Ouch, Lowest in 26 Years!

[JustMissed]

Ouch, this may sting like a bitch.

snipped from Reuters 4/11/2008:

[Quote]
By Burton Frierson

NEW YORK (Reuters) - U.S. consumer confidence fell to its lowest in more than a quarter century in early April, diving deeper into recessionary territory on heightened worries over inflation and jobs, a survey showed on Friday.

The Reuters/University of Michigan Surveys of Consumers said its preliminary index of confidence fell to 63.2 in April from 69.5 in March, well below economists' median expectation of a slight fall to 69.0, according to a Reuters poll.

The April result is the lowest since March 1982's level of 62.0, when the "stagflationary" period of low growth and high inflation was still fresh in the memory of many Americans.

Near-term inflation expectations measured by the survey jumped to the highest since the turmoil following Iraq's invasion of Kuwait in late 1990, which caused oil prices to rise sharply.

"It's really bad," Carl Lantz, interest rate strategist at Credit Suisse in New York, said about the report.

"It confirms what we already know now that we are in a consumer-led recession, and it's going to be a pretty protracted one."snipped[EndQuote].

I sure hope these guys are wrong. It's a long time til November.

JM

[Tom]

Like Barry O or Hillary won't destroy the economy!

[JustRalph]

why wouldn't consumer confidence stay low........... every ten minutes they see a news story about the economy going to hell............

[ddog]

it's mostly a shell game.
Neither Bush or the "three dwarfs" coming up have much to do with it.

I expect the NEXT president to go down as one of the worst in the history of the country.
Any of them with an ounce of sense would withdraw now.

Bush seems to enjoy it, let him stay.

I fear lots of "cakes are baked" and they will be digested one way or the other.

[ddog]

why wouldn't consumer confidence stay low........... every ten minutes they see a news story about the economy going to hell............


if I tell you everything is fine and all around you see it's not then what would you say?

What does the press have to do with the mtg b.s. - companies missing earnings , fraud and criminal conduct that is and did cost companies and people tons of cash in the whole fin sector?

If your paycheck isn't grwoing but your costs are , then you would have a right to feel nervous?

Are you now agreeing with me that the avg person in the U.S. is not to be trusted in their opinions as those are based on made-up stories and 2nd or 3rd hand b.s. from talking heads that are just EMPTY talking heads for the most part?

Sure sounds like it to me.