U.S. Oct. consumer confidence sinks to 92.8 vs. 96.7

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?guid={0A91C3BC-530A-41E8-939B-4FD7FACBBE3D}&siteid=mktw

WASHINGTON (CBS.MW) - The U.S. consumer confidence index fell to 92.8 in October from a revised 96.7 in September, the third decline in a row, the Conference Board said Tuesday. It's the lowest level since March. Economists surveyed by CBS MarketWatch were expecting the index to fall to 93.4.

...more...

[UL_Approved]

1. More of the same

Every time the market catches up with economic recovery propaganda and realizes that it was a scam, the stock market drops several hundred points. This trend happens every quarter, but apparently the accounting staff has been researching Bush's handiwork to see what growth, it any, that the U.S. economy has undergone in the last 4 years. The surge in oil prices is blamed for the recent and sudden downturn. This probably has some to do with it, but the real results will come out in December, at the end of Q4. I wonder how much hollow inflation will come out then.

[UpInArms]

4. Welcome to DU UL_Approved!

Glad to have you here!

:hi:

[swag]

2. Put that in your "Fair model" and smoke it, Ray

[DFWJock]

3. Have we

turned the corner yet?

[llmart]

5. This consumer's confidence.......

won't return until President John F. Kerry is safely ensconced in our White House!

[NeoConsSuck]

6. And what CBS didn't say...

but the CNN story did:

The decline is a potentially troubling sign for President Bush, seeking re-election next week.
Since the 1968 election, a Conference Board index reading below 100 generally indicates a loss for the incumbent's party.


http://money.cnn.com/2004/10/26/news/economy/confidence/index.htm?cnn=yes

Not every voter's mind is on terror, apparently.

[ChavezSpeakstheTruth]

7. This is bad for the incumbent - no doubt!

[Robert Oak]

8. it's bad for us period

There are so many leading economic indicators that spell big trouble ahead.

If Kerry gets in, he gets handed a huge multi-dimensional mess...

it's like having a house and some sort of hurricane called * and Co.
have gone through and Kerry will have to clean it up.

[ChavezSpeakstheTruth]

10. They said the same of Bush sr

[JNelson6563]

13. That's a great pic!

Those faces are priceless. Don't really need to see Kerry's face full-shot, it's reflected in the kids. Great pic for a tag line.

Cheers--

[Zorra]

9. Why is the market so high after this news? Bu$h sugar daddies out

before the election?

[DuaneBidoux]

11. For those not into markets: today is called a Dead Cat Bounce

The market is down big time in the past 4 weeks. It never goes straight down. There may also be some desperation buying by big money that wants to get the market up before Tuesday.

The consumer confidence numbers certainly could explain Shrubs weakening position in the polls. I think a lot of it is directly related to what has been happening at the gas pumps in the last several weeks. It's turning into a perfect storm.

[Zorra]

12. Thanks! n/t

[ozone_man]

15. Funny, I was going to say Dead Cat Bounce.

Yes it will turn into a Perfect Storm, just a matter of when. But I think the storm is a lot bigger than oil, though oil in the end will be key.

It is debt, both personal and national. When the deficit spending comes to an end and interest rates go up, the C+I+G = GNP is done for.

[JNelson6563]

14. The gods have gone crazy

Oil sky high, consumer confidence down, dollar weakening, in debt over our heads and the DOW and S&P are making things look honkey dorey cause some one-percenters are bargain hunting.

I guess as long as everything looks ok, it must be ok. Yeah, that's the ticket. Ugh.

(A special howdy to you UIA! :hi: )

Julie

[NeoConsSuck]

16. Buying on a dip...

thats all folks.