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Consumer Confidence Collapses From 59.2 To 44.2: Lowest Since April 2009, Hopium Ends As Outlook Crushed
August consumer confidence plummets from 59.2 to 44.2, far below consensus of 52, dropping to its lowest level since April 2009. But, but, two insolvent Greek banks merged yesterday to make a really big insolvent Greek bank. Oh well: Americans don't care. And even uglier is the 6 month outlook chart which collapsed from 74.9 to 51.9, one of the biggest monthly drops in history. This sets the stage for the ISM, for NFP, for further GDP cuts, and for September 21.
Current conditions:
Expectations:
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2008
2008....except gold explodes higher.
And your two junks?
Courtesy of RoboTrader and Hamy Wanger.
Anyone who cared to take a look out of their tinted limousine windows could have saw this coming. Yet the market jumps off a cliff...
We are right on schedule. Puzzle filling in nicely now.
The puzzle will be filled in then ignored.
with a 1930's reference picture.
Except for that one piece lurking behind the sofa.
If you plot the Conference Board Expectations Index vs. the Non-Farm Payrolls the picture looks almost as ugly as the one with the Philly Fed last week, pointing to an NFP figure of -450K on Friday.
+18K
doa
Winning!
yaay!
collapse, bitches!!
Ugly
We've started the Cliff Diving phase of the downturn.
From the peak of the Matterhorn, and the snowy cap of Mount Fuji, from the tippy point of Mt Whitney
From the ISS.
Ouch! And I thought it wasn't pretty over here...
There is some good news. Rick Perry is coming on strong in the polls:
http://politicalticker.blogs.cnn.com/2011/08/29/new-cnn-poll-perry-sits-...
Aug. 24-25, 2011
Perry 27%
Romney 14%
Palin 10%
Bachmann 9%
Giuliani 9%
Gingrich 6%
Paul 6%
Jefferson Davis redux?
No such luck. Bush redux is more accurate.
I heard Perry for the first time yesterday and nearly shit my pants.
I would say he was W incarnate if W was available for reincarnation.
The man is a shoe-in for the faith-based, I'd like to have a beer with that guy crowd.
He even stumbles a mumbles like W. Eight years of no teleprompter jokes... What will ZH do!
Oh the humanity!
This polling is a political poll.
If Owebama was to step down and take Biden with him the polling would reverse on the sport.
This is all politics.
After Bush Jr, even Texans might not want Perry for pres...
"We move toward a lofty ideal. On some great and glorious day the plain folks of the land will reach their heart's desire at last, and the White House will be adorned by a downright moron."
H L Mencken
Yep. I've been LMAO at the kabuki of Rove and Co attempting to distance themselves from Perry so as not to leave that Bush stank on his personage.
Anyone who takes Rasmussen polls seriously should be institutionalized for their own safety.
BushCo hates Perry and have for many years.
Rove would be thrown in the city dump if he were to kiss up to Perry.
Please tell me this is sarcasm.
Fuck the global elitist asshat Rick Perry.
It was a shot across the bow of a few Ron Paul disciples here who said Rick Perry had no chance at winning the GOP nomination. I remain steadfast in my belief that Ron Paul has approximately 0.0% chance of winning the GOP nomination.
Fair enough. I'd say it will hit its mark. However, it comes across as an endorsement of Perry.
Rick Perry has his shortcomings. However, I believe he and Obama will face one another in the general election. Giving Obama another 4 years is unthinkable. I think he is 100% incompetent and rotten to the core. If I am faced with Obama vs. Perry as a choice, I would vote for Perry.
John Law wants Perry the Bilderberg attendee wow thats great yea he'll really be a good one. For the bankers.
"John Law wants Perry the Bilderberg attendee"
John Law would choose Perry over Obama if that is the choice John Law faces in the general election.
Proving youre a fool.
Y-A-W-N.
Meanwhile, the non-fools will either write in Ron Paul, "none of the above", or skip voting altogether. If offered the choice of shit and shit with whipped cream, I will decline both of them.
What's wrong with whipped cream?
Why would you replace one incompetant with another?
You know, the devil you do know is better than the one you do not.
Whether or not you believe Ron Paul can win the nomination and defeat Obama, you can still vote for him as long as he is in the race. THAT is a vote for Competance over Incompetance.
Just make sure you've got your back to the wind...
yeah but, with the Plastic Jesus Obama we all get more freeshit from the government.
freeshit buys votes.
Perry is another useful tool... no different than Obama or Bush Jr...
I'd vote for the Turd Sandwich.
You're such a bore.
