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Consumer confidence falls on gloomier jobs view (consumers grow more pessimistic in June 2009)
Market Watch ^ | 6/30/2009 | Ruth Mantell

Posted on 06/30/2009 10:12:08 AM PDT by SeekAndFind

WASHINGTON (MarketWatch) -- A reading on U.S. consumer confidence relapsed in June, falling to 49.3 from a slightly downwardly revised 54.8 in May, as worries grew about jobs and the economy, the Conference Board reported Tuesday.

Following a large confidence jump in May, consumers grew more pessimistic in June about their present and future. Economists polled by MarketWatch had expected the June result to hit 55.5, continuing recent confidence gains.

"On balance, this was a disappointing report as it has clearly bucked the trend of improving consumer sentiments in the past few months," wrote Millan L. B. Mulraine, economics strategist with TD Securities, in a research note. "Moreover, with the details of the report uniformly weak, we are left with the impression that this was an outright slump in consumer confidence."

The present situation index declined to 24.8 in June from 29.7 in May, while the expectations index fell to 65.5 from 71.5, according to the Conference Board.

"The decline in the present situation index, caused by a less favorable assessment of business conditions and employment, continues to imply that economic conditions, while not as weak as earlier this year, are nonetheless weak," said Lynn Franco, director of the Conference Board's Consumer Research Center, in a statement.

"Looking ahead, expectations continue to suggest less negative conditions in the months ahead, as opposed to strong growth," said Franco.

The percentage of consumers with plans to buy an automobile within six months fell to 4.6% from 5.7%, while those with plans to buy a home fell to 2.7% from 2.8%, and those with plans to buy major appliances fell to 26.5% from 29.2%.

Consumers' inflation rate expectations for 12 months rose to 5.9% from 5.6% in May.

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


TOPICS: Breaking News; Business/Economy; Culture/Society; News/Current Events
KEYWORDS: 111th; 2009polls; bhoeconomy; consumerconfidence; economy; second100days; thecomingdepression; unemployment

1 posted on 06/30/2009 10:12:08 AM PDT by SeekAndFind
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To: SeekAndFind
OBAMANOMICS!
2 posted on 06/30/2009 10:14:31 AM PDT by Obadiah (Obama: Chains you can believe in!)
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To: SeekAndFind
This Index attempts to measure the perception of people towards aspects of the economy.

What leaps off the page is that the confidence level is falling even with State TV continually praising the deeds of the 0bama administration.

3 posted on 06/30/2009 10:15:51 AM PDT by spald
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To: SeekAndFind

But, but, but... ABCNBCCBSCNNMNSNBC says there are green shoots! Ignore the numbers... Obama says projections are up! Hopes are up! The new numbers should be coming in any time now! Annnnnnnd... He’s created or saved something like 1,500,000,000,000,000,000 jobs!


4 posted on 06/30/2009 10:16:40 AM PDT by snowrip (Liberal? YOU ARE A SOCIALIST WITH NO RATIONAL ARGUMENT.)
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To: SeekAndFind

Smart consumers.


5 posted on 06/30/2009 10:17:10 AM PDT by TheWasteLand
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To: snowrip

Yeah, green shoots, but Obama is Round-up.


6 posted on 06/30/2009 10:17:39 AM PDT by Obadiah (Obama: Chains you can believe in!)
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To: SeekAndFind

just wait till they get a gander at their first post-Waxman-Markey electric bill...


7 posted on 06/30/2009 10:17:41 AM PDT by Buckeye McFrog
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To: SeekAndFind
I've always thought that this survey has to be one of the dumbest things ever, especially how it changes drastically every month on a whim. When it's bad news you don't hear much about it, but if it had gone up for a second straight month we would never hear the end of how Obama is saving the economy!
8 posted on 06/30/2009 10:22:12 AM PDT by aegiscg47
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To: SeekAndFind
wow, so OBAMA'S CARTE BLANCHE STIMULUS PLAN (COMPRISING OF 1600 PAGES WHICH NO ONE BOTHERED TO READ) COSTING US ONE TRILLION DOLLARS ($1,000,000,000,000 OR $1,000,000 X 1,000,000) OF OUR HARD EARNED MONEY CANT GIVE A MEASLY BUMP IN CONSUMER CONFIDENCE???

