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UMich Consumer Confidence Tumbles To Lowest Since October, Worst Drop In 4 Years
Despite rising modestly from the preliminary print, UMich Consumer Sentiment for September finalised at 87.2 - the lowest since October 2014. This is now the biggest 8-month drop since 2011. Inflation expectations fell modestly as "hope" fell to the lowest level since September. Household Income gain expectations continue to slide (now just 1%) back to 13 month lows.
The exuberance is over... (unchanged since the end of QE3)
Charts: Bloomberg
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Two more earthquakes under Cushing last night, one of which was 4.0
Yellen's speech goosed the market and now we have new "data" to justify a delay. Weird huh?
Although it's difficult to understand how a rate hike is good for the market.
It's all as pure as the wind driven snow......
Since Lehman?
Well Yellen just had a mini-stroke when she committed to a rate hike so that should help fix CONfidence.
I was pretty "confident" when I woke up this morning but then on my way out had to stop at WalMart to return something my cousin bought.
OMG! What a crowd, even at 9am. I am assuming they walked here from under the hwy overpass or their Section 8 hovels ... all disheveled, grimy, sneezy, flip-flopped and some bare footed humans.
Now I am depressed. Our nation is sinking fast under the dung heap. I am sorry to say but it's the truth even though not very "politically correct."
I am no longer confident th enation can overcome these probelms given the present leadership.