Free Republic

My Dear Extended Family, We all know bank’s balance sheets are cartoons due to FASB’s capitulation on the fair market value issue, that the euro financial leaders do not deserve the title leader, and that the Fed is the source of liquidity for Euroland in unlimited cheap dollar swaps, but there is more. That more is the first failure of a major clearing house. Clearing is the mechanism of all markets. It is the guts of the system. It is the engine under the hood of finance. It is the pulleys that turn inside the watch. It is basic to...

Oct. 25 (Bloomberg) -- Consumer confidence unexpectedly slumped in October to the lowest level since March 2009, when the U.S. economy was in a recession, as Americans' outlooks for employment and incomes soured. The Conference Board's sentiment index decreased to 39.8 from a revised 46.4 reading in September, figures from the New York-based private research group showed today. This month's reading was less than the most pessimistic forecast in a Bloomberg News survey in which the median projection was 46. Limited job availability, deteriorating home values and the threat of a European debt default are weighing on sentiment. A drop...

The nonprofit organization said its consumer-confidence index declined to 39.8 in October from a September level of 46.4, which was upwardly revised from a prior estimate of 45.4. Economists polled by MarketWatch expected a reading of 46 for October; when the economy is growing at a good clip, confidence readings are at 90 and above... ...The Conference Board’s expectations barometer fell to 48.7 in October from 55.1 in September. The percentage of those who expected business conditions to be “better” in six months declined, while most expected the same conditions...

...LYNN SHERR: Do you feel as if the other candidates have been ganging up on in the debates? RICK PERRY:“When you come into the fray and you’re leading in the polls, you’re going to get attacked by everyone. I get it. I’m a big boy, and I know how to play that game. “ Your critics say you’re not electable... “Well, I disregard that. Americans are looking for somebody to stand up and tell them the truth, and I have a record to back it up. Ultimately, if I can explain my heart, my jobs record, and my philosophy to...

The Hot New Theory About What Happened To The US Economy Joe Weisenthal Oct. 8, 2011, 6:27 AM Something weird is happening with the economic data in September: It's okay! Datapoint after datapoint screams: The economy is mediocre, but it's not collapsing. For example... * The September jobs report was a lot better than the August jobs report. * Rail traffic is growing. * Car sales were downright HOT in September. * Retail sales? Check. * Construction spending was fine too. There was certainly some weak data, as things are not amazing, but the numbers haven't been heart-stopping the way...

As expectations slightly gained, consumer confidence ticked higher in September while remaining at low levels, the Conference Board reported Tuesday. The nonprofit organization said its consumer-confidence index rose to 45.4 in September from 45.2 in August, when it had plunged on worries about jobs and the U.S. debt, among other factors... Economists surveyed by MarketWatch had expected a September reading of 46.1...The August confidence reading was upwardly revised from a prior estimate of 44.5.

President Barack Obama is getting hammered on all sides for a stumbling U.S. economy and his uneven response to it, raising pressure on him to take steps to create jobs or risk being ousted in next year's election. With markets in turmoil and the jobless rate stuck above 9 percent, Obama is struggling to instill a sense of confidence that there is a way out of the maelstrom. He received negative reviews from pundits for a speech on Monday that offered no new policy ideas and failed to cushion a steep sell-off on Wall Street. The president also is getting...

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...

WASHINGTON (MarketWatch) — Consumer confidence recovered somewhat in April, though the impact of a spike in gasoline prices is still evident, according to data released Tuesday by the Conference Board. The confidence index hit 65.4 in April, compared with an upwardly revised 63.8 in March. That’s still below the 72.0 reading of February, as gasoline prices nationally have approached $4 per gallon. The increase came as consumers’ 12-month inflation expectations declined to 6.3% in April from 6.7% in March. In addition, consumer views about the present situation improved.

~ EXCERPT ~ Voter confidence that the nation’s best days are still to come has fallen to its lowest level ever. A new Rasmussen Reports national telephone survey of Likely Voters shows that just 31% believe America’s best days are in the future. That’s down three points from last month and is the lowest result found in polling since late 2006. Fifty-three percent (53%) believe America’s best days are in the past, also the highest measurement in over four years. Sixteen percent (16%) are undecided. Separate polling finds that only 22% of Likely Voters believe the United States is now...

A teacher stands in front of her classroom of students. She begins to review some of the previous day’s homework that she assigned her students to study and complete. She asks: “Can someone give me the answer for question #1?” She then adds with a smile: “Remember to raise your hands if you have the answer.” The response is mixed. Some of her students almost literally jump out of their seats as their hands shoot skyward. With great enthusiasm they chime in: “I know it, I know it! Pick me, teacher! Pick me!” These students had obviously “done their homework”...

n March 15, ABC News, in cooperation with the Washington Post, released the results of a new survey done by Langer Research Associates. One of the questions asked about the level of confidence that US citizens have in our system of government today.

