This page has been archived and commenting is disabled.
Consumer Sentiment Highest Since January 2008
77.8 on expectations of 76.0. Highest since January 2008. Yup: the US "consumers" (of what? Patek Philippes? Cristal? 8 balls? Dorsia deserts?) polled by Reuters, have not had it better in 4 years. After all what is there not to be confident about: record number of people on disability, foodstamps, out of the labor force, market sliding, banks imploding, Europe about to fall apart, gas near record highs, home prices quadruple dipping, and the prospect of much, much higher taxes next year to boot. Whatever - just charge it.
»
- 8442 reads
- Printer-friendly version
- Send to friend
- advertisements -
I'm truly speechless.
Who here feels better?
I almost feel bad for the ones who will not see it comming or even know what it is when it happens. Almost.
put this in context. Jan 08 was the beginning of the depression. we were already 3 months in. this isnt some great number.....
Actually I'd call this as a relatively bearish signal. High consumer sentiment means a hopium high backed by nothing...
Consumer confidence is great when you have organic growth and job creation, but in a contractionary environment with all the systemic dangers, it's a case of pride coming before a fall.
Actually, Ferrari reported its highest U.S. sales ever (don't know if it was in dollars or units of cars sold), yesterday...which I view as a bearish signal.
Ben's printing press doesn't help Americans like helicopter drops would. It only benefits those closest to and working for the primary dealers.
No way! If the average American found a bundle of fresh 100s dropped in his back yard he would take this money to the local police station's lost and found dept. That's why a helicopter drop would never work.
Surprised? - They are being bombarded with tales of prosperity - what do you expect?
Based on the news they believe that other people must be doing good so it won't be long before thay are too .
Nailed it, Harry. Psychology, bitchez.
+1
How Management of Perspective Economics (MOPE) Backfires
http://www.jsmineset.com/2010/11/17/how-management-of-perspective-economics-mope-backfires/
By defintion, 50% of the populace are below average in intelligence. Couple that with the fact that most everybody is educated in state schools. Couple that with constant propaganda. And it's an election year.
And the plebs have high(er) hopes?
How anybody could be surprised is beyond me.
The "Betty & Wilma" economy...
~~~
http://www.youtube.com/watch?v=8rqNZAIQH4U
Coming soon...
http://www.youtube.com/watch?v=o1zGjbFU1uE&feature=related
I feel better about JPM tanking, that's about it.
Down -8%.
I'd like to see them completely fold TODAY.
Everything is a one-off event in this market. Don't connect the dots of course.
I think Consumer Sediment has overflowed the bowl & the floor is awash with nuggets of joy.
My JPM en-lightening moment, via the incisive Joyful...
Jamie Dimon is Greek. Did you all know that? What is it with all these people in the US with changed last names.
Jamie Papademetriou Dimon
Nuts! It's all a LIE! Top to god-damned bottom.
ori
mt-whitney-to-tanggula-pass-obliquely
On the other hand - JPM can afford the hit since they get to hand the bill to taxpayers
JPM is NOT worried. The know that their losses will be socialized and covered by you, me and the rest. Jamie has already called Ben and asked. "Are we good"?... Ben tells him, "Don't worry... We got this."
Jamie's next call is to O, to schedule a golf date this weekend.
Where do they find the people to poll???? Best answer gets a prize!
Free Markets
"Where do they find the people to poll????"
If I understand it correctly those would tend to be people with landlines who do not call screen.
The elderly and stupid.
At the mall...or doing online shopping. They get a 5% discount if they fill out the poll...plus free shipping.
Why are all the other bitchez getting so many credit card offers when they are already maxxed out on the ccs, student loans, home equity lines, etc.? Me- I've just got the remembrances of silver and gold at the bottom of the lake.
HoofHearted
I have never seen a government poll while online shopping.
Most of those tend to be company polls regarding access to service.
I haven't been to a mall in nearly a decade.
Aren't they barren shops where the homeless crash when the elderly aren't powerwalking for exercise?
thanks for the laughs, instant visual of the seniors power walking around a mall at 7:30am on a cold winter morning. In Canadian smaller town malls there's still a big line up at the Timmies (Tim Hortons) coffee shops in the foodcourt, the pharmacy is doing a good business but the rest of the mall looks slow.
"Where do they find the people to poll????"
Where else...in line at the Apple store to buy the next iFad.
Inline at Social Services.
It's Dewey v Truman all over again. It's a poll for people that can afford a home telephone number.
