DJIA Down 33 As I Post
Posted on 05/31/2013 7:15:07 AM PDT by blam
CONSUMER CONFIDENCE SOARS IN MAY TO HIGHEST READING SINCE 2007
Matthew Boesler
May 31, 2013, 9:55 AM
Brady Hoke
UPDATE: The consumer confidence report is out.
The headline index rose to 84.5 in May from 76.4 in April.
Economists expected the number to come in at 83.7, matching the preliminary estimate published by the University of Michigan earlier this month.
The economic conditions sub-index rose to 98.0 from 89.9 in April, exceeding the preliminary May estimate of 97.5.
The economic outlook sub-index rose to 75.8 from 67.8 in April, beating the preliminary estimate of 74.8.
Inflation expectations one year ahead and five years ahead were both unchanged from April at 3.1% and 2.9%, respectively.
(Excerpt) Read more at businessinsider.com ...
DJIA Down 33 As I Post
It’s sort of an ‘On The Beach’ situation though.
Consumer Confidence? Really? What is the ‘confidence’ about? Is it about the fact that more and more ‘Americans’ (and illegals, and non-citizen resident aliens) are on food stamps (SNAP), TANF, EITC, SSI/SSDI, WICs and the rest of the 85+ handout programs available to the sloths among us?
That confidence?
Consumers Most Confident Since 2007, Celebrate By Biggest Spending Drop In One Year
Confidence isn't always a good thing...
Someone needs to tell consumers this as they are behaving otherwise.
The 47% are blissfully ignorant - the checks keep coming in every month, the EBT card balance just keeps going up - what’s not to be confident about?
How does this headline tie up with this one:
http://freerepublic.com/focus/f-news/3025774/posts
US consumers cut spending 0.2 percent in April after income fails to grow
So true! Until the 53% start fighting back and going Galt, reducing their tax bites, and preparing for what is to come.
I know that I’ve cut my income (that which was stolen from me) voluntarily and have paid off all my debt in every category. I now only buy important things.
I guess it’s easier for the drones to get excited when their nightly news doesn’t tell them how high the gas prices are every night. Or how high the food prices are....Suddenly $3.60 a gallon is a bargain. The new normal. Good times. I remember freaking out when the prices hit $1.70. It was insane only 10 years ago.
Or even the price of bread or milk....Most times, milk that is not store brand is more than a gallon of gas.
Could it be that people see the Obama administraion on the ropes and hope that he and some of his people will be impeached ?
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