Posted on 04/15/2005 7:25:05 AM PDT by RogerWilko
WASHINGTON (MarketWatch) -- U.S. consumer sentiment faded in April on higher gasoline prices, a weak labor market and sagging stock prices. The University of Michigan's consumer sentiment index fell to 87.7 in mid-April from 92.6 in March, according to media reports on the proprietary research. Economists were expecting a decline to about 91.3. The current conditions index slipped to 103.9 from 108, while the expectations index fell to 79 from 82.8.
Then using the new predictions from these "economists"... The markets go even lower, because expectations weren't met! If these so-called "economists" think that people's sentiment is only going to drop about a point after their 401Ks take beating and they're having to empty out their wallets for a tank of gas, I think they need some new "economists"!
DAMN... I'm not an "economist", and I could of made a better guess than they did!
Add in: Bush's continued support for illegal immigration; higher property taxes in most parts of the country; the Repubs' caving on many important issues; the apparent death of SS reform; etc.
Add-in:
Sarbanes-Oxley destroying corporate profits especially for smaller companies.
Ballooning cost of the new prescription drug entitlement program.
Accelerating deficit spending, which will lead to massive inflation.
Argentina here we come!
I'm not a very sentimental guy, so maybe I'm dragging the index down. Sorry, everyone.
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