Posted on 05/17/2012 7:42:36 AM PDT by Jim from C-Town
We have seen three very loud and very clear messages this week on the state of the US consumer's mind. After a few months of extravagance, on the back of what can only be described as depression-fatigue, reality is biting once again. The Bloomberg Consumer Comfort index just missed expectations by its greatest amount in three years and has plunged over the last 5 weeks by the most in four years - dropping back to four-month lows. Do these two messages explain the catastrophe that is JCP's results this quarter? We suspect so as the outlook for the economy (sub-index) has plummeted by the most in 14 months - once again echoing the last two years and the end of the central-bank easing periods exposing the sad reality beneath.
(Excerpt) Read more at zerohedge.com ...
This is Historicaly the time of the year that hope springs eternal. Yet, here in Obamaville, even the onset of spring is metwith depression!
—Looks like the party is over for the Obama Administration. —
Add this to the news about the bank runs yesterday and today in Spain and Greece, and it looks like the party is over for the world.
Fortunately, our garden is doing nicely.
Some are starting to understand why I say that I believe now more than ever that Obama will not finish his term. This is going to be a very interesting year. Once this stuff starts to actually unravel it’s gonna happen really fast.
Doesn’t make sense. CBS news has been reporting for the last three nights in a row that everything is coming up roses; consumer confidence, home buying, employment. Who am I supposed to believe?
Headline: Economist unexpectedly find evidence of comfortless recovery.
I'm thinking we are double dipping like a bad ice cream cone.
The stock market’s finally getting a clue.
More bad news as the day goes on-—
Philly Fed factory index turns negative
Manufacturing activity shrinks in May for first time since September
People who pay taxes are slowly but permanently catching on.
It’s not economically worth it for them any more.
Even if you’re rich - there’s not much stuff out there to buy anyway that’s not throwaway junk anyway. Travel - yuck. Entertainment - yuck.
And the future ? Greece.
I am buying food, lead, medicines, and other essential supplies, but I am not returning to the market as a recreational consumer until the socialist is out of our White House. If Obama is still there on January 21, 2013, I’m starting preparations to go off grid permanently. I will not contribute to an economy that anti-American bigots are using to destroy our country.
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