Republicans Crack - UMich Confidence Slumps To Lowest Since Trump Elected

Republican finally cracked. After months of extremely partisan divergence in the UMich confidence data, the loss in confidence for self-identified Republicans fell notably more than for Democrats (who were already significantly lower). Both current and future expectations tumbled to their lowest since Nov 2016.

As UMich explains...

While this break corresponds with James Comey's testimony, only a few consumers spontaneously referred to him or his testimony when asked to explain their views.


Importantly, the decline was observed across all political parties, but the loss in confidence among self-identified Republicans since June 8th was larger than among Democrats (9.2 vs. 6.8 Index-points), with Independents showing the greatest falloff (11.5 Index-points).


The size of the partisan difference between Democrats and Republicans in the Expectations Index, however, was largely unchanged (55.6 Index-points prior to June 8th, and 51.2 after).


The recent erosion of confidence was due to more negative perceptions of the proposed economic policies among Democrats and the reduced likelihood of passage of these policies among Republicans. Fortunately, a strong job market, improved household income and wealth have provided a financial buffer against rising uncertainties.


Nonetheless, consumers have become less optimistic about the future course of the domestic economy. Even with the expected bounce back in spending in the current quarter, personal consumption is expected to advance by 2.3% for all of 2017.

Interestingly medium-term inflation expectations jumped from 2.4% to 2.6% but short-term remained unchanged at 2.6%.


GUS100CORRINA NugginFuts Fri, 06/16/2017 - 11:10 Permalink

One observation: For the LAST 5 MONTHS, PROGRESSIVE LIBERAL DESPOTS have threatened people, demonized people and lied about people who DO NOT AGREE WITH THEM.This EVIL, MALEVOLENT behavior is from the PIT OF HELL. It is this persistent evil that is finally dragging everyone down including me!I really HATE WHERE AMERICA is headed!!=====In a society where all lies, all deceptions, all corruptions are accepted, that society will lose control of everything. Chaos will begin to take over, and the only way that chaos will be slowed down will be when dictatorial control, or maybe even a police state is formed, where thought and behavior is fixed, and anybody out of bounds is punished. Eventually, the chaos has to be controlled. We’re not headed toward socialism; we could very well be headed toward a dictatorship in our world. Is this hard to grasp?Remember the America that was, some of you? This is not a Christian nation; there’s no such thing. It never has been a Christian nation. Even the founding fathers of America were not true Christians but they did understand that Christianity was a fixed necessity because it established divine law; and when people knew that this was law from God, it controlled their behavior. Biblical ethics, biblical patterns of morality were honored, respected, and expected. Marriage, family, virtue, work, relationships, success were all connected to noble ideals that are found in Scripture. That’s long gone and unlikely to ever appear in the lifetime of anybody reading this because evil men just get worse and worse.

In reply to by NugginFuts

Deep In Vocal … Fri, 06/16/2017 - 10:18 Permalink

republicans democrats you don't get it........still after all this time you still dont understand they are the same, there are no republicans left. this republic people are talking about does not exist. america long gone....socialism on the rise....trump will speed up the process... you just don't get it, do you? ur all being played on a massive scale...but head in the sand and look at the smartphone....take a picture of your  breakfast and post it to facebook...get likes.... that's what's important today...the human is so dumbed down it's beyond belief....attentionseeking...... but go ahead keep believing mr clown boy is there to save you..... you won't see it coming...... 

Bryan Deep In Vocal … Fri, 06/16/2017 - 10:23 Permalink

I don't think there's a lot of "Trump is going to save us" out there.  What there is, is "I'm glad it's not Hillary" and "I hope Trump can get the swamp a little drier than it was before."  It would be delusional to think Trump could reverse decades of establishment rule in one or even two terms.  The hope is that he can stop the bleeding, at least.

In reply to by Deep In Vocal …

Kat Daddy Deep In Vocal … Fri, 06/16/2017 - 12:12 Permalink

There are some positives; pressure off gun ownership, immigration control; no Central America and PTSD Islamists, no TPP - free trade isn't fair trade.There are some negatives; uptrend in Gunboat Diplomacy, turning over war planning to Generals, Deep Zio-Nazi penetration of administration.And some unknowns; Tax reform, Health Care Repeal, US Jobs, Spendthrift Budget.There are NO positives to an HRC administration!

In reply to by Deep In Vocal …

Deep In Vocal … Fri, 06/16/2017 - 10:20 Permalink

cops on the street with military gear.... hahahah please give me a break....wake up please american..... this thing called america is long gone....the police state and the jew decide what post america...