BTW WTF are you doing putting up politics polls here for? Fuck off with that uncalled for bullshit.
Take a chill pill. This is an open forum, and you are not the moderator. My post was intended to broadcast a ray of sunshine on a dour thread. I know some doom-and-gloomers here don't want to come out of their bunkers, but life will go on. The world is not about to end, and the next POTUS election matters. Obama must be defeated.
Doom and Gloomers better than fuktards such as yourself giddy about Perry the regular attendee at Bilderberg.
"fuktards such as yourself"
Go fuck yourself, moron!
Rick Perry is GOING to be the GOP nominee, and the wimpy whiny Ron Paul aficionados on this site need to get it through their thick delusional skulls that Paul has no chance. Zero.
Political idiot.
Hey Tyler if ZH turns into a Huffington, youre done man you better nip this shit in the bud before it gets out of control and turns into a political retard blog.
"Political idiot."
I lived in Texas and followed Texas politics since Perry was a Democrat. I know far more about him than you do.
Lest you mislead people, Texas until very recently had what was known as the "Blue Dog" Democrats, aka conservative Democrats, holdovers from when the South was 100% democratic.
That doesn't make him any less of a neoconservative douchebag who SHOULD be laughed off the stage of politics now and forever, along with a lot of other people.
Sadly, insanity still reigns in American politics, apparently.
"Lest you mislead people, Texas until very recently had what was known as the "Blue Dog" Democrats, aka conservative Democrats, holdovers from when the South was 100% democratic."
I don't intend to mislead anyone. Texas began its transition to a Republican state when Bill Clements was elected to serve Governor of Texas in 1979. He was the first Republican Governor elected in Texas in over 100 years. Rick Perry didn't switch from the Democrat Party to the Republican Party until 1989.
Whether YOU like it or not, the general election most likely will involve Obama vs. Perry. I find it unthinkable that ANYONE believes Barack Obama deserves another 4 years in office. Yes, he is that bad. Perry is not an ideal candidate, but he certainly is better than what he have.
You know what Bush Jr was like as president. You know what Obama is like as president. If they were running against each other, for whom would you vote?
Now posit that Perry is Bush Jr redux. And there's your 2012 presidential voting 'choice.'
Well said.
That is where I'm at on this so far...
We can only hope there is an upset in the R primaries or Perry stumbles badly(although that won't matter if 'I'd like to have a beer with that guy'), AND there is an October surprise that hits Obama.
Fuck Perry, Bitchez !
'Go GOP! Rah, Rah! Im a politicaltard and think one head of the 2 headed 1 party system under bankers is a better choice than the other! Yea Im an idiot!'
You want to slap up your stupid rigged CNN bullshit politics poll out of the blue HERE? About the only place I can go to get away from such blatant retardation? Piss off!
Lobby ZH for an ignore button as I have. If ZH adds an ignore feature, I won't be seeing your avatar again.
Holy shit you're an annoying twat this morning! What crawled up your panties and ate your knob? Or did someone hack your account? Perry is just shades of Bushama...
I posted one single message as a tongue-in-cheek jab at zealous Ron Raul supporters and I was attacked by a flash mob. Maybe that is the true nature of Ron Paul's disciples...
aww...a victim of vigilance. poor you.
The fact that Rick Perry ran Al Gores campaign in Texas is something I can't get past.
Like Jim Rogers, I would rather have Paul than Perry.
Is this the same Paul that scores 45% to Obama's 47% in a head-to-head ?
That is irrelevant unless Ron Paul actually RUNS head-to-head against Obama in the general election.
Ron Paul disciples = completely out of touch with reality re. his chances to be the GOP nominee
Quick question, how many returning caucus supporters does Perry have?
Ask me this question in May of 2012 after Perry has the GOP nomination wrapped up.
You cannot get the nomination without the caucus support. Good luck with that considering Perry has no orginization on the national level and Paul has returning caucus delegates and officers.
fuu, I appreciate that you are zealous for your candidate. By all means, support him every step of the way. Just don't be too disappointed if it doesn't work out and Rick Perry wins the GOP nomination.
You are projecting again. You are the one who felt the need to toss a CNN poll into the mix on a totally unrelated thread. You brought it up. We were talking about consumer confidence.
My post was intended as tongue-in-cheek. No need to get uptight. By all means, support your candidate of choice to the fullest and let the process play out.
'Paul supporters...out of touch'.
ANYONE still putting their marbles into this rigged political system joke is TOTALY out of touch!
I agree, support who you believe in, these days, with money and a write in vote.
