Lake Minnetonka Liberty

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Home Prices Drop, Consumer Confidence Plunges

(Reuters) – Home prices fell more steeply than expected in November, and consumer confidence soured in January, highlighting the hurdles still facing the economic recovery.

The S&P/Case-Shiller composite index of single-family home prices in 20 metropolitan areas declined 0.7 percent on a seasonally adjusted basis, a survey showed on Tuesday, a bigger drop than the 0.5 percent economists expected.

The decrease added on to the 0.7 percent decline seen in October from September.

Separately, a report from The Conference Board said an index of consumer attitudes fell to 61.1 in January from a revised 64.8 the month before, [...]

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Confidence in government plunges

Who’s the president and what party is he from? What party has ruled for the last two years and dug the ditch we are now stuck in? And what party is continuing to fight any reform and budget restraint?

Confidence in the government is lower, or should I say, worse than during the Carter years. Yup! How’s that hopey-changey thing working for you?

Confidence in the U.S. system of government has dropped to a new low in more than 35 years, with public attitudes burdened by continued economic discontent, soaring gasoline prices, record opposition to the war in Afghanistan — and a letdown in hopes for political progress after a bout of bipartisanship last fall.

Only 26 percent of Americans in a new ABC News/Washington Post poll say they’re optimistic about “our system of government and how well it works,” down 7 points since October to the fewest in surveys dating to 1974. Almost as many, 23 percent, are pessimistic, the closest these measures ever have come. The rest, a record high, are “uncertain” about the system.

The causes are many. Despite a significant advance, more than half still say the economy has not yet begun to recover. And there’s trouble at the pump: Seventy-one percent in this poll, produced for ABC News by Langer Research Associates, report financial hardship as a result of rising gas prices. Forty-four percent call it a “serious” hardship. Read More

Four more years! Four more years! Four more years! HA! HA! HA! LMAO!!! “I told you so!”