Lake Minnetonka Liberty

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Tag Archives: consumer confidence

Consumer Hope for Future Hits Lowest Level Since The Carter Years

It just keeps going from bad to worse to hopeless with this worse than Jimmy Carter clusterf – - k of a president.

The Thomson Reuters/University of Michigan’s Economic Survey shows, via CNBC:

“Overall, the data indicate that a renewed downturn in consumer spending is as likely as not in the year ahead,” survey director Richard Curtin said in a statement.

“Even without a downturn, consumer spending will not be strong enough to enable the rapid job growth that is needed to offset reduced long-term expectations.”

The gauge of consumer expectations dipped to 47.0 from 47.4. It was the lowest level since May 1980. The economic outlook for the next 12 months fell to 38 from 40, the lowest since February 2009 when the world economy was gripped by the credit crisis…

Confidence in economic policies remained near historic lows after being damaged by political wrangling over raising the debt ceiling. Three out of four consumers expected bad times for the economy in the year ahead. Only half of respondents said the same at the beginning of the year…

The survey’s one-year inflation expectation rose to 3.7 percent from 3.5 percent, while the survey’s five-to-10-year inflation outlook was at 3.0 percent from 2.9 percent.

Worse than Jimmy Carter, Obama needs to leave.

OBAMANOMICS: Consumer Confidence Drops 15 Points

Hey! How about another four years of this shit?

Consumers’ confidence in August dropped almost 15 points to the lowest level since April 2009 as worries about the economy fueled the wildest stock market swings since the financial meltdown in 2008.

At a time when Americans are growing increasing worried about a weak job market, higher costs for food and clothing and recent stock market turmoil, the falling confidence numbers raise new concerns about their willingness to spend and jumpstart the economy.

That’s particularly important since consumer spending accounts for 70 percent of U.S. economic activity.

“Consumer confidence deteriorated sharply in August, as consumers grew significantly more pessimistic about the short-term outlook,” said Lynn Franco, director of The Conference Board Consumer Research Center in a statement. Read the rest

OBAMANOMICS: Consumer Confidence Hits Another Record Low

Get used to these four words, because they are the Gospel truth. “Worse than Jimmy Carter.” More great news on the economic front as confidence has slipped to a new low, breaking the record old low set by the Obama Regime. Now that’s funny in a twisted sort of way. Obama sets a record low, then a week or a month later, breaks his own record! Oh how I long for the good old days of the Carter economy!

(Reuters) – Consumer confidence has fallen further after weeks of intensified economic concerns and broad stock market declines, and Conference Board data due later this month could be even weaker than current projections suggest, Consumer Edge Research said on Monday.

Readings from high, middle and low-income consumers all deteriorated sharply, due mainly to dramatic declines in outlook, the independent equity research firm said.

The firm’s Consumer Economic Index is now at 45.4, down 10 percentage points from July and down 1.5 points from the 46.9 level it reported on August 10. Two days after that report, the Thomson Reuters/University of Michigan’s preliminary August reading showed that U.S. consumer sentiment had fallen to its lowest point since May 1980.

The 45.4 reading is the lowest since Consumer Edge Research began its index.

Y’know, a few years ago guys like me told you this was going to happen, and what did you do? Well, you voted for him anyway, but that’s not what I was getting at. You called us racists, Klansmen, astroturf, tea baggers, rednecks, extremists, terrorists, and a lot of other names.

Maybe next time you’ll listen to us if you want to avoid looking like an ass again. Swallow the false pride and admit guys like me are rarely wrong, and guys like Obama always are.

OBAMANOMICS: Consumer confidence now lower than the Carter years

“Worse than Jimmy Carter, he needs to leave.” Not just a slogan anymore! It is the gospel truth and the evidence and proof are irrefutable. Numbers and facts don’t lie nor do they spin.

Jimmy Carter’s worst year was 1980 in which the unemployment rate was at 7.2%, inflation (as figured by CPI) was 13.6% giving Carter a record misery index of 20.8.

Last year, under Barack Obama unemployment was 9.5%, inflation (as figured by CPI) an astounding 27.67%, giving Obama a record smashing misery index of 37.17.

For those that doubt the inflation rate. Let’s look at the facts:

Cotton is up 132 percent. Agricultural raw materials up 39 percent. Oil up 21 percent. Coal up 36 percent. Metals up 57 percent. Coffee up 70 percent. Wheat up 62 percent. Beef up 39 percent. Fish up 31 percent. Hard logs up 19 percent. Soft logs up 27 percent. Rubber up 79 percent. Wool up 57 percent. Fertilizer up 39 percent.  Soy beans up 42 percent. Corn up 58 percent. Silver up 60 percent. Industrial Inputs Price Index up 51 percent. Commodity Food Price Index up 30 percent. Commodity Fuel Price Index up 20 percent. Overall Commodity Price Index up 20 percent.

And to think, even when presented with the hard, cold facts, there are still some that are willing to try and get this guy reelected! That just defies logic.

And through it all Carter managed to keep the AAA credit rating of the United States. Barack Obama, the only president in history that managed to blow it, and downgrade our credit rating. And some of you still want to vote for this total failure? What the hell is the matter with you? I guess what they say is true. Misery loves company, huh?

High unemployment, stagnant wages, gridlock in Congress, and a stockmarket slump all contributed to a consumer mood that was as grim as when Jimmy Carter was President during the recession of 1980 and interest rates were more than 20 percent.[...]

The preliminary August reading on the consumer sentiment index fell to 54.9 in early August, down from 63.7 in July, and the index has fallen for three straight months in the Thomson Reuters/University of Michigan survey.

Unemployment at 9.1 percent of the workforce, low wage rises, and the protracted debate in Congress over raising the U.S. government debt ceiling spooked consumers, survey director Richard Curtin said in a statement.

“Never before in the history of the surveys have so many consumers spontaneously mentioned negative aspects of the government’s role,” Curtin said.

“This was more than the simple recognition that traditional monetary and fiscal policy measures were largely spent. It was the realization that the government was unable or unwilling to act,” Curtin added.

Bad economic times were expected by 75 percent of all consumers in early August, just below the all-time peak of 82 percent in 1980. Buying plans for household durables and vehicles declined in early August, falling back to their recession level lows.

Like I said, “worse than Jimmy Carter, he needs to leave.”

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NOTICE: "The Admiral" is up north taking some much needed time off. There are fresh articles posting daily so please keep checking in. Regular publishing will resume Monday June 4th.