Posted on 02/23/2010 9:34:55 AM PST by b4its2late
Consumer confidence missed consensus expectations by a wide margin, coming it at just 46.0 vs. 55.0 expected. This was also a substantial drop form January's 56.5 reading.
Markets are tanking.
The worst part of the report appears to be the Present Situation Index, which collapsed to a 27-year low:
Conference Board:
The Present Situation Index decreased to 19.4 from 25.2. The Expectations Index declined to 63.8 from 77.3 last month. The Consumer Confidence Survey® is based on a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by TNS. TNS is the world's largest custom research company. The cutoff date for February’s preliminary results was February 17th.
Says Lynn Franco, Director of The Conference Board Consumer Research Center: "Consumer Confidence, which had been improving over the past few months, declined sharply in February. Concerns about current business conditions and the job market pushed the Present Situation Index down to its lowest level in 27 years (Feb. 1983, 17.5).
(Excerpt) Read more at businessinsider.com ...
Wow, this is “unexpected” - NOT!
Phony BS.
It’s very simple. people are waking up to the fact that we have a “Traitor in Chief” and they don’t feel like there’s anything they can do about it.
I also think that realizing who Obama really is is mind-numbing. It causes anyone to lose their balance. It takes a while to get over a shock like that.
It’s no wonder no one os buying anything.
There’s that “unexpected” thing again.
You know that game “between the sheets” where you finish every sentence with “between the sheets”.... well i think it’s high time to make headlines on FR play the “unexpected” game...
“Consumer Confidence, which had been improving over the past few months, declined sharply in February”
It was in February that obama resurrected the BEAST known as Obamacare and Pelosi made it clear that the Dems were on board with Reconciliation....
Why can’t Congress get the point. Consumer confidence and satisfaction with one’s government go hand in hand.
Take home message: The people are fearful of their government and, thus, they are fearful of their future.
Oooooooh. They found a new way to say it.
Exactly. Consumers do NOT trust Zero or the ‘Rats in Congress. (Don’t expect it to be reported that way by the MSM, though;)
It starts...
Mind-numbing is a good explanation.
I think the 27 year low is significant though.
How’s that Hopey, Changey thing workin’ out for US??????
Change you can believe in.
Obama’s on a suicide mission. He’s going to try to ram this thing through no matter what the American people think.
Narcissism of this degree will tolerate NO disagreement.
The Democrats who go along with this will be jumping off the electoral cliff with him.
Obama IS a pathological narcissist.
It’s a bonafide diagnosable psychological disorder.
It is not a desirable malady for a power-hungry dictator to have....(at least it’s not good for the serfs)
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