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Going Down! Consumer Sentiment Slumps To 7 Month Low In 5-Sigma Miss (As PPI Final Demand Sinks And Fed Loses MORE Money)
Confounded Interest ^ | 06/14/2024 | Anthony B. Sanders

Posted on 06/14/2024 8:36:36 AM PDT by Kaiser8408a

We’re going down!

Moments ago the University of Michigan released the latest “report card” on Bidenomics, and to nobody’s surprise – except perhaps a certain senile teleprompter reading, diaper-wearing puppet in the White House – it was another disaster.

One month after the May Consumer Sentiment printed at a record 7-sigma miss to expectations, consumer sentiment once again “unexpectedly” slumped, this time from an upward revised 68.8 to 67.6, the lowest print since last November, and the biggest 3-month drop in sentiment (-13.8 points) going back to the covid lockdowns.

… which was not only a 5-sigma miss to the median estimate (an improvement from last month’s 7-sigma)…

… but also the biggest miss of 2024.

The collapse in sentiment was broad based, and hammered both current conditions – which plunged from 69.6 to 62.5, the lowest since 2022 and badly missing estimates of 72.2 – and also expectations, which dropped from 68.8 to 67.6 (and also far below the 72.0 estimate).

In short: the verdict for Bidenomics is in, and it’s a complete disaster, as for Powell’s recent laughable comment that he can’t see the “stag” nor the “flation”… well, Fed chair, they just bit you on the ass.

On top of a poor consumer sentiment report, the PPI Final Demand index was down … again.

And The Fed and Powell keep losing money.

Biden at the G7, His new name is “The Wanderer.”

(Excerpt) Read more at confoundedinterest.net ...


TOPICS: Business/Economy; Food; Government; Politics
KEYWORDS:

1 posted on 06/14/2024 8:36:36 AM PDT by Kaiser8408a
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To: Kaiser8408a

The MSM was touting this report this morning on the news EXPECTING it to exceed the estimates!.................It did...........just the wrong direction!...


2 posted on 06/14/2024 8:39:05 AM PDT by Red Badger (Homeless veterans camp in the streets while illegals are put up in 5 Star hotels....................)
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To: Kaiser8408a

Sudden AND unexpected


3 posted on 06/14/2024 9:25:34 AM PDT by The Louiswu (Pray for Peace in the world.)
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To: Kaiser8408a

No no no. Local Miami media has been telling me the economy is going GREAT.


4 posted on 06/14/2024 9:41:21 AM PDT by Recovering_Democrat
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To: AdmSmith; AnonymousConservative; Arthur Wildfire! March; Berosus; Bockscar; BraveMan; cardinal4; ...

5 posted on 06/14/2024 10:43:38 AM PDT by SunkenCiv (Putin should skip ahead to where he kills himself in the bunker.)
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To: Kaiser8408a

Well that’s an improvement. That analysis was only off by 5 times the estimated error rather than 7 times the estimated error in the previous estimate. Things are looking up for the accuracy of the prognosticators.


6 posted on 06/14/2024 11:08:57 AM PDT by AndyJackson
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To: Kaiser8408a

My portfolio loves the wall of worry presented on a regular basis at CF.


7 posted on 06/14/2024 3:30:56 PM PDT by Jacquerie (ArticleVBlog.com)
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To: Kaiser8408a

8 posted on 06/14/2024 7:21:47 PM PDT by P.O.E. (Pray for America.)
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To: AndyJackson

“We missed by 50 miles instead of 70”.


9 posted on 06/14/2024 7:29:52 PM PDT by Texas resident (Biden=Obama=Jarrett=Soros)
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