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HUGE MISS: CONSUMER CONFIDENCE PLUNGES TO 60.6
Business Insider ^ | 08/28/2012 | Mamta Badkar and Eric Platt

Posted on 08/28/2012 7:20:43 AM PDT by SeekAndFind

Consumer confidence missed big in August falling to 60.6. The reading is the lowest since November 2011. Meanwhile, July's reading was revised down to 65.4.

"Consumers were more apprehensive about business and employment prospects, but more optimistic about their financial prospects despite rising inflation expectations," according to Lynn Franco, Director of Economic Indicators at The Conference Board.

"Consumers' assessment of current conditions was virtually unchanged, suggesting no significant pickup or deterioration in the pace of growth."

But the number is still above 60, showing the report wasn't a complete disaster. Here are some highlights from the report:

The percent saying business conditions are "good" climbed to 15.2 percent, from 13.7 percent.

The percent saying business conditions are "bad" was unchanged at 34.4 percent.

The percent saying jobs are "plentiful" fell to 7 percent, from 7.8 percent.

The percent saying jobs are "hard to get" eased to 40.7 percent from 41 percent.

The percent of consumers expecting business conditions to improve over the next six months fell to 16.5 percent, from 19 percent.

The percent jobs to increase in the months ahead declined to 15.4 percent from 17.6 percent.

The percent expecting fewer jobs climbed to 23.4 percent from 20.6 percent.

(Excerpt) Read more at businessinsider.com ...


TOPICS: Business/Economy; Culture/Society
KEYWORDS: 2012; bhoeconomy; confidence; consumer; democrats; economy; elections; obama; unexpected

1 posted on 08/28/2012 7:20:51 AM PDT by SeekAndFind
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To: SeekAndFind
"Unexpectedly"...
2 posted on 08/28/2012 7:21:58 AM PDT by 5thGenTexan
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To: SeekAndFind
Probably because of Isaac. People don't want to appear to be "insensitive" by going shopping while the people of New Orleans are "suffering".

sarc/off

3 posted on 08/28/2012 7:24:18 AM PDT by FlingWingFlyer (Had enough of the freaks running the show yet?)
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To: SeekAndFind

Yes, but, the Jeffry Bartash article on marketwatch.com helpfully pointed out that: “While consumers are less hopeful about the future, however, they said they’ve seen little deterioration in the economy, either.”


4 posted on 08/28/2012 7:24:45 AM PDT by John W (Viva Cristo Rey!)
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To: SeekAndFind

I think this is just reflecting a loss in confidence of Obama. How can anyone take President Kardashian seriously at this point? People are just losing hope he has any idea how to fix this mess.


5 posted on 08/28/2012 7:27:57 AM PDT by lodi90
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To: John W
“While consumers are less hopeful about the future, however, they said they’ve seen little deterioration in the economy, either.”

While funeral goers acknowledged that Bob was dead, they also stated that he didn't look any more dead than he did at the wake.

6 posted on 08/28/2012 7:28:17 AM PDT by pieceofthepuzzle
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To: SeekAndFind
Is it just me or do these kinds of reports come out every other day? It seems like just late last week consumer sentiment was up, housing sales were down, housing starts were up, etc., then a few days later just the opposite and a few days after that it swings the other way again. I'm beginning to think most of this crap is made up and they just follow a release schedule, changing a few words in the same article over and over to fit whatever storyline the MSM is currently trying to push.
7 posted on 08/28/2012 7:28:38 AM PDT by aegiscg47
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To: SeekAndFind

All this... yet Obama leads by two (47%-45%) in today’s Rasmussen poll. Go figure.


8 posted on 08/28/2012 7:33:53 AM PDT by ScottinVA (If Obama is reelected, America will deserve every mockery that follows.)
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To: SeekAndFind
This is where the Obama media earns their money...to take the most Godawful situations and circumstances and preen, fluff and tweak them with a positive spin.
9 posted on 08/28/2012 7:36:08 AM PDT by JPG (Make it happen.)
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To: pieceofthepuzzle

You have interpreted this bizarrely-written and quoted article well - I would just add something on the order of “Bob was dead but he looked better than he had for years and his body temperature was above 60, so Bob’s personal situation was much better than the news of him being dead would have appeared to a casual reader at first glance”.