Or a poll of people who cannot afford caller ID.
pods
None of you have started getting surveys on your smart phones?
It sucks to lose a minute hanging up on these guys, but it's better than losing 10 on a voicemail of their machine asking if I'm ready to take the survey.
Better to ask if the poll comes from Bormann's office.
Where do they find the people to poll???? Best answer gets a prize!
Their all on LSD...............
Doesn't the economiy tend to pick up during a Presedential election year?
Hey...If the Gov. is going to print itself into debt jubilee so can we? I think I charge some gold to plastic.
LongBalls
Plastic?
Digicurrency is the wave. Paying via smartphone.
Plastic is so twentieht century.
Yeah, 2008 was awesome. So was 2000. Economic booms! Oh, wait a second...
Wrong kind of boom. Some booms are good, some are very, very bad...
I building large garden and will build a solar water and air heater ... adding more chickens to my flock and a rooster to make more chicks. gearing up for what could be a "disruption" to our all too fragile economy.
Jason T
Ever use Diatomaceous earth on the chickens?
I also read about the never clean the coop approach, where you never clean but toss a layer of sawdust every few months.
haven't but i'll look into that.
It works, that's what we do. After a few months there is a nice base and you don't have any smell, etc. Once it really piles up (about every three years it gets a bit high for our people entrance), you scrape some out, let it cure and use it as magic fertilizer
the fucking DOW just went positive ... WTF?
You got to drink the kool-aid to understand.
the PPT was waiting for the UMich consumer sentiment index figure at 7am, supposedly the best in 4 years, consumers have really bought the "we are in a strong recovery" hook line & sinker. This is the cover story for phase II of pump up the markets today and kill shorts.
PPT Team to the rescue. Using NAZ to pump it back up. But I think you will see the fallout on Monday. Today is a Pump to Dump day.
PPT Team to the rescue. Using NAZ to pump it back up. But I think you will see the fallout on Monday. Today is a Pump to Dump day.
I felt loads better after the JPM story broke.
And the sun is shining today - yesterday the weather was shite.
And silver just had a nice little spike (which always makes me think, could this be the one?). If the phone rings up now I might even be in a good enough mood to answer a few questions.
; )
Oh - and I consumed some more PMs at bargain basement prices - that always gets my index up!
perfect for Friday humor!
What the fuck, over.
Do they poll outside of DC and NYC?
+1 Quadrillion
This should be bullish for iPhone 5 sales...
not just iPhones, this is bullish for everything
yep, people are waiting for the iPhone5. apparently it makes everyone happy.
These are the same people who show 40 plus percent for Barry O. Liars.
so you really think . 1% percenter school yard bully Willard is the answer? please... The only answer he is, is.. out of 300 million people who is among the very few that could actually be worse than Obama?..
Has anyone ever seen a more poweful short squeeze than this? All that ZIRP just plowing up the chart, a true marvel.
magical lift-off started at US opening from intra-day lows in Europe, almost back at intra-day high in 30 minutes
i thought the number was released only 30 minutes later?
seen many magical lift-offs these days... seems easy
Outside of the bedroom, no.
the state run media prestitutes are salavating over this peice of propagand they can run with
Mass delusions.
Are you better off than you were five trillion dollars ago?
oblivious is a happy state of mind
I wonder how they manipulate this statistic?
They probably only call landlines. Landlines in nursing homes. Landlines in nursing homes for patients with dementia.
another strange report.....the U of M is always upbeat...but this is weird...
I am so happy for all of you feeling the love of Chairman B.
/Chairman M
I wonder if they actually poll people for stuff like this?
pods
They could generate the same results either way... I suppose it would be easier to just make it up... but they cover their asses better if they go through some motions.
It comes from a University. Zero credibility
Exactly, only thing worse would be if it came from a book. Everyone knows that the most precise measures of economic indicators comes from your gut instinct.
If so this is very telling.
Operation boilermaker was a success this morning.
What does it say about markets that the firms running on inside info and ownership of the fed can get it this fucking wrong?!!! How does anyone feel confident in these markets?
Ah, when a population as a whole is continuously increasing in size shouldn't we expect the 'number' of people on all of those things to be at 'record highs' rather often? Record highs per capita would be worse, of course, but if that's what you mean then say so.
Dow almost green.
Greece in the tank.
Spain in the tank.
JP Morgan stealing.
Yet the Dow is almost green.
Bizarro World
(Htrae - Earth" spelled backwards)
http://en.wikipedia.org/wiki/Bizarro_World
It's telling to take almost any ZeroHedge headline and add the words, "Dow soars" at the end.
