Skip to comments.Consumer confidence in June worst in eight months
Posted on 06/28/2011 8:19:12 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) Consumer confidence fell in June to the worst level in eight months on concerns about employment and income, the Conference Board reported Tuesday.
The nonprofit organization said its consumer-confidence index fell to 58.5 in June from an upwardly revised 61.7 in May. Economists surveyed by MarketWatch had expected a June reading of 60.5.
Overall, we take this as another sign of the cooler economic conditions that we judge likely to prove transitory, but the data does point to downside risks for a rebound in the labor market in June, wrote David Resler, chief economist at Nomura Securities International, in a research note.
(Excerpt) Read more at marketwatch.com ...
Being the economy is the sum of human activity, it's important to try and sample what the average Joe is thinking. Apparently he isn't particularly positive or convinced by Obama's 'recovery' that things are getting better.
They keep trying to re-inflate the economy, unfortunately the baloon has a massive hole consisting of 30+% decrease in real estate values and 20% real unemployment. They are just making it worse.
That 30+ decrease in real estate values and the 20% unemployment were done on purpose.
Never let a crisis go to waste.
Don’t have a crisis, create one.
Freddie and Fannie got us here.
Their solutions only make the situation worse, demanding another solution. It is a downward spiral.
When I examine the U.S. economic numbers, the debt bomb, the issues surrounding the debt ceiling, etc., in the context of what’s happening internationally, I get a very, very bad feeling about this.
Something nasty’s afoot and I can’t quite figure out the direction from which the next blows to this economy are going to come from. However, when I read that 15 EU banks fail stress test, I’m becoming more concerned about a “rolling” economic financial collapse. Economies based upon these fiat currencies are at great risk at the moment.
Consumer confidence in politically correct politics, business and academia is too high. Let’s notch ‘er down a little more, friends. ;-)