Consumer confidence has surprised to the DOWNSIDE the last 4 months!
By Daniel at 29 September, 2009, 9:12 pm
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3 of the stock market’s down days have been due to consumer sentiment shocks! Even the one month when sentiment was up, it was a disappointment because it was expected to be up MORE. Two of those months, sentiment reached the same level as when the stock market hit bottom in March. This is not a good sign!
Americans simply don’t believe their government is doing what’s best for them. The government is doing what’s best for politicians, Wall Street, and special interest groups. Americans understand that and don’t feel good about the direction we’re going.
I guess I too would be exuberant, as Wall Street has been, if the Fed had printed trillions of dollars, put the debt on the taxpayers, and poured those funds into my bank account, as it has for Wall Street and bankers. “This /stock market rally/ is a very visible manifestation of all the excess liquidity that monetary authorities have poured into the system… seeking return.” Stephen Roach, Chief Economist, Chairman, Morgan Stanley Asia.
Yesterday, Obama’s approval poll rating dropped BELOW 50% for the first time. The Rasmussen daily tracking poll now shows that 51% of Americans now DISapprove of Obama. Soon, he’ll become the subject of late night talk show jokes!
sbenard
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