted deadbeat (government) instill confidence in 300 million over indebted deadbeats?
Unlike government thieves,,, the 300 million have to have decent yobs to pay down debts. But not according to the POS government and the even bigger POS Fed.... Nope,,, just print up more counterfeit to give to the uber wealthy corporations which will make americans 'feel' better and take on more debt they cannot pay back.... huh?
Course the Feds are exuberant! They now own over a trillion in real assets they purchased with their shit fiat and they won't be happy until they own it all!
Time to crush gold and slam the VIX!
Hey look everybody(!)...Caitlyn Jenner-Kardashian!!!!
I wouldn't call that chart a "collapse" but your point is valid.
I want to, I want to, I want to take you higher
I want to take you higher
Baby, baby, baby light my fire
I wanna take you higher
Boom laka-laka-laka, boom laka-laka-laka boom
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