Eagle40 Fri, 06/16/2017 - 11:31 Permalink

For ten years our economy has been slowly collapsing. This article is bullshit emphasizing that employment is great, household income way up and Americans more wealthy. Absolute horse shit. The top 3% are wealthier which drives the average up but not the median. Back 10 years ago 70% of workers were eligible for unemployment. Only 27% are eligible today. More people have stopped looking while others have become stay at home mom's or dad's. I know of 10 friends, individuals or friends of friends that have lost jobs and are not collecting. Also if you receive over $19,000 in severance you don't receive employment. The true stat is the labor participation rate which has been bad for a decade with no improvement.What a lie.

Kat Daddy Fri, 06/16/2017 - 11:56 Permalink

Statistics put out by the FED are all designed to create a sense of prosperity.  2016 GDP 1.6% - CPI 2.1% = (.5) CONTRACTION.  2% growth with 2% inflation is a no growth economy, for the past 8 years, fueled by a liquidity binge juiced up with loose money and 0% interest rates.  With rates rising and money coming out of the economy, in a weak to falling economy, recession will be the Black Swan all those Z Hedgers have been waiting for.  Good luck and happy trading!

man from glad Fri, 06/16/2017 - 12:44 Permalink

These Republicans better get with the Trumpster as he is the only reason they are not polling in the single digits. Otherwise the midterms may not be too friendly to them.

decentraliseds… Fri, 06/16/2017 - 15:12 Permalink

 Why waste time on this alligator when the swamp’s most critical economic and political problems revolve around the hegemony of a global corporate cartel, which is headquartered in the US because this is where their dominant military force resides. The US Constitution is therefore the “kingpin” of an all-inclusive global financial empire. These fictitious entities now own the USA and command its military infrastructure by virtue of the Federal Reserve Corporation, regulatory capture, MSM propaganda, and congressional lobbying. The Founders had to fight a bloody Revolutionary War to win our right to incorporate as a nation – the USA. But then, for whatever reason, our Founders granted the greediest businessmen among them unrestricted corporate charters with enough potential capital & power to compete with the individual states, smaller sovereign nations, and eventually to buy out the USA itself. The only way The People can regain our sovereignty as a constitutional republic now is to severely curtail the privileges of any corporation doing business here. To remain sovereign we have to stop granting corporate charters to just any “suit” that comes along without fulfilling a defined social value in return. The "Divine Right Of Kings” should not apply to fictitious entities just because they are “Too Big To Fail”. We can't afford to privatize our Treasury to transnational banks anymore. Government must be held responsible only to the electorate, not fictitious entities; and banks must be held responsible to the government if we are ever to restore sanity, much less prosperity, to the world. It was a loophole in our Constitution that allowed corporate charters to be so easily obtained that a swamp of corruption inevitably flooded our entire economic system. It is a swamp that can't be drained at this point because the Constitution doesn’t provide a drain. This 28th amendment is intended to install that drain so Congress can pull the plug ASAP. As a matter of political practicality we must rely on the Article 5 option to do this, for which the electorate will need overwhelming consensus beforehand. Seriously; an Article 5 Constitutional Convention is rapidly becoming our only sensible option. This is what I think it will take to save the world; and nobody gets hurt: 28th Amendment 28th Amendment: Corporations are not persons in any sense of the word and shall be granted only those rights and privileges that Congress deems necessary for the well-being of the People. Congress shall provide legislation defining the terms and conditions of corporate charters according to their purpose; which shall include, but are not limited to: 1, prohibitions against any corporation; a, owning another corporation; b, becoming economically indispensable or monopolistic; or c, otherwise distorting the general economy; 2, prohibitions against any form of interference in the affairs of; a, government, b, education, c, news media; or d, healthcare, and 3, provisions for; a, the auditing of standardized, current, and transparent account books; b, the establishment of state and municipal banking; and c, civil and criminal penalties to be suffered by corporate executives for violation of the terms of a corporate charter.    

Charvo Fri, 06/16/2017 - 22:54 Permalink

The longer this market goes without a reset of debt (via massive bankruptcies) and stock valuations, the bigger the crash will be.  Trump is going to get all the blame.  Trump should have known this from the beginning because he knows how too much debt eventually leads to bankruptcy.  He's got plenty of experience in that area.  A bankruptcy screws the creditor but gives the debtor a clean slate which allows for real growth and economic activity.