Posted on 10/28/2008 9:27:52 AM PDT by meandog
By Steven C. Johnson
NEW YORK, Oct 28 (Reuters) - U.S. consumer confidence plunged to a record low in October as a worsening financial crisis made Americans anxious about their jobs and pessimistic about the future, a report said on Tuesday.
The Conference Board said its index measuring consumer sentiment tumbled to 38.0 in October from an upwardly revised 61.4 in September. That was the lowest reading since the index began in 1967. The previous low was 43.2 in December 1974.
"The sharp drop in the consumer confidence index shows that consumers have been really battered, and this last month in particular really took a toll on consumers' outlook," said Terrin Griffiths, economist and industry analyst at California Credit Union League in Rancho Cucamonga, California.
"It shows that consumers are seeing the downturn as having a longer duration."
(Excerpt) Read more at reuters.com ...
Yet another discontinuity. If consumers were really behind Obama, wouldn’t this rating be going up? After all, the election is just a formality before the One takes charge and changes everything?
Trade deficit = job deficit.
MAKE HERE - START NOW
If consumer confidence is low now, just wait until “The One”. is elected. Are they going to call the tent cities Obamavilles or Barrack’s barracks(sp/).
Good point. We need to return to the trade surpluses of the 1930’s.
How about the trade surplus 50’s?
As has been pointed out to you countless times, much of the industrial capacity of the developed world was still rubble in the 1950’s. Ours wasn’t.
By jove you got it.
Just wait til Christmas rolls around.....
But I don’t think you do. Trade deficits rise when our economy expands, and fall when our economy contracts.
Generally.
Inversely proportional to the perception of an Obama win.
fwiw, there are actual head counts on jobs and tallies on trade. If we went and dug out the numbers and showed them here, is there a chance they could they make a difference in your views, or have already made a decision on this without the numbers?
You can trot out all the macro numbers you want, consumer confidence has made the decision and voters will render their choice on their economy.
Get real. News at 11. 11/4 that is. A wakeup call for those who think the economy is great for all because it is great for them. Majority rules.
That's an interesting way of looking at the world. Why bother with data when we can vote on it instead? Let me get the ball rolling: I vote the Earth is flat.
Maybe he's on the wrong site?
After Candidate A wins: "See? It's not a bad idea after all."
Voters vote on how well their economy is doing. If you want to win elections, that’s the objective. Majority determines.
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