The new way to trade, wait 12-24 hours to trade the news. The news is bought by QE hopefuls.
QE3 imminent.
Don't worry, it's just the future of future generations.
It's spring time ..people always feel better when spring rolls around...then the blooms fall off the roses an there is nothing left but thorns.
"you give me flowers when its thorns I gave to you"
"...record number of people on disability, foodstamps, out of the labor force, market sliding, banks imploding, Europe about to fall apart, gas near record highs, home prices quadruple dipping, and the prospect of much, much higher taxes next year to boot..."
True, but if you don't ask the people affected by all that, then sentiment is the best since January 2008....
All we need now is a good ECRI number today!
DavidC
Maybe that is it, they only ask people recently approved for diability. They are feeling confident that they can live off the gov't for the rest of their lives.
But... but.. I've been pre-approved at a low introductory rate of 29.99% APR with an added bonus of No Interest until June 2012!
Something's wrong with these numbers...
But... but.. I've been pre-approved at a low introductory rate of 29.99% APR with an added bonus of No Interest until June 2012!
Doesn't matter what the rate is, they have no intentions of paying it back.
S_C_O_R_E!!!!!!!!!!!!!
where is the the red pill dude.....I don't want to know what is in the matrix??? How can you explain this niumber Tyler???? other then sarc...
all I can say...
http://www.youtube.com/watch?v=j7AKP0P97sI
http://1000awesomethings.files.wordpress.com/2011/07/you-sounded-like-a-...
Actually, one other point, despite all the bad news, is that the NASDAQ (particularly) and the Dow/S&P are all oversold on a daily basis, and we've got Facebook IPO on the 18th. A lot can happen between now and June when Operation Twist is due to end. I'm mega-bearish, but just saying - I've been caught out before with similar.
DavidC
The barbarous relics too, but they're not bouncing
BTFDYFI. And iPads.
Long butt-plugs and coke spoons.
The Ministry of Propaganda should start a comedy show...
This is awesome news. After polling the households of Tim Geithner, Ben Bernanke, Jim Cramer, Rachel Maddow, and Nancy Pelosi, the UM concluded things were great. We really needed more manipulated meaningless government data to drive things higher. I mean, we haven't had that since... yesterday.
Rachael Maddow in your list of people actually stands out as a person who does some work here and there to illustrate how lowly those other 4 on your list are on the scale of evil.
Maybe on her knees she does some work.
That one did kinda throw me off course too... I usually don't see her included with that set of people.
The person who posted that must have seen her show. I don't know anybody who has seen her show that likes her.
Just another number created in a spreadsheet. They can justify it because the robot traders have bid up the markets, if the software is happy then the people are happy. If the markets are up then the people are happy. Apparently it doesn't take much to keep the people happy, happy.
No surprise here! Although it's fun to be a Wolverine fan, and I am, UM is one of the most liberal and Democrat loving institutions on the planet. Must support the status quo
This poll is useless. Probably taken in front of the state's lottery cash in center.
I'm signed up for a frontal lobotomy this afternoon so I can be as confident as the "average U.S. consumer".
Economists, Wall Street CEOs, Obama White House: "The Economy: It Gets Better"
People who actually work for a living and live in the real economy: "The Economy: It Gets Shittier"
Even MSNBC is acknowledging that Americans worries are starting to grow (despite the number here). http://t.co/fZTmCCes
Anyone who think that things are going to DRASTICALLY improve by now and AUgust, are drinking some major Kool-Aid with some liquid Prozac. And the main source of the griping that should be the loudest, those in the 18-35 sector who are seeing the WORSE income wage growth since the Guilded Age.....their dissent is being suppressed by the corporatized state (in terms of action, but not by the tone of awareness....sites like this, prove that).
And, in a recent poll that asked "How has the economy affected your life the last 4 years", over 50% either voted "I lost my job" or "I lost income on my yearly wage".
I dunno about you guys, but that makes me bullish......on fail.
TYLER. I looked at the stocks on my iPhone and it said SPXU jumped 400% today!
And the S&P is green. WTF?
I dn't have access to a computer to check it. Is it true?
Must be a mistake. CNBC site says SPXU is down 1.3%.
My Mac computer Dashboard also shows SPXU way up, but it has to be a mistake.
I think they had a reverse split.
I see uncle Ben has the PPT on high alert.
Perhaps they see the falling gas prices and they are really happy. Little do the sheeple realize that the falling gas prices are happening due to growing economic problems (especcially in EU),
Bullish for MasterCard.
