As Stocks Soar To Record High, Americans' Consumer Confidence Tumbles In November

Despite soaring stock market values and an endless array of postive survey data from various estabishment-based entities, University of Michigan confidence tumbled in November.

Consumer sentiment in the U.S. cooled for a second month. While current conditions managed to improve, expectations for the future slumped...

“Perhaps the most important changes in early December were higher income expectations as well as a higher expected inflation rate in the year-ahead,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.

“The rise in inflation expectations in early December was a surprise, and confidence in this finding must await confirmation in the months ahead before any inferences are drawn.”

Comments

Richard640 Sliced into ribbons Fri, 12/08/2017 - 10:34 Permalink

WAKE THE TOWN AND TELL THE SHEEPLE.... THE SHEEPLE SHALL BE SHEARED... The end is nigh, brother, the end is nigh!  World markets are like a pie crust stretched across the roof of a volcano! Fu Manchu is about to pull the lever to the trap door! Warbucks signals the trusty  Punjab to cut the cords of the rope bridge!  Grease the skids! Happy tobogganing!

In reply to by Sliced into ribbons

Richard640 Sliced into ribbons Fri, 12/08/2017 - 10:34 Permalink

WAKE THE TOWN AND TELL THE SHEEPLE.... THE SHEEPLE SHALL BE SHEARED... The end is nigh, brother, the end is nigh!  World markets are like a pie crust stretched across the roof of a volcano! Fu Manchu is about to pull the lever to the trap door! Warbucks signals the trusty  Punjab to cut the cords of the rope bridge!  Grease the skids! Happy tobogganing!

In reply to by Sliced into ribbons

ParkAveFlasher Fri, 12/08/2017 - 10:18 Permalink

I thought consumer confidence was up earlier this week? So the consumer blew $400 on XMas show tickets on Wed and his confidence is back down.  Oh wait that's just me.

wmbz Fri, 12/08/2017 - 10:18 Permalink

Just need to stop with consumer sentiment, indexes, polls etc... It makes no never mind to stawks, they only go up, there is no down button on this elevator.

poland spring Fri, 12/08/2017 - 10:21 Permalink

Why one overlays UMichigan Consumer Expectations over an S&P chart, I will not understand.  If anything, the above chart shows it goes up and then down and then back up, nothing out of the ordinary. For the below chart, it appears that for the majority of the last 3 years, inflation expection range from 2.4 - 2.8, again nothing out of the ordinary. I am not sure if charts for the sake of charts is helpful...

Solio Fri, 12/08/2017 - 10:39 Permalink

Collapse.Poisoned ecosystem, water (surface and aquifers), air (voc), radiation constantly rising from melt-outs, downs, heavy metal never before in the world now here, worship of corporations and fiats, human trafficking with all of the horrendous crimes that go with it (cannibalism, vampires), farmland also poisoned with herbi/pesticides, children poisoned with voc's in school, sport field, organ harvesting ratlines, 24/7 propaganda distractionism, du spread on the battlefield (soldiers and mercenaries get it, too), fathers and framilies importance diminished.Good luck.

MrBoompi Fri, 12/08/2017 - 10:43 Permalink

Comparing consumer confidence to the price of stock is like comparing the flavor of steak to a flavor of a tire.  I'm sure it can be done but the exercise is meaningless.    

khakuda Fri, 12/08/2017 - 10:45 Permalink

The way you know you are in an asset bubble is when all the talking heads tell you that you aren't in an asset bubble.  Money has been free for 9 years and counting and asset prices have outstripped underlying cash flow growth by a wide margin just about every one of those years.There is no way we are not in an asset bubble and we know most asset bubbles eventually cause real world bubbles, be it laying fiber optic cable, bulding houses, or fracking wells.

rejected Fri, 12/08/2017 - 11:04 Permalink

But hey,,, BC is up!Soooo look at the inflation chart. A whopping 2.8 percent. Sure.Using the methodology before gov started its major bullshitting in 1980 the inflation would be at 8-9 percent. Probably accurate.Then the big change in 1990's. Not too bad as it still was around 6 percent, Still believableNow after being brow beaten for 2 decades its an unbelievable 2.8 percent,,, yet Muricans believe!10 year loans on shit cars,,, 40 year loans on shitbox houses,,, 25% interest on CC,,, gov misplaces 21 trillion,,, and on and on.....Muricans with bobble head syndrome believe its the dawn of a new prosperous era. It is!  Just not for you.....http://www.shadowstats.com/alternate_data/inflation-chartsEven with people trying to show us the government BS we still 'believe'  

Batman11 Fri, 12/08/2017 - 13:02 Permalink

When you put your faith in free markets, don’t forget about mode 2.“Stocks have reached what looks like a permanently high plateau.” Irving Fisher 1929. He put his faith in free markets, but forgot about mode 2, his credibility will soon lie in tatters. Markets have two modes of operation:1) Price discovery2) Bigger fool mode where everyone rides the bubble for capital gainsYou may remember hearing about mode two in Tulip Mania; it’s as old as the hills.Everyone knows about mode two and it’s what the real estate market thrives on. Everyone likes mode two because you can earn money doing nothing with mode two. You just sit on your behind and the asset goes up in price. You must make sure you are not the biggest fool that gets caught carrying the can at the end.Making money doing nothing is the best part of capitalism; you can’t get rid of it as the other alternative is that rather unpleasant hard work stuff.You just need to believe you are far too smart to be the biggest fool who gets caught carrying the can at the end and everyone is far too smart to be the biggest fool who gets left carrying the can at the end.Wall Street’s investment banks did turn out to be the biggest fools in 2008, but they wouldn’t let a little thing like experience stand in the way of doing it again.Things haven’t been the same since 2008.We forgot mode 2.