The problem is not the so-called stimulus plan but what its real intent was about: not to stimulate anything but to buy votes at election time.

9 posted on 06/30/2009 10:24:06 AM PDT by prophetic (God, let 0Bama and his evil plans for this country fail & let him be utterly disgraced like HAMAN!!)
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To: Buckeye McFrog

Hey, -—— They wanted “Change” !

They are getting “Change” ......

“Chump Change”

I hope all the people that voted this Fraud into office have a nice long look at how things are Changing.


10 posted on 06/30/2009 10:24:42 AM PDT by EnglishOnly (Fight all out to win OR get out now.)
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To: SeekAndFind

On CNN, some news chick was crowing about the latest market rally and how we are all happy now and more supersonic unicorn crap. They are so driven to see their guy be sucessfull, they can see the forest for all those damn trees in the way. Hey news chick, run full speed ahead until your forehead contacts a nice East Texas pine tree. Might knock some sense in to ya.


11 posted on 06/30/2009 10:32:41 AM PDT by Texas resident ( Cut n Shoot Texas: Got it's name honestly.)
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To: SeekAndFind
those lagging indicators are starting to kick some real ass....
12 posted on 06/30/2009 10:34:34 AM PDT by sfvgto (Dear Congress, my name is Jimmie....gimmie, gimmie, gimmie)
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To: SeekAndFind; Admin Moderator

shouldn’t this be in breaking news?

The Hussein worshipping media isn’t trumpeting this newz.


13 posted on 06/30/2009 11:12:12 AM PDT by Recovering_Democrat (I'm SO glad I no longer belong to the party of Dependence on Government!)
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To: SeekAndFind
Here is my antidotal input...

My business started falling off last fall gradually and bottomed out in March. April was a little better, and May was pretty good. June however was pretty bad and felt a lot like January and February. The phone is hardly ringing now, except for cold calls from other businesses trying to sell me something.

Sigh...

I smell double dip recession and I am getting nervous.

14 posted on 06/30/2009 11:30:39 AM PDT by TexasFreeper2009
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To: SeekAndFind

Huh?

Wasn’t it at like, 106 in January of 2007? How could it have fallen so much?

What was it that happened in January of 2007? I just can’t put my finger on it...


15 posted on 06/30/2009 11:33:19 AM PDT by South Hawthorne (In Memory of my Dear Friend Henry Lee II)
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To: SeekAndFind
The MSM's cheer-leading doesn't seem to be working.

The only folks who are happy are Democrat activists because the "Economic Stimulus" is a trillion dollars in campaign money.

16 posted on 06/30/2009 11:38:24 AM PDT by Carry_Okie (We have people in power infatuated with evil.)
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To: Squantos
The idiots up on top are only seeing the results of people like us who simply aren't buying anything extra! We're only buying what we need, and then in quantity. All we have to do is keep this up for another year and we can drag the entire mess into such a miserable hole that nobody will recognize this nation afterwards! Then again, even without us that would happen!

Have you noticed the cash deals lately? Holy smokes! There are some great deals out there if one has cash!
17 posted on 06/30/2009 11:47:24 AM PDT by hiredhand (Understand the CRA and why we're facing economic collapse - see my about page.)
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To: SeekAndFind

Where are the jobs Obama?


18 posted on 06/30/2009 12:01:50 PM PDT by TennTuxedo
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To: TennTuxedo

Reality bites the Baraqqis.
Despite the snow job from the MSM, there is hope for the 2010 elections.
We need to push hard to stall Cap N Tax and Obamacare.


19 posted on 06/30/2009 12:05:10 PM PDT by nascarnation
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To: TexasFreeper2009

Just got word today of a 5 percent pay cut. Crap. We hit our target in the first quarter, but not for the second it looks like...


