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 ...
Yup! Saw that a few weeks back as travel took a noticeable dip. Bookings dropped. Between the supply chain issues, inflation, and madness mandates...
Yea...we have entered recession territory even if no one is willing to talk about yet.
Still about 50 points high, given our current direction.
p
There’s a NSFW meme going around about “interacial couple (screws) entire nation” with a pic of Joe & Kamala.
Not graphic (thank goodness) but language alert.
=
So what? They’re in power and they’re not going anywhere. And what are we going to do about it? Nothing.
Please explain what that means.
or Karen
What will it be like in two years? Will the government suddenly change heart and rescind everything that they are imposing on us? No,
.....................................................
This whole nightmare fiasco foisted on America by the anti-American Left, currently in control of the Democrat Party and its Deep State overseers, can be brought to a screeching halt by Republicans if they take control of both Houses of Congress next year.
Often wrong...never fired.
Yes, I know. They looked to be having a good time.
Too bad Lawford had to get mixed up with them.
Yes. Can’t be stated enough.
July 2021-
President Joe Biden said the strong June jobs report proves his economic plan and his nationwide vaccination plan are working better than expected.
So how can he blame this downturn on Trump?
If Trump were still in office, the media would be all over
him 24/7/365, just blistering him with what is taking place
right now.
They see it. They know things are really bad. They just
won’t let the public see it.
Some visible Leftists are going on the record with truth
on some topics. They still can’t let it all hang out.
The men and women of the press these days have no idea
how badly they are betraying this nation
The only other instance where I’m sure it got this bad, is
when Hitler was cleaning house in Germany and beyond.
I know it may have happened in Russia and other places
as well. I just can’t reference how complicit their
press was as the Iron, Bamboo, or other curtains came
down.
At some point, the people are going to be very very angry
about what has taken place. The Press and University
professors that betray this generation are not going to
get a free pass at some point.
It won’t be us who goes after them.
When the pain really hits and is wide-spread, people are
going to die. And it won’t be the Left’s enemies that
are going to be responsible for it.
People don’t like being betrayed.
I would love to see a graph of this UM number for the last 30 or so years. I believe it was well above 100 during trump’s years.
And yes... when the “experts” (whoever they are) expect a 2-3% rise, a figure that is 1-2% lower IS a crash. Stock markets have gone from humming along into “bear market” mode on that.
I encourage Freepers who are concerned about Democratic voters to head to the nearest cemetery and start cursing at the head-stones.
That is the leading Democratic Party demographic.
Biden’s Socialist Economic Policies remain on the ash heap of history - but the Left and Biden keep it alive, like walking dead. Biden and the Left represent the walking dead.
Despotic government and the Biden’s in this world ALWAYS blame the people for government’s own gross errors and mistakes. Been going on throughout history.
GOVERNMENT’S meddling with supply and demand is almost always at bottom of shortages. Every socialist country known to man has had systemic shortage problems and Biden, the Rats, and the Left have been moving America to even more socialism very quickly.
Command and control economies of socialist countries never work because people are demotivated to work when they’re either given government “free money” or they cannot keep the money they earn when government taxes the hell out of them. Generally government interference in the marketplace disincentiveizes individual productivity. Government ownership or control of supply and demand leaves people lethargic - there is no self interest there to work and gain a profit.
Why do you think for the last 100 years things like “profit” and “self interest” has been labeled as such bad things by the Delusional Lying Dictatorial Left? Because those are the God-given means of increasing individual wealth in the marketplace free from government interference. Everybody wants to profit including those who work in government but government steals your money because politicians and bureaucrats are the premiers of greed.
Self interest is not greed but is God-given and what makes us all generally look for what’s best for out lives. And as Adam Smith pointed out in “The Wealth of Nations”, each person looking for their own good benefits society without realizing it - the “Invisible Hand” of wealth increase”. The marketplace free from government interference - the voluntary cooperation between buyer and sellers in the marketplace is wealth-producing freedom at work.
Individual freedom brings wealth and life whereas unlimited government and socialism brings poverty and death. The destroyers of nations are their own despotic governments. Patriots must do whatever it takes to restore our Free Constitutional Republic.
Please tell me what “LET’S GO BRANDON!!!” means.
He tried to warn:
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.