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From Hope To Nope - Consumer Confidence Crashes To 14-Month Lows
Just three months ago Consumer Confidence was peaking at 8 year highs and everything was awesome. Now, with the biggest miss since March 2009, Consumer Confidence crashed to 90.4 from 99.1. This is the lowest since Septmeber 2014 as the "decline was mainly due to a less favorable view of the job market." Almost every cohort - across age, income, race saw a collapse in confidence though we note low income and under-35s saw the biggest declines as Income Growth expectations plunge to the lowest in 14 months.
That was not supposed to happen...
“Consumer confidence retreated in November, following a moderate decrease in October,” said Lynn Franco, Director of Economic Indicators at The Conference Board.
“The decline was mainly due to a less favorable view of the job market. Consumers’ appraisal of current business conditions, on the other hand, was mixed.
Fewer consumers said conditions had improved, while the proportion saying conditions had deteriorated also declined. Heading into 2016, consumers are cautious about the labor market and expect little change in business conditions.”
Charts: bloomberg
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More reason to raise rates? Suerly the higher cost of money by those losing work or impoverished by this group in DC and at the Fed will help their moral. Right?
Grammar police alert: "Morale" not "moral."
Those snot-nosed, jobless 35-and-unders don't have landlines anyway so who cares what their employment outlook is? They will never show up in a .GOV employment survey.
Well, 8 years of crushing inflation has a way of doing that.
STALL...BWOOP...BWOOP...STALL...BWOOP...BWOOP...STALL...
"less favorable view of the job market"
yet Unemployment Rate is 5% - what is great about this report is very few believe anything the government publishes factually and the MSM promotes
This election is completely up for grabs - Trumps strength is candor -
when he speaks about Jersey City cheering squads - he doesnt say "Dancing Israelis" but the subtext is there. Fascinating
Fear not... If there is but one scintilla of 'anti-semitism' to be dredged up anywhere on this guy - well, you know the rest --
to quote Morrie from Goodfellas: Fuck 'em in the ear! Fuck 'em in the OTHER ear!
Did you ever wonder...
Why there's not a 'Producer' confidence (Savings & Production) model, as opposed to the ubiquitous $Spending and $Consumption' model that we're supposed to think as normal & good...?
'Consumption' as a leading indicator is a Perverted construct to begin with, because over time, it goes nowhere but south.
But but consumerism and the service industry were to save this country - now what
I have all the confidence that the country is screwed - maybe in eleven months we can start to undo all this shit that obummer has dropped on us.
edit - I forgot that negative interest rates will make us spend again - thank you up there
GDP included all .gov spending. So all we have to do is let the gov take over all spending and we can ramp GDP up to 100% growth. consumers will be happy, taxpayers will swooon with delight.
Consumerism on afterburners is one of the most destructive cultural + economic diseases in the USA - and it is promoted by the regime.
All that chart proves to me is... most people are clueless fools living in massive denial of the in-progress world-wide economic collapse.
I guess they all watch mainstream media.