Recent poll data suggest that Americans have woken up to the fact that Barack Obama is an empty suit, and the Democrats have nothing to offer in terms of policy solutions. First, President Obama. Today's Rasmussen Reports finds that among likely voters, President Obama has matched his lowest standing ever. He now ranks at -22 on the Approval Index, defined as the difference between those who strongly approve and strongly disapprove of his performance: [Graph] Rasmussen also finds that the voters' preference for Republicans over Democrats is growing, as the current generic Congressional preference survey has Republicans ahead by 46-37....

The share of Americans planning to buy an auto in the next six months rose to 13.2% this month, easily the highest reading since the Conference Board began tracking this measure in 1978. Auto sales for GM(GM), Ford (F) and others have been hot in recent months. Auto loan credit approvals for first-time buyers have risen for the first time since the start of the recession, climbing 4.5% since October, LeaseTrader.com said.

Charles Darwin observed “ignorance more frequently begets confidence than does knowledge.” That was certainly true in 1995 when a man named McArthur Wheeler boldly robbed two banks in Pittsburgh without using a disguise. Security camera footage of him was broadcast on the evening news the same day as the robberies, and he was arrested an hour later. Mr. Wheeler was surprised when the police explained how they had used the surveillance tapes to catch him. “But I wore the juice,” he mumbled incredulously. He seemed to believe that rubbing his face with lemon juice would blur his image and make...

Confidence In The U.S. Will Collapse And Change Will Come With Alarming Speed John Browne, EuroPac Nov. 5, 2010, 4:41 PM This week, desperation became palpable at the Fed. In both the formulaic statement that accompanied its FOMC policy decision and Chairman Ben Bernanke's unusual (and clumsy) Washington Post op-ed follow up, the guardians of our currency expressed grave disappointment at the slow pace of US economic recovery and emphasized the continued threat of deflation. The Fed is now pledging to defeat this recession using any monetary means necessary. Unfortunately, their embrace threatens to smother our economy. Despite its paternalistic...

Confidence in government economic policies has fallen to the lowest level since the closing months of the Bush presidency, with just 11% of consumers holding favorable evaluations of Obama’s policies. Although mid-term elections primarily respond to local rather than national issues, residents of nearly all local areas expressed economic discontent. It would not be surprising for confidence to rebound after the election; it would be surprising if those gains proved to be more than temporary. If the lame duck Congress does not immediately pass an extension of the Bush tax cuts, not even deep discounts will secure modest gains in...

Gallup is the oldest major polling organization in America.  It has a strong interest in credibility with the public, because if its polls are wrong then its value drops to nothing.  Gallup Polls, by and large, are fairly accurate reflections of what is actually polled.  So when Gallup asks Americans in different states about their ideology, the reported data seems reasonable.  The problem, however, is that unless one looks at the data and not at how Gallup entitles its polls, big stories are lost.  As one example, Gallup in the last year or so has finally begun asking Americans about...

Consumer Confidence Plunges In September Gregory White Sep. 28, 2010, 10:01 AM Consumer confidence fell to 48.5 in September, a big drop over August's 53.5. August's numbers were a surprising improvement, rising over July's 51. Markets are sliding on the data: Dow down 0.64% NASDAQ down 1.16% S&P 500 down 0.86% Click here for 20 signs the American consumer is completely tapped out >[snip]

OMAHA, Neb. — Despite positive economic signs in nine Midwest and Plains states, fewer of the supply managers surveyed for the July Business Conditions Index are confident about the regional recovery. In the Mid-America report released today, the July confidence index dropped to 54.8, its lowest level since February 2009. The overall index dipped to 60.8 from 62.5 in June and 64.2 in May. The report uses a collection of indexes that range from zero to 100, and any score above 50 suggests economic growth in the next three to six months. The report is overseen by Creighton University economist...

Uncertainty about the economy continued to shake consumer confidence in July, pushing a key measure of morale to the lowest level since February. The Conference Board, a New York-based research group, said Tuesday that its Consumer Confidence Index dropped for a second straight month, to 50.4 in July from June's upwardly revised level of 54.3. July's reading was lower than expected. Economists had forecast the index to have ticked down to 51 in July from 52.9 in June, according to a consensus estimate from Briefing.com. "Consumer confidence faded further in July as consumers continue to grow increasingly more pessimistic about...

