The last time Americans were this full of shits and giggles was December 2006 - according to UMich latest survey of consumer sentiment. The indicator has risen for 5 straight months accelerating each time with the biggest surge since the mid-2011 US downgrade crash. At 93.8, smashing expectations of just 89.5 by the most since March 2013, for a 5-standard-deviation beat. Inflation expectations rose (as inflation plunges) and while both current and outlook indices rose markedly, it is the hope-strewn 'economic outlook' that exploded.
A picture paints a thousand words...
U Mich Consumer Sentiment pic.twitter.com/MpM2ch4MPo [8]
— Not Jim Cramer (@Not_Jim_Cramer) December 12, 2014 [9]
Biggest beat in 21 months...
[10]
A Euphoric Goldilocks Surge to 8 year highs...
[11]
We think this 140-character-or-less tome explains it all....
Stocks higher on surging UMich which is higher on lower oil prices which are pushing stocks lower
— zerohedge (@zerohedge) December 12, 2014 [12]