If things are so great, why did Nordstrom dissapoint?
How's Best Buy doing? WalMart? Target? Green Mountain Coffee?
What does one do when all else fails and the dow needs some juice? Why just buy some home depot, the biggest peice of shit of them all, thats what.
Interestingly enough, Home Depot and Lowes are just about the ONLY places I spend 'desposable' income, trying to keep my house running, grass in the yard, lights on, etc. If those two entities can't make it, no one can. Their parking lots are full everyweekend here in northern VA.
I use Home Depot and especially Lowes also for my Rentals. I spend tons of Money there.
THE "BAFFLE THEM WITH BULLSHIT" is working!!!
Who in their fucking right mind....or who is capable of paying attention for more than 5 seconds, can look around their community (let alone the city, state, nation, world) and think that things are in such a state as to "increase their confidence".
All I can say is that a people, as collectively stupid as we seem to be, definately deserve to reap the harvest that is coming.....the shit that is happening in this world came about exactly because the peasants were too fat, lazy and content to revolt....the fucking idiots who answered this survey are either willfully ignorant...or the whole goddamn thing is nothing more than a fabricated propaganda piece. (both?)
WHy even bother reading this drivel....it really has no basis in reality.
This consumer sentiment bullshit is more tiresome than what the price of Gold will/should be...
Scene from a mall.
Person with clip board outside of Nordstroms "What do you think of the economy?"
Gets in car grabs new clip board. Drives a couple of blocks to corner bodega where people are leaving after trading $300 worth of EBT benefits for $150 in cash. "Obama or Romney?"
Degree of accuracy +/- 3%
You're right! And trust that ANYONE interviewed for a survey, ESPECIALLY on T.V., will take on a responsibility to speak for the many instead of just themselves. And in doing so, they'll subconciously paint a perfect picture of what it's supposed to be. When the camera lights go out, they feel all empowered and engaged and important. The best way to see this at the raw core is to watch a small town news program where the rookie reporter goes to a bar or whatever and asks random of us dorks semi-interesting questions. You can SEE the chest swell and the attitude change! Rarely does that person speak for themsleves but instead, they take on the action of what the community would say. They be REPRESENTING. And few are willing to represent truth if it hurts, for if you do, you lose respect. You lose your following. You gain no Street Credential.
The people polled for this statistic are easy to spot. They are walking around with their pants on their head with a couple of pencils stuck up their nose.
Dow now Green.
We must amend Lincoln's statement.
When it comes to money - you can fool most of the people if you have total control over the buying and selling. In addition, as long as banks can create deposits - its all good.
+85 swing in the Dow in less than an hour.
Ignore Greece, JPM, and China - consumers "feel" better.
GREEN.
It's the American way and the psychology of it all to be positive when you're down!
Watch any, ANY news clip on a tornado that rips through a town. "It's a total loss. We're happy no one got hurt. We will rebuild".
Always the same. Why?
Because EVERYONE wants to be POSITIVE to get BACK TO the TOP.
Even when we won't.
Proving, if nothing else, that the American sheeple, I mean electorate is as dumb as a bag of hammers.
Maybe they should rename it to the Potential Zombies Poll.
The Ministry of Make Believe Statistics comes through with another timely announcement to distract the algobots.
It seems that too many algos have forgotten that the EU actually is a larger economy than the by credit overlevereged US economy. Ignore Europe at your own peril.
This has become a complacency report. People adjusting to the "new normal," which clearly is a dangerous trend. I wager the higher this goes, the closer we are to a disaster.
Like a flock of sheep, consuming everything in their path, feeling satiated and completely unaware that they are slowly being led to edge of a cliff. One must wonder if there has ever been a higher level of ignorance in this country?!
Just curious. Where do you put yourself in this flock? Seems you've fallen for the oldest trick in the book. Which is to believe it's EVERYONE ELSE who's asleep, while you're brilliantly standing by sipping a latte and watching the stupidity unfold. Why do so many feel they're not the sheeple, as if they've been exposed to a sacred truth and stand above the rest. Better make sure you don't go "consume" anything today in all that awareness.
Sadly, you're suffering one of the most stealth mindgames of them all.
Maybe a better question is "where do YOU put yourself in this flock and what have YOU done about it?!
401k accounts have been made good and in the green. People are buying cars, taking vacations, buying $4/gallon gasoline. What could possibly go wrong? The future is to worry about when you get to the future.
Reality, one day, will cause a lot of hurt. Today is not the day today.