Consumer gloom in July reached its highest level since the recession was near the bottom amid fears that the expansion remains too weak to create many jobs, according to the IBD/TIPP Economic Optimism Index out Tuesday. Meanwhile, a gauge of small-business confidence retreated in June to a level typical of a "weak or recession-mired economy" as the sales outlook deteriorated sharply, the National Federation of Independent Business said Tuesday.

Ask any housing expert worth their salt why home prices are falling again and you’ll likely hear a litany of reasons, all of which sound completely plausible: tax credit expiration, weak job market, high inventory levels, shadow supply, strategic defaults, negative equity, and a tight lending environment. This sort of analysis isn’t wrong, per se, but all too often discussions about home prices and the real estate market ignore the most fundamental of all economic indicators: confidence. Shifts in confidence are closely tied to movements in the stock market. And, as I've written previously, the stock market is the most...

Americans, worried about jobs and the sluggish economic recovery, are having a relapse in confidence, causing a widely watched index to tumble in June and raising concerns about consumer spending in the critical months ahead. The Conference Board, a private research group based in New York, said Tuesday that its Consumer Confidence Index dropped almost 10 points to 52.9, down from the revised 62.7 in May. Economists surveyed by Thomson Reuters had been expecting the reading to dip slightly to 62.8.

NEW YORK – Americans, worried about jobs and the sluggish economic recovery, are having a relapse in confidence, causing a widely watched index to tumble in June and raising concerns about consumer spending in the critical months ahead. The Conference Board, a private research group based in New York, said Tuesday that its Consumer Confidence Index dropped almost 10 points to 52.9, down from the revised 62.7 in May. Economists surveyed by Thomson Reuters had been expecting the reading to dip slightly to 62.8. June's reading marked the biggest drop since February, when the index fell 10 points. The index...

I guess we really shouldn't be surprised. After all, this is what Obama and his team of globalists wanted, wasn't it? It's pretty much what he promised his hate-America base. If anyone was listening, they would have heard it. US Treasury Secretary Timothy Geithner has told the BBC that the world "cannot depend as much on the US as it did in the past". He said that other major economies would have to grow more for the global economy to prosper. He also played down any differences in policy between the US and Europe regarding deficit reduction. Mr Geithner was...

NOORVIK, Alaska, April 21, 2010 – A joint medical team recently deployed to a remote village in northern Alaska, where earning trust often is the first step to getting patients through the door. Air Force Maj. Emily Cerreta consults Laura Ballot, mother of 23-month-old Hikerr Snyder, during his well-baby checkup April 14, 2010, in Noorvik, Alaska. Cerreta is a family nurse practitioner from the 433rd Airlift Wing at Lackland Air Force Base, Texas, and is in Alaska for Operation Arctic Care, a joint medical training exercise. U.S. Air Force photo by Master Sgt. Jack Braden  (Click photo for screen-resolution image);high-resolution image...

Nearly 80 percent of Americans say they do not trust the U.S. government to do what is right, expressing the highest level of distrust in Washington in half a century... Only 22 percent of Americans say they trust the government "just about always" or "most of the time,"... Americans' trust in the federal government has been on a steady decline from a high of 73 percent during the Eisenhower administration in 1958, when the "trust" question was first posed in a national survey.

WASHINGTON (AP) — America's "Great Compromiser" Henry Clay called government "the great trust," but most Americans today have little faith in Washington's ability to deal with the nation's problems. Public confidence in government is at one of the lowest points in a half century, according to a survey from the Pew Research Center. Nearly 8 in 10 Americans say they don't trust the federal government and have little faith it can solve America's ills, the survey found. The survey illustrates the ominous situation President Barack Obama and the Democratic Party face as they struggle to maintain their comfortable congressional majorities...

Two senior congressional Republicans on Sunday declined to express confidence in Republican National Committee chairman Michael Steele after revelations that the RNC spent $2,000 entertaining potential contributors at a sex-themed nightclub. The controversy over Steele's leadership of the Republican National Committee comes as the party is hoping to seize back control of the U.S. Congress from President Barack Obama's Democrats in November congressional elections. But Steele's stewardship of the RNC is threatening to distract Republicans at a pivotal time. Asked whether Steele should step down, Senator Jon Kyl, the Senate's number two Republican, said on the "Fox News Sunday" program:...

I just heard on the news that the Consumer Confidence Index was up for March at 52.5, up 6.1. I don't really follow this or understand it, but I usually notice whether it is up or down. Then they added that it is normally around 90! WHAT? I had not ever heard that before. I thought I would look into it a little bit. Wikipedia good enough for my casual inquiry. "The Consumer Confidence Index was started in 1967 and is benchmarked to 1985=100. This year was chosen because it was neither a peak nor a trough. The Index is...

