Consumer Sentiment Crashes as Confidence in Biden Economic Policies Collapses

Breitbart ^ | 15 Oct 2021 | JOHN CARNEY

[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.

[null and void]

dhs12345 ~ But I do expect that government will start arresting Americans in mass.

Lazamataz ~ I would like to hear about this, if/when it happens.

You won't.

There will be no news reports.

No post alluding to it will appear on any social media or forum or blog.

It will be like The Rapture.

One day you'll look around and notice that half the people in your town aren't there. (Or you'll be one of the people who simply isn't there).

As if by magic...

[null and void]

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.”

Demand side economics. Remove half the population demand, prices drop...

[bert]

What effect doe the lack of used car inventory and chip less new truck and auto reduced sales have on overall consumer spending?

[null and void]

A 1.4 pt drop is a crash??

It's a crash if The Agenda needs it to be a crash.

For bonus points, what does their saying it's a crash tell you about their true agenda?

In other news: "We are still at war with Eastasia but the good news is that our weekly chocolate ration is being raised from 30 grams to 25 grams. So belly up to the bar, Winston, and have another slug of Victory Gin."

[null and void]

The men and women of the press these days have no idea
how badly they are betraying this nation

Sez you. I think most of them know exactly what they are doing.

Prove me wrong.

[FreedomVsControl]

Yep. The msm at the national level, most of the personnel are either CIA or directly connected to it.

[null and void]

The dumb as a post talking head on your local station, maybe not.

But they wouldn’t have a microphone if they didn’t unquestioningly, uncritically follow orders...

[Blood of Tyrants]

And yet there are some clowns (a distant cousin of mine) that believe that Zho Xiden is doing a MUCH better job than Trump. (He also claims that he has voted Libertarian his whole adult life ans also claims that he doesn’t identify with any political party. :rolleyes:

[Jim W N]

I got it now.

The phrase "Let's go Brandon" is referring to a viral video of the NASCAR Racer.

In the video, the crowd behind him is chanting "f*** Joe Biden" however, the NBC reporter is claiming the chant is "let's go Brandon," which has since been referred to as a form of damage control.

https://www.the-sun.com/news/3849893/what-does-lets-go-brandon-meme-mean/

It has nothing to do with the racecar driver Brandon. He just got caught in a moment where the crowd in the background was chanting "FU Biden". The lying interviewer called it a chant for Brandon.

[ecomcon]

Next up- War.

[Parley Baer]

Biden has an economic policy? Who knew?

[DoughtyOne]

That’s true too.

[DoughtyOne]

They think they do.

They are selling us out into Communism.

Do you think they realize their life will be tossed upside
down with everyone else.

No gas, means no gas for anyone. No food, means no food for
anyone. On down the line, they will be losing their homes
and their livelihoods too.

They think the good little sell-outs will be protected.

LOL, nope...

So yes, they know what they are doing, but they don’t
know what the end result will be.

[central_va]

China is in trouble internally as there is undercurrent that is revolt against the CCP

Our resident Free Traitor™ is turd polishing again...

PS: Ask Honk Kongers if the CCP is waning...

[central_va]

Taiwanese technology.

It is USA technology GIVEN to the Taiwanese.

[central_va]

I would like to hear about this, if/when it happens.

The Jan 6th Capitol Hill Insurgents would like to comment...

[central_va]

It already happened on Jan 6th.

[null and void]

The key word being MASS arrests, tens or hundreds of thousands at a shot.

[null and void]

Fair point.

[DoughtyOne]

Thanks. Hope you’re having a good weekend.