Skip to comments.Consumer Confidence Collapses - Biggest Miss On Record
Posted on 09/13/2013 8:21:26 AM PDT by Zakeet
This is the first consecutive monthly drop in 14 months and the largest miss vs expectations on record. Printing at 76.8 (against an expectation of 82.0), this is the lowest in 5 months and points to the picture we have been painting of a consumer increasingly affected by rising rates and soaring gas prices amid stagnant incomes. As Citi notes below, this is the exact same pattern we have seen play out in the last 2 cycles and suggest significant downside risk to US equities. The economic outlook sub-index collapsed to its lowest since January.
Biggest miss on the headline data on record...
(Excerpt) Read more at zerohedge.com ...
Up to about five seconds before this announcement, main stream economists considered consumer confidence to be a leading economic indicator ... meaning that it predicted our future prosperity!
How can there be confidence in a rodeo clown?
Yet the Dow Jones is soaring. When the music (read: money printing) stops, it’s going to be ugly.
I’m still waiting for the Christmas shopping season stats that exposes the reality of our economy to everyone. Of course, the government will try to redistribute as much money as possible into the hands of the “spendthrift poor” to bolster it.
The Dow Jones is in a bubble caused by the Fed’s 85 billion monthly bond buys. The only place to actually make money that beats actual inflation is in equities.
If they think this is bad wait another 12-24 mos and then you will see dismal.
You've got your "clowns" confused:
From the Online Urban Dictionary.
ass clown (ás kloun) n.: one, who, through the fault of his parents conception, is a skid mark in society's collective underwear.
lol. Yeah, well there is that.
All they have to do is include all the “spending” on healthcare and it will show dramatic growth. ;-)
Stocks soar when US companies replace American workers with workers overseas (immediate impact on the bottom line & forecasts); the idea that a rising stock market is directly tied to American workers’ well-being is done. In fact, the exact opposite it true.
First consecutive? Interesting turn of a phrase...
Sounds more like the name of a church or bank!
It is easy to have confidence in a rodeo clown! Now if what you really mean is a pretender to the white house who does not meet constitutional qualifications, is an enemy of the country and is doing everything possible to hasten our demise and cannot stand to have a little fun poked at him by a rodeo clown. well, that is a little different matter.