10 posted on 08/28/2012 7:45:33 AM PDT by laconic
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To: lodi90

Which is why I think these polls are idiotic.

I can’t imagine many people out there who think this economy is on the right track. Most people who have been severely damaged by this administration.

And so the polls are accurate at 50/50? Nope. That just doesn’t compute to me.


11 posted on 08/28/2012 7:47:03 AM PDT by DoughtyOne (Americans want what Americans always wanted: Better lives for families; little government authority.)
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To: SeekAndFind
This sounds like one of the news reports in the book 1984.
12 posted on 08/28/2012 7:47:35 AM PDT by upchuck ("Definition of 'racist:' someone that is winning an argument with a liberal." ~ Peter Brimelow)
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To: lodi90

Which is why I think these polls are idiotic.

I can’t imagine many people out there who think this economy is on the right track. Most people know people who have been severely damaged by this administration.

And so the polls are accurate at 50/50? Nope. That just doesn’t compute to me.


13 posted on 08/28/2012 7:47:44 AM PDT by DoughtyOne (Americans want what Americans always wanted: Better lives for families; little government authority.)
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To: SeekAndFind

Let me see if I have this right: Consumer confidence has fallen to 60.6%, unemployment has been over 8% for 43 straight months, the national debt has risen 5 trillion in less than four years, gas prices have more than doubled in less than four years, and food and energy prices are rising, but according to the MSM Obama is still well-liked and popular?

One of two things will (obviously) happen this November: Obama will buck ALL the trends from the past 75 years and be re-elected, even while presiding over the worst economy since the great depression, OR all the trends from the past 75 years will continue and Obama will be shown the door. The MSM would have us believe it’s the former. I say Obama is toast.


14 posted on 08/28/2012 7:48:43 AM PDT by Kharis13 (That noise you hear is our Founding Fathers spinning in their graves.)
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To: lodi90

It may also be the case that a lot of people have come to realize that even if Romney were to win, there’s nothing he’s going to do that will improve the economy. If Romney is elected, and once that sinks in, the markets will take another wild dip into the toilet.


15 posted on 08/28/2012 7:52:38 AM PDT by Rich21IE
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To: laconic

Excellent!


16 posted on 08/28/2012 7:57:45 AM PDT by pieceofthepuzzle
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To: SeekAndFind

Dow should be up 200 points today.


17 posted on 08/28/2012 7:59:03 AM PDT by RS_Rider (I hate Illinois Nazis)
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To: SeekAndFind

18 posted on 08/28/2012 8:10:04 AM PDT by Uncle Miltie (You didn't build that. The private sector is doing fine. We tried our plan and it worked.)
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To: DoughtyOne

I agree. Romney is not behaving as a candidate who is losing. Obama, however, is acting desperate.. I think if the race were held today Romney wins 54-46, and he hasn’t even spent any of his campaign cash yet.


19 posted on 08/28/2012 8:26:15 AM PDT by KansasGirl ("If you have a business, you didn't build that. Somebody else made that happen."--B. Hussein Obama)
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To: pieceofthepuzzle

Normalcy bias


20 posted on 08/28/2012 8:34:08 AM PDT by griswold3 (Big Government does not tolerate rivals.)
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To: KansasGirl

I honestly agree with that. I’m not voting for Romney, but I expect him to mop the floor with Obama. I’ll be glad to see that, because Obama and the Dems deserve to be destroyed. I am not going to enjoy the next four years though. It is going to be a very painful thing to watch, if what I see happening comes to fruition.


21 posted on 08/28/2012 8:34:27 AM PDT by DoughtyOne (Americans want what Americans always wanted: Better lives for families; little government authority.)
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To: KansasGirl; All

Plus Obama spent a good portion of his campaign cash already.


22 posted on 08/28/2012 9:29:18 AM PDT by KevinDavis (Romney / Ryan 2012)
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To: FlingWingFlyer

The MSM will find many excuses - none will include Obama.


23 posted on 08/28/2012 9:42:35 AM PDT by GOPJ (Homeland Paranoid Insecurity: Making the country safe for liberal elites...)
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