20 posted on 06/30/2009 12:10:21 PM PDT by rwfromkansas ("Carve your name on hearts, not marble." - C.H. Spurgeon)
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To: TennTuxedo
"Where are the jobs Obama?"

Jobs destroyed by Obama since taking office:

Jan -741,000
Feb -681,000
Mar -652,000
Apr -504,000
May -340,000

Total job destruction since Obama takes office = 2,918,000

http://data.bls.gov/PDQ/servlet/SurveyOutputServlet?series_id=CES0000000001&output_view=net_1mth

jobs = self sufficiency = liberty

all things Obama wants to destroy

21 posted on 06/30/2009 12:12:43 PM PDT by Gabrial (Obama Lied - The Republic Died)
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To: SeekAndFind
OBAMA'S FAULT.

It looks like people are starting to figure out Obama’s distraction tricks.

22 posted on 06/30/2009 12:32:39 PM PDT by tobyhill
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To: Gabrial

as of june 20th, the U.S. had lost 627,000 jobs in the first 3 weeks of June alone.


23 posted on 06/30/2009 12:45:43 PM PDT by TennTuxedo
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To: SeekAndFind

I have cut all spending other than necessities until we have a change in government. Will not give the current Socialist administration one red cent more than absolutely have to.


24 posted on 06/30/2009 12:47:35 PM PDT by reader25
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To: reader25
I speak with small business owners everyday. A huge majority are cutting back, or selling (if possible). The crap is hitting the fan, just as Our Favorite Marxist is unloading on America.

The time is now.

25 posted on 06/30/2009 12:51:07 PM PDT by gathersnomoss (General George Patton had it right.)
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To: TennTuxedo
Current administration and Congress will not be happy until a full 20% is unemployed. Then they will push through even more draconian controls over the economy on the basis of helping those they put out of a job due to their Socialist polices.
26 posted on 06/30/2009 12:51:11 PM PDT by reader25
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To: Obadiah
Yeah, green shoots, but Obama is Round-up.

Quote of the Day.

27 posted on 06/30/2009 1:01:52 PM PDT by randog (Tap into America!)
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To: hiredhand

Yep. We have custom bed tanks on the trucks an FJ80 Landcruiser. We fill em at a local wholesale outlet for cash at awesome prices. Each bed tank hold 200 gal an the FJ has 72 gal capacty. We deal in cash where possible an fuel is only one.

We barter an trade. I am house sitting this summer for friends. They have a pool so I am living large an my own homes utilites are less than 30 dollars. Saving cash gettin a tan etc ....


28 posted on 06/30/2009 1:22:56 PM PDT by Squantos (Be polite. Be professional. But have a plan to kill everyone you meet)
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To: Owl_Eagle
What was it that happened in January of 2007? I just can’t put my finger on it...

It's on the tip of my tongue.

29 posted on 06/30/2009 1:54:01 PM PDT by TwelveOfTwenty (Hey Nancy, how many jobs have been lost since you and the Democrats took Congress?)
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To: SeekAndFind

Guess you can’t deny reality forever.


30 posted on 06/30/2009 2:34:02 PM PDT by TheThinker (America doesn't have a president. It has a usurper.)
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To: TwelveOfTwenty

You’re right, this whole mess started with a greedy, power-mongering Democrat Congress. Bush may have rolled over like a kicked dog but he hasn’t been driving this train.


31 posted on 06/30/2009 2:39:12 PM PDT by TheThinker (America doesn't have a president. It has a usurper.)
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To: SeekAndFind

I think our country will have to tank so badly before the dumbed down masses & highly educated Phd idiots & left wing millionaires & billionaires realize that 0boooomba & the socialist demoRATs are destroying our country, and need to be removed by force if necessary. Especially since socialism never gives up without a fight.


32 posted on 06/30/2009 2:55:22 PM PDT by rcrngroup
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To: SeekAndFind
Consumers are smart. They can read the tea leaves. Malls are dying. GM is in the government crapper along with Chrysler, AIG, Citibank, etc. 3,000,000 breadwinners are newly out of work. None of Obama’s “stimulus” is working. And the twin nuclear bombs of economic destruction have yet to go off (nationalized health care and cap and trade). Trillion dollar deficits stretch out for at least a decade.