4 more years will not change the direction that much.
Perry will not cut spending, waste, dollar destruction etc., once elected!
Anyone putting up bullshit politics polls on ZH out of the blue should get 2 weeks standing in the corner.
Take a chill pill. You aren't the moderator of ZH.
Be a good chap and go enjoy some lamb fries.
Keep being a fool and BTW go suck a dick.
You are mighty brave sitting behind a keyboard.
I am mighty brave, or perhaps just crazy, 15 years USMC Force Recon/Scout here...you?
No, I am not a jarhead, and I don't need to initiate attacks behind a keyboard. If you want to say it to my face, I live in Texas. If you say it to my face on my property, I will introduce you to a little friend of mine.
Something tells me he wouldn't have to be within a few hundred yards of your property if he really didn't like you. The other thing this tells me is that you're now making threats...and really. You think your winky will actually scare him off or are you looking for a date since the Huffpo male-to-male singles site shut down?
LOL
If you did serve in the USMC, you must have taken an oath to solemnly swear to support and defend the Constitution of the United States against all enemies, foreign and domestic, and to bear true faith and allegiance to the same...
I am a tax paying American citizen, and my right to speak freely on a public forum is guaranteed under the Constitution that YOU took an oath to defend. For you to call me (or any other US citizen) a "fuktard" for freely expressing an opinion different from your own is a slap in the face to the oath you took. You have done a disservice to the Corps that paid you.
Insulting people is a right, just as supporting douchebag presidential hopefuls is. Get over it.
"Something tells me he wouldn't have to be within a few hundred yards of your property if he really didn't like you."
If he is a sniper, let him put his services to use elsewhere.
I don't make threats behind a keyboard. That jarhead is the one who launched a stream of insults to someone else (i.e. me) on a public forum. I am quite certain he is not the moderator... and neither are you.
Getting a rise out of wimpy Ron Paul disciples is as easy as poking a stick at a snake. Too funny.
I would like to drop you off in the middle of the Recon barracks on Pendleton and let you call the gentlemen there "jarheads" to their faces. You can even bring your "little friend".
Hello, Pimpin' for Perry Headquarters. Mmm..OK, I see, please hold. John! John? The Village is on line one, they said they want you back...
Poll was rigged:
http://libertymaven.com/2011/08/30/cnn-and-opinion-research-center-the-n...
Does this mean it's a good time to buy an iPad?
yes, because you can eventually eat it when there's no more hope of electric power.
An Apple a day... Maybe they can start selling iMRE's?
Chinese knock offs are surprisingly good these days.
And there's probably enough lead in them to recast them as bullets if the need arises...
The iPad IS a Chinese knock-off.
According to Dudley, they taste just like chicken
Not so fast. Here come the machines to save the month end ramp
Machines and OT leaks on the FOMC minutes will save the market EOD. EOM window dressing ES target 1227 by tomorrow close.
They have to print more money! Money makes people happy!
Even the hopium dealers are starting to come out of their QE induced green haze.
If we regulated and taxed hopium we wouldn't have deficits...in fact, there was so much floating around in '08, we probably could have paid off the Nat'l Debt...
Wouldn't that just lead to a black market in hopium (pun? you make the call) and violence among hopium dealers?
Nothing shows how blatantly sell side the "expectations" are like overlaying those 2 charts since the bottom in mid '08.
Wow! This is bad. It seems very very likely that the US economy will be declining towards the end of this year and into 2012. 2012 will most likley be a very diffucult year.
2012 will most likley be a very diffucult year.
45 million on foodstamps, balance sheet collapse, 20% real unemployment, steadily declining real wages -- I'd say "difficult" is here.
Don't foodstamps create jobs and money velocity.
Oh yea Goolsby is leaving. Scratch that.
yeah, the economy is limping along like a 2 leg dog.
http://www.youtube.com/watch?v=AeiAuQPSHZw
No, it's coming along like a dog with no legs out for a 'walk'. It's really just a drag...
Another leg down, back to 1100?! Or below to say 950?! Who knows!? Fact is They need a lower "market" for "Stimulus" to come in! They also just might try to keep it "up" another day, after all bonuses MUST be SECURED!
Right their only chance is to keep promising the 'stimulus', but if they actually deliver it blows the whole contraption to tiny bits.
Markets 15% from all-time highs, yet our only hope is more emergency rescue measures which are guaranteed to kill the patient, and people still tell me that markets arent overvalued?
S&P should be around 600 today MAX!
Waiting for tommorow's ISM, a good -2%+, and the metals wil fly again towards the third angel...