WASHINGTON (Reuters) – Democratic leaders in the Congress voiced confidence on Sunday they will have the votes, possibly within a couple of months or so, to pass landmark legislation to overhaul the healthcare system. Facing a wall of Republican opposition, Democrats have said they may resort to a rarely used procedural tactic, .. reconciliation, to win approval on purely partisan votes. President Barack Obama, who hosted a White House summit last week that produced no sign of bipartisan compromise, is to announce this week how he would like Democrats to proceed on a top legislative priority. "Our members, everyone of...

he IBD/TIPP Economic Optimism Index rose 2 points in January to 48.8, the first gain in four months but the sub-50 reading still indicates pessimism. Yet the six-month outlook gauge shot up 5.1 points to 51.8, the first upbeat reading since September. “The defining thing is going to be jobs, jobs, jobs. There is no shying away from that,” said Raghavan Mayur, president of TIPP, a unit of TechnoMetrica Market Intelligence, IBD’s polling partner. “We have a new year and people are hoping that the economy will continue to go, and they’ve also been told to wait for mid-2010 for...

Consumer Confidence, 2010: Off To A Less Gloomy StartJust 9 Percent of Americans Rate the Economy Positively Analysis by Peyton M. Craighill Jan. 5, 2010 Consumer confidence is off to a less-awful start in 2010, with the ABC News Consumer Comfort Index rising this week to its best in 16 months. Consumer Comfort Index Chart (/ABC News)Better is far from good: The CCI stands at -41 on its scale of +100 to -100, far lower than its 24-year average of -12, much less its record highs a decade ago. But it's its best since September 2008, up 10 points since...

Consumer Confidence Grows Last Update: 29-Dec-09 10:25 ET The Conference Board's Consumer Confidence Index rose in December to 52.9 from 50.6 in November, which was just below the consensus estimate of 53.0. The jump in confidence mirrors December's boost to the University of Michigan Consumer Sentiment index. The details of the report are somewhat puzzling. The entire increase in the index was due to the Consumer Expectations index rising from 70.3 to 75.6 in December. The Present Situation Index actually declined from 21.2 to 18.8 in December. Given that the present situation index is highly correlated with the current employment...

“Fear Gauge” At Its Lowest In Over A Year By Addison Wiggin 12/24/09 Baltimore, Maryland – 1) As we approach the end of the decade, we take stock of The Daily Reckoning’s beloved “Trade of the Decade.” You know it by heart, right? “Buy gold on dips, sell stocks on rallies.” Bloomberg News has tallied up and reported the satisfying results. “A $100 investment in gold would now be more than $380,” Bloomberg calculates, “while the same sum in commodities would have grown to about $357, according to the Standard & Poor’s GSCI Enhanced Total Return Index.” How will this...

Campaigning is not being President...

The Reuters/U. of Michigan Consumer Sentiment November report just hit the wire and the results are not looking good. Sentiment fell during early November to the weakest level in three months due to a weak economy and lagging job market. The index of consumer expectations fell to 63.7 in early November from 68.6 in October. Reuters: "Confidence tumbled in early November due to the grim financial realities faced by consumers as well as weaker economic prospects for the year ahead -- importantly, the decline in confidence was already in place before the announced increase in the unemployment rate to 10.2...

U.S. consumers turned decidedly more pessimistic in October, according to a report released Tuesday, with households increasingly worried about job prospects. The Conference Board, a private research group, said its monthly Consumer Confidence Index fell to 47.7 this month, from a revised 53.4 in September, which was originally reported as 53.1. The current month's reading was well below economists' projections of 53.2, according to a survey conducted by Dow Jones Newswires. The downturn in consumer confidence at this stage of the recovery is to be expected, as it has occurred in previous recoveries (please see chart below), and does not...

Consumer Confidence? Ha!Tuesday, October 27. 2009 Posted by Karl Denninger Gee, this is a green shoot.... NEW YORK, Oct. 27 /PRNewswire/ -- The Conference Board Consumer Confidence Index®, which had declined in September, deteriorated further in October. The Index now stands at 47.7 (1985=100), down from 53.4 in September. The Present Situation Index decreased to 20.7 from 23.0 last month. The Expectations Index declined to 65.7 from 73.7 in September. The kicker.... In fact, the Present Situation Index is now at its lowest reading in 26 years (Index 17.5, Feb. 1983). The short-term outlook has also grown more negative, as...

