Consumer Confidence Surges To Highest Since The Last Time Markets Crashed

Despite stagnant wages, surging jobless claims, and global geopolitical anxiety, US consumers have not been this exuberant since August 2007... a month before the great quant fund blow-up and the top of US equities... But it's different this time, we're got money-printing and low oil prices... right? Texas confidence plunged from 119.4 to 111.9 (led by a huige crash in expectations from 95.8 to 83.5). Finally, expectations for higher incomes in the next 6 months surged higher - almost at record levels of hope - despite the slump in hourly average earnings.

 

Highest since Aug 2007

 

The last time Consumers were this confident marked the top in US equities and the imminent crash of the quant funds...

 

And finally the hope for higher income remains its stringest almost ever... in the face of an ugly reality...

 

Charts: Bloomberg