It has only been 5 months of Obama. Yes, consumers are smart.

33 posted on 06/30/2009 3:06:33 PM PDT by Gabrial (Obama Lied - The Republic Died)
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To: snowrip
... He’s created or saved something like 1,500,000,000,000,000,000 jobs!

No! No! At least twice that, maybe more. And none of them pollute even a tiny bit. And they're all "meaningful."

34 posted on 06/30/2009 5:35:12 PM PDT by NaughtiusMaximus (Uh, Mr. President, did you lose your contact lense OR ARE YOU PRAYING?)
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To: TennTuxedo

We will all be fine once the government windmill factories get up and running.


35 posted on 06/30/2009 6:53:23 PM PDT by headstamp 2 (Spay or Neuter your liberal today!)
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To: EnglishOnly

They will never admit to it even if they are capable of critical thought. Demrat voters—and so called Pubbie Moderates (AKA RINOs)—are totally dumbed down and propagandized.

Instead, any remorse they may feel for putting the Marxist Onada into the WH will be expressed in even more intense hatred of conservatives.

I was talking to a guy on a bench at EPCOT. Just a nice conversation while awaiting the return of the wives and children/grandchildren from shopping or whatever.

I won’t go into all the details, but somehow we swerved into politics. Turns out he was democrat. Anyway, the most salient thing he said is that the left is this country ONLY stands for compassion—taking care of the people (especially children). It has nothing to do with socialism or communism. He actually told me he, and those like him, care more about my children than I do.

The bottom line is that he really thinks he is morally and intellectually superior to any conservative. He really believes conservatives are evil people. Therefore, it is beneath him to even talk to a conservative—let alone discuss politics with a conservative. I asked him a couple of question of simple yes or no questions. He jumped up like he was scalded and literally ran away from me.

The whole encounter was bizaar.


36 posted on 07/01/2009 5:42:02 AM PDT by dools007
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To: dools007
The children thing is the key, liberals deep down feel extreme guilt over the murder of millions of aborted children. They try and make up for it by “protecting” the ones that actually survive the abortion holocaust, that's why our children are forced by law into car seats till they are practically grown, it is just liberals over compensating for their guilt.
37 posted on 07/01/2009 8:52:08 AM PDT by TexasFreeper2009
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To: Obadiah

he is killing us


38 posted on 07/01/2009 11:31:28 AM PDT by Munz ("We're all here for you OK? It's a circle of love" Rham Emanuel)
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To: dools007
The bottom line is that he really thinks he is morally and intellectually superior to any conservative. He really believes conservatives are evil people.

Yes, I know many liberals I would characterize this way. I don't know how we got to this point as a nation...

39 posted on 07/01/2009 11:39:38 AM PDT by Patriotic1 (Dic mihi solum facta, domina - Just the facts, ma'am)
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To: Patriotic1

Here’s how we got here:

1. The left coopted the US Supreme Court for 50 years. Although there is a constitutional majority on the court today, there is no guarantee it will persist. In any case, much of the damage done by liberal court is still in place.

2. The left coopted education from K through university. Now it is setting its sights on day care.

3. The left coopted the news media.

4. The left coopted religion.

5. The left coopted the GOP. It has become a tool of the Demrat Party. There has been no viable opposition to the Demrat Party since Reagan’s presidency.

6. The left’s persistent and long term campaign to denigrate America and the American family through junk music, movies and science has reinforced the propaganda it spreads in the schools and churches/synogogs.

My friend, it’s quite clear how we got here.


40 posted on 07/02/2009 6:44:17 AM PDT by dools007
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To: dools007

I meant in terms of the personal animosity and contempt. And this among regular people, not just the activists!


41 posted on 07/02/2009 11:21:21 AM PDT by Patriotic1 (Dic mihi solum facta, domina - Just the facts, ma'am)
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To: SeekAndFind
...You fools voted for me so obey!
42 posted on 10/27/2009 11:16:40 AM PDT by AngelesCrestHighway
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