Confidence hits a 5-year high

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MARIS61

MARIS61

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By Don Lee / Tribune Washington Bureau
Published: October 13. 2012 4:00AM PST

WASHINGTON — Despite dark clouds in the global and U.S. economies, American consumers are feeling more upbeat than they have at any time since the fall of 2007.

That is according to an unexpectedly strong reading of consumer sentiment from the University of Michigan and Thomson Reuters, released Friday. The report suggests that the holiday shopping season could turn out stronger than forecast.

The widely followed index jumped to 83.1 in October — nearly a five-point gain from the previous month and the highest since September 2007.

Measures of both components of the index — people’s assessment of their current financial conditions and future expectations — went up over the month. Sentiment improved for families making more than $75,000, as well as those making less.

Most analysts had forecast a slight drop in consumer confidence this month, given persistent sluggish growth at home and increasing worries about a global slowdown. Hiring continues to be slow, gas prices remain high, and businesses and many others are concerned about looming tax increases and fiscal spending cuts set to take effect in January.

But consumers seem to be wearing these troubles like a light sweater. The Michigan survey is the third economic report in a week to show a post-recession best.
 
Oct 31 and the event of Halloween is one of the three highest retail seasons.

move along
 
DaLincolnJones said:
Oct 31 and the event of Halloween is one of the three highest retail seasons.

move along
Click to expand...

that makes no sense. Haven't there been a few Oct 31sts/Halloweens in the past 5 years? And this is testing now not 2-3 weeks from now, so Oct 31st has zippo to do with it

the United States has a consumer driven economy. Are you rooting against good news for Americans?

STOMP
 
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STOMP said:
that makes no sense. Haven't there been a few Oct 31sts/Halloweens in the past 5 years? And this is testing now not 2-3 weeks from now, so Oct 31st has zippo to do with it

the United States has a consumer driven economy. Are you rooting against good news for Americans?

STOMP
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fuck no,

just stated a fact.

I have read some of the same that say" dispite the lack of confidence, consumers are spending this season at a multi year high."

its all spin

do you not find it odd, that the same month that they close 8 albertson supermarkets in the NW alone, and half a dozzen of their value chain stores, that things are so rosy? just some four weeks before the election? spin, baby spin
 
confidence is high b/c that bum Obama is on the way OUT! :MARIS61:
 
chris_in_pdx said:
Welcome to the right-wing strategy for the last 4 years.
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This.

Sour grapes that the populace is not buying into their anti-American crybaby attitude. Right-wingers are nothing but a lazy bunch of whiny quitters, without the stones to face a little bit of their self-created adversity.

Real Americans have a can-do/will-do approach to life. They built America that way and will defend America that way.
 
PayPal plans first job cuts since 2008 financial crisis
Why Bank Of America's 16,000 Job Cuts Are Necessary - Forbes
Current Employment Statistics Highlights September 2012
Daily Job Cuts - Layoff News , Job Layoffs 2012 / 2011 , Bankruptcy ...


I dont make these up..read more than what is spoon fed by barry and his henchmen
 
DaLincolnJones said:
PayPal plans first job cuts since 2008 financial crisis
Why Bank Of America's 16,000 Job Cuts Are Necessary - Forbes
Current Employment Statistics Highlights September 2012
Daily Job Cuts - Layoff News , Job Layoffs 2012 / 2011 , Bankruptcy ...


I dont make these up..read more than what is spoon fed by barry and his henchmen
Click to expand...

This is very good news in the long run.

Huge corporations are the tools used to rape the middle class. It would be swell to hear about some Halliburton layoffs as well.

Meanwhile, to the horror of the 1%ers, small businesses are starting back up all over the place.
 
It bumped up right after the October 3rd debate. Coincidence?
 
Confidence is up because the doofus in the WH was finally exposed as being incompetent.

Time to let an adult who doesn't need to go on variety shows for validation lead this country.
 
 
Dont get me wrong...great time to pump and dump real estate again.

{Poasted via palm pilot}
 
EL PRESIDENTE said:
Reality is near zero interest rates and the fed buying 40billion per month in toxic mortgages?

{Poasted via palm pilot}
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You propose letting the entire lending industry go bankrupt? I used to think that was a good idea, and maybe I still do. The fact that it was Bush's plan originally doesn't inspire confidence. I supported the idea because there was supposed to be an overhaul and restoration of regulatory oversight, with the criminals being sent to jail. Congress has prevented any of that from occurring though, making the bailout just another gift to the 1%ers.

By reality, I was referring to home values.
 
I think it's shameful how the cons root for the US as a whole to fail just so they can get their guy in. Polls are not in their favor, they must be skewed.
Unemployment goes down to 7.8, the books must be cooked. Funny how when the numbers are in their favor the polls matter.
Funny how when unemployment is higher the numbers count. But when the numbers show that the economy is doing better, the numbers must be wrong...
 
MARIS61 said:
You propose letting the entire lending industry go bankrupt? I used to think that was a good idea, and maybe I still do. The fact that it was Bush's plan originally doesn't inspire confidence. I supported the idea because there was supposed to be an overhaul and restoration of regulatory oversight, with the criminals being sent to jail. Congress has prevented any of that from occurring though, making the bailout just another gift to the 1%ers.

By reality, I was referring to home values.
Click to expand...

and you don't think QE3 and these historically low interest rates aren't another gift to the 1%?

And these "great home values" are just a reflection of the artificial external stimulation by the FED and the unsustainable low interest rates.

All the confidence in this country is just another bubble inflating, this time its way worse than the last one. Just borrowing and printing money.
 
The interest rates are where they should be. Nobody should ever be able to charge double-digits just for loaning money. Those people are called loan-sharks.

I didn't say great home values. I said realistic. On a historic graph chart they are quite a bit little lower than they should be, but will self-correct over the coming years no matter what else happens. Oregon has averaged about a 6% to 6 and 1/2 % increase per year for homes over the last 80 years or so.
 
EL PRESIDENTE said:
and you don't think QE3 and these historically low interest rates aren't another gift to the 1%?

And these "great home values" are just a reflection of the artificial external stimulation by the FED and the unsustainable low interest rates.

All the confidence in this country is just another bubble inflating, this time its way worse than the last one. Just borrowing and printing money.
Click to expand...

This.
 
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