Unexpected Drop in Consumer Confidence in March...cough, cough....

[DemocracyInaction]

Bloomberg News today reports that the U of Michigan (the one always cited by financial anaysts)survey found an "unexpected" drop in consumer confidence in March. No shit Sherlock!!! And that brings a real BIG question to my mind:

If you follow these financial news networks and read the various financial sections of newspapers, news magazines, etc., all you see are the financial 'boys' all pumped up about how our "economy is growing" and prosperity just around the corner, blah, blah. But then you read the take-overs and their resulting lay-offs; the price of gas which is now cutting into all sectors of the society; GM perhaps becoming the next 'airline industry' because they are looking for them to declare bankruptcy and break all their union contracts and stick it to their retirees, etc. and that will lead to all UAW contracts eventually going up in smoke, etc.

There is a total disconnect between these investment, Wall Street, rich boy assholes and Main Street America. Things are not coming up roses but coming up 'shit' out here..........and then they use the term "unexpected" to describe the downturn in confidence!!! About time these out of the reality loop scum factored in the 'consumer' (you know that entity on which two-thirds of this economy depends)!!!

[whistle]

1. Exactly which consumers have been confident about the U.S.

...economy during the past four years?

[The_Casual_Observer]

2. Try pinning down an economist about the economy some time

You will find out that the measures that are used to rate the economy have no practical meaning in terms of hard facts like employment. With globalization, the old models don't even apply anymore.

[Tux]

4. With globalization

The only model that works is the draining of a nation's resources then move on to another one. Vampires are real.

[cornermouse]

3. People who fear for their jobs and who are being

strangled by high gas prices are not likely to run out and spend money on anything that they don't have to.

[stopbush]

5. I'm convinced the Wall Street happy talk is aimed at the average 401k

employee who has seen his portfolio deflate and is worried about his future. The happy talk encourages them to stay in and ride out the storm. In reality, they're suckering them in so they can get every last dime of Joe's portfolio into their WS pockets. Think Enron collapse.