Stocks up, gold crashing further ... stocks are up in Europe too (because the American consumer is confident) .. gold has been falling for nearly a year now.
I am not sure why, but facts are facts.
gold has been falling for nearly a year now.
I am not sure why, but facts are facts.
Its easy............................
We are Globally entering into the next to last phase, DEFLATION.
Everything will drop (soon) like a rock,barring Israel bombing the piss out of Iran(which basically is what they stated yesterday),that will get the mkts UP.(PM's)
We are close to the END GAME fella's.................................After the election the SHTF in a huge way.(if Oscumma wins).
HAHAHAHAH You don't think the PPT would allow the market to crash today did you?
This fucking farce must go on at all cost. The Nasdaq is already up .5% today and the Dow and S&P are rallying. I said last night the Fed would throw $100 billion into the market. I probably wasn't off by much. I can't even see the volume chart this morning so it is all PPT.
JP Morgan will most likely be green by the end of the day.
The consumer sentiment and PPI reports are complete fabrications to give cover for a Fed algo buy rally. 50 point jumps in seconds on the Dow chart.
Only a few thousand bullets to heads will stop the madness.
i start to think they don't need $100 billion to make it move wherever they want
like the market sells off for 4 hours and then they simply buy 10 shares per second for 10 minutes - or some leveraged crap - raising the bid linearly until short squeeze takes over
Who are they polling the 1%. Manipulated numbers.
I'm confident the worse things are, the more things could potentially be better,
and each thing that goes wrong, means one less thing that could possibly go wrong.
It all makes sense...Most of us are, dependent on the system, idiots..Followers to the last...Believers in hierarchal structures that blow up in our faces everytime...Belief in leaders. The MSM tells you things are better and so even though you've got a gun in your mouth, you somehow still believe...
The anti-depressants help I guess..Everyone is on some sort of drug..Just to be able to deal with the unreality of reality..
http://www.youtube.com/watch?v=xQngYFbZTo0
Yeah - things are better, my vegetables are growing, my chickens are producing, my ammo stock is at an all time high and my new Glock is awesome. Now I'm just buying grain in 10 gallon buckets. Course, if I dwell on what I'm going to be missing (golfing at the club, destin's sandy beaches, frozen margarita's, watching 3d blockbusters, imported wine, hell, imported anything, gas) then I get kind of, uh, sad. ;<(
i feel sick
now markets being driven up on shorts running 100mph to cover, it's all cover driven now and PPT forced market up. Anyone have any ideas about how many billions of securities were purchased this morning to stop a market selloff and force shorts to run for cover?
Shorts need to grow some nuts IMO. I'm shorting via Spy puts on the ramp here. Hoping for a quick $1000 - $2000 when it turns back. We'll see.
But.....got a sneaky QE feeling bout this weekend.
Whaddya mean? QE has already been unleashed and the markets are being ramped up higher this weekend for a big rampup in preparation for the FB IPO on May 18th? So markets will reach new highs next week?
I think we could get an offical announcement of QE that probably is already going on. It would be a "buy the rumor, buy the news" situation so to speak.
So Bernanke is going to say a few words of wisdom and/or because everyone knows the markets should have sold off today because of Euro + JPM + Greece default + everything else, so thus QE is on its way?
This past Monday and today will both go down in the history books as major tour de force courtesy of PPT. I suggest looking at the HFT algos at the opening bell and tracking for the first hour will clearly show markets are being "herded" into green territory. Never before have so many "buy orders" been dumped onto open market in the face of bad news!
Well, they've got the power to print and print away they do.
At some point responsible money managers are going to come in and start unloading, but this morning is a wake up call that we are in a new era where shorting is just not tolerated. What we need is for traders to stop shorting, a short boycot if you will.
The current ramp of SPY is phenominal. TPTB are freaking out.
what if JPM did not incur any real loss but just wanted to stage a squeeze
eh, OK, sounds paranoid...
Before sereously considering the consumer confidence number by Reuter, just ask yourself few questions:
The bottom line: the Zionist Banking Mafia and their paid agents want to keep Obama in for the additional 4 years. He did not finished his job destroying America yet.
Apple is now green and up over $1. BAC is up $.25 from the morning low. Even JP Morgan is up $.20 from the low this morning. Everything is on a Fed buy ramp job. Nothing will fall for the rest of the day.
Beware when the market shows strength when it the fundamentals prove otherwise; remember before Jan 08 crash, we had 8% GDP "growth" prev quarter