Stocks aren't the only things falling--America's confidence in Wall Street and banks is plummeting too. Last year this time, the markets nosedived after the Lehman bankruptcy on Sept.14, 2008. One year later, how has public opinion fared? How do Americans feel about the institutions that have dominated the headlines in our cascading financial crisis? Fortunately for students of public opinion, several survey organizations have been asking identical questions about our confidence in the financial world for decades. In 1977, Harris asked about people "in charge of running Wall Street," and 19% of those polled expressed a great deal of confidence....

Fifty-five percent see the nation heading on the wrong track, up from 48% in April. Opposition against a public healthcare option is also up. Reporting from Washington - Public confidence in President Obama's leadership has declined sharply over the summer, amid intensifying opposition to a healthcare overhaul that threatens to undercut his attempt to change the system, according to a new Washington Post-ABC News poll. * * * Among all Americans surveyed, 49% express confidence that Obama will make the right decisions for the country, down from 60% at the 100-day mark in his presidency. Forty-nine percent say they think...

Stock futures signal sharp drop after Asia selloff On Monday August 17, 2009, 4:28 am EDT PARIS/LONDON (Reuters) - Stock index futures extended their losses early on Monday, mirroring a selloff in Asian and European stocks on mounting worries the equities' recent surge had run ahead of the global economic recovery. At 4:18 a.m. EDT, futures for the S&P 500 were down 1.92 percent, Dow Jones futures were down 2.11 percent and Nasdaq 100 futures were down 2.11 percent. Chinese stocks (^SSEC - News) sank 5.8 percent to their lowest close in two months on Monday on worries about added...

Consumer confidence took its second consecutive monthly drop in July, the Conference Board reported Tuesday, underscoring still-gloomy sentiment about the U.S. economy. The index dropped to 46.6 in July from an unrevised 49.3 in June. In May, the confidence gauge stood at 54.8. The confidence measure was worse than expected. Economists surveyed by MarketWatch were expecting confidence to dip to 48.0 in July from the June reading. See Economic Calendar. The weaker-than-expected July number helped to sap stocks after the opening on Tuesday. The Dow Jones Industrial Average (INDU 9,320, +33.63, +0.36%) was recently off by 37 points. The June...

NEW YORK (AP) -- Americans' confidence in the economy eroded further in July as worries about job security offset any enthusiasm about the resumed stock market rally that has helped bolster retirement accounts. The souring outlook presents yet another obstacle for stores' critical back-to-school season. The New York-based Conference Board said Tuesday that its Consumer Confidence Index, which retreated last month, fell to 46.6, down from 49.3 in June. Economists surveyed by Thomson Reuters were expecting a reading of 49. It would take a reading above 90 to signal that the economy is on solid footing.

It seems as if the "hope" part of "hope and change" is not working. It could be because the change part is not change for the better. As the economy continues to fall into the abyss, it is clear whether the numbers were "misread" or the policy was just wrong, that the President's economic policy is a failure. Even in congress there is realization that the stimulus didn't work. Many in congress are calling for a new stimulus bill to get the economy going even though only about 10% of the original stimulus has been spent. Others are calling for...

How confident are you in President Obama's summer jobs plan? Very confident Somewhat confident Not confident at all

Where is the Juice?Lois Tverberg, August, 2001 Jer. 17:5 Lord, "Cursed (Arur) is the man who trusts in mankind and makes flesh his strength, whose heart turns away from the Lord. He will be like a bush (arar) in the desert, and will not see when prosperity comes, but will live in stony wastes in the wilderness, a land of salt without inhabitant. Jer 17:7 But blessed is the man who trusts in the Lord, whose confidence is in Him. For he will be like a tree planted by the water, that extends its roots by a stream. It...

NEW YORK (Dow Jones)--U.S. stocks surged, with the Dow Jones Industrial Average up more than 150 points, after a jump in consumer confidence offset a weak report on housing prices. In a morning report, the Conference Board said its index of consumer confidence for May jumped to 54.9 from 40.8 in April, which was originally reported as 39.2. The index is now at its highest since September, the board said. Expectations for economic activity over the next six months jumped to 72.3 from 51.0 in the prior month. In a holiday-shortened but economic data-heavy week, investors were hoping the consumer...

President Barack Obama on Monday ordered his Cabinet to find ways to slice spending by $100 million, but acknowledged it's a "drop in the bucket" and said there's a "confidence gap" that he needs to overcome. Just back from a Latin America summit, Obama told the first formal Cabinet meeting of his administration that vast spending to combat the economic crisis was "the right thing to do." But he also said taxpayers still need to know that every dollar they give the government is being spent wisely. "We also have a deficit _ a confidence gap _ when it comes...