But But Doesn't this mean the market is supposed to start another Vapor Volume Melt Up. Sheez - you just can't count on anythng these days.
Sure doesn't do much to the market... WTF?
What is this 'market' you speak of? You mean the video game controlled by computers?
The Gross one finally mans up to his fuck-up -- just in time for a 1-handle on TNX:
So we still have a whole quarter left, right?
Plenty of time to shoot the moon.
arent folks down there happy to buy stocks cheap as dirt????
its once a life time opportunity ... expectations should be thorough the roof..
alx
'Stocks cheap as dirt'...only 15% from their all-time record bubble highs?
Fucking quisling Bob Pisani is doing a "Gold Rush" series airing today.
I wonder how many times they will mention mining related deaths and drug lords and warlords in Africa and anything else to disparage it...and being unable to eat it.
September here we cooooooooooome!
Nice avatar. I always loved Klaus Kinski. Especially Aguirre, Wrath of God.
You forgot, consumers spent more and saved less in JULY........
Although i am not a PhD economist it would seem to me that personal incomes increasing by $42.2B at the same time outlays increased by $88B, may not be optimal for healthy economic growth.
Have no fear, soon the FED will ride back into the economy with escape velocity accomodation.
well, Im at home in my bathrobe getting my PhD.
Porn in HD?
No, like CNBC's main advertiser the chick who doesnt LOOK like shes working on her MBA at home in her bathrobe, but really is!
What they don't show is the webcam used for the XXX site she's posing for to pay the bills while she's sitting at home...
You can be ready for these great careers....
- Drug Mule
- Fluffer
- Step'n'fetchit
- Shoeshine boy
- Beggar
- Buffet scrubber
"Buffet Scrubber" I think Becky got that one already...and I think Obammy has the Beggar one sewn up. I hear he's going back to Congress to ask for $300 Bn in Benniebux to 'jump start' the economy again. Yeah, that'll work.
Especially if the bulk of that $88B was spent on gas and air-conditioning.
Confidence is lost (AFTER ANGER SUBSIDES) when one losses their job by surprise. well, guess what? SURPRISE! An unfortunate occasion for many.
Whoa, I was thinking an hour ago that this might be around 45.
yes...i lose faith in the economy...but wall street awaits pretty news out of those fed minutes
CNBS running its Warren Buffet birthday special. It's all cherry coke and Omaha oracle BS. Christ I cannot stand it.
Warren Buffet he's our man
Hero of our nation
For his adventures just be sure and stay tuned to this station
Turn it off. It's just an all day lemon party for him.
Yeah, I almost threw up on my tv when I saw that.
Someone send him a deeper tub and some lead skivvies for his B-day...Did Becky show up and offer him a Quicky?
My Big Fat Greek Bank Merger Bitchez!
'market' aka Vacuum Tubes care not about carbon based consumers
Next month better. Besides: good news for the markets; QE3 will be imminent. Who needs "the economy" anyway? No armageddon. Boring world we live in.
WHAT the consumer is not confident? Frankly Im SHOCKED!
Of course we're confident! I'm confident my gas prices won't return to last years levels. I'm confident my food costs more every month. And I'm confident the assclownery in DC will not end in time to even cause a break in stride as we head for the cliff...Now THAT'S confidence!
S & P 500 should be at 900 based on this horrid economic news.
But with 5-yr. yields at a paltry 90 b.p., there is nowhere else to go but stocks like Salesforce.com with a 590 P/E ratio that pays no dividends.....
Still a 6 bagger off the 2009 lows.
LOL.....
Apparently the GENIUS is not capable of differentiating between NOMINAL and REAL
at least the earnings are a positive number on that one.
Buy all six bags and hold em tight, asspony.
The real economy doesn't matter no more as long as perpetual QEs and perpetual WARs are there to keep raping people while fattening banksters' pockects.
CONSUMER? ... Isn't that specie EXTINCT, due to lack of finances?
2012 is going to be the worse year, out of this entire mess
2012 and 2013 with no end to The Greatest Depression until 2018-2020
Looking for opinions here. Do we need to see a leg down in the markets, say, S and P 1000, to get QE3? Or would bad economic data, like this 44.2, be enough? Maybe I'm missing something, but if the market keeps rebounding on hopes for QE3, won't the FED not have the cover it needs to do QE3?
What ami missing here?
Thanks in advance.
The levitating of the Shit & Pee 500 and the Doh! is having no effect, as they hoped.
But...but...didn't they notice the "lower gas prices"?
BULLISH. RIDE THE PUMP BITCHEZ.