Posted on 10/15/2021 1:08:21 PM PDT by Hojczyk
U.S. consumer sentiment took a surprise downturn in October to the second-lowest level since 2011.
The University of Michigan’s preliminary October read of consumer sentiment fell to 71.4 from 72.8 in September, data released Friday showed. Economists had forecast an improvement to 74.
Richard Curtin, the survey’s chief economists explained the downturn:
Consumer sentiment has remained for the past three months at the lows first recorded in response to last year’s shutdown of the economy. The Delta variant, supply chain shortages, and reduced labor force participation rates will continue to dim the pace of consumer spending into 2022. There is another, less tangible factor that has contributed to the slump in optimism: confidence in government economic policies has significantly declined during the past six months.
Just 19 percent of consumers have a favorable view of President Joe Biden’s economic policies, down from a high-water mark of 31 percent in April. Unfavorable evaluations now stand at 48 percent, up from 32 percent in April, Curtin said.
The public’s loss of confidence is widespread. According to Curtin, the decline was recorded across all age, income, and education subgroups as well as among Democrats, Independents, and Republicans.
“The adage ‘never let a crisis go to waste’ mirrors the range and scale of Biden’s progressive proposals, but consumers see it as too risky a strategy,” Curtin said.
The measures of both current conditions and expectations for the future declined in the first two weeks of October, the survey showed.
(Excerpt) Read more at breitbart.com ...
Yeah, I guess so.
Honestly, I had been thinking of Sanatra, Martin, Peter Lawford, and Sammy Davis Junior.
I know they were known as the ‘Rat Pack’, but I thought they
had been known as the ‘Wrecking Crew’ also.
The Wrecking Crew may have done some background for them.
They did for Nancy Sanatra.
Thanks for the mention. Think I have it right now...
Don’t think Lawford sang. He just hung with them.
Surprise? -- to whom? -- the clueless?
After Biden was elected...
I predicted that gasoline and energy costs would skyrocket. I predicted that there would be massive inflation. And I now predict that the Middle East will break out in war. Maybe even nuclear war.
And China will take Taiwan, North Korea will attempt to take South Korea, we will have another 9-11. Maybe 2 or 3 more 9-11s.
I am still on the fence as to whether the United States will end up in Civil War. But I do expect that government will start arresting Americans in mass.
China is in trouble internally as there is undercurrent that is revolt against the CCP
Ya. They need a country that has a massive technology sector to infuse much needed capital into their economy.... Taiwan is ripe for the picking.
And the United States will not defend Taiwan. My suggestion to the Taiwanese is to prepare for self destruction and if the Chinese invade, destroy the thing that the Chinese want... the Taiwanese technology.
A lot of countries around the world depend upon Taiwan. Maybe for those countries will come to the aid of Taiwan if they believe that the “chips” will stop flowing.
I would like to hear about this, if/when it happens.
The United States, Australia, India and Japan ( the quad) stand ready to defend Japan. The UK recently joined as a friend to the declared coalition.
You’ll know. You and everyone on FR will be on “the list” if we are already.
Haven’t you seen the signs? I can list them but if you have been paying attention, then you know.
And have you been watching Australia? And Canada? How much would it take for the United States to fall to their level? Not much.
Good for Japan. But after Afghanistan, if Japan were smart they’d be considering the possibility of the United States bailing on them.
There is a hatred for Japan from China.
Lawford was just their inroad to the Kennedys.
SO WHAT THE ‘BRANDON’ IS WRONG WITH THOSE IN THAR 19%?
BTW, I know... crazy talk.
But it would have been crazy two years ago to say that the United States would force their citizens to be vaccinated, take away their ability to feed their families, force them into their homes.
What will it be like in two years? Will the government suddenly change heart and rescind everything that they are imposing on us? No, they will keep marching forward... towards the “Great Reset” when they can “build back better.”
Whatever Biden/AOC/Bernie Bro/Pelosie/Schumer demand do the opposite.
A 1.4 pt drop is a crash??
You must not be getting out much. I’ve seen the increases. Also seeing some shortages.
Only a complete idiot would have had confidence in
Brandon’s economic policies, that or a democrat.
Question is when does it get hot?
I do strongly believe in the US Constitution. It is the best we have got and I think that the problem is that we have been gutting it and cutting it to the bone. We need a reset back to the fundamentals and origins. For starters, the Federal Government has way too much power.
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