Consumer Sentiment Rises, Equal To Sept. 08
This has always been a crisis of confidence;
WASHINGTON (MarketWatch) — U.S. consumer sentiment rose in early May, and came close to matching analysts’ expectations, according to a survey released Friday by the University of Michigan and Reuters.
The consumer sentiment index rose to 67.9, the highest reading since September, from 65.1 in April. Economists polled by MarketWatch had expected a May result of 68. The index hit a 28-year low of 55.3 in November.
Recent readings of consumer sentiment have been on the rise due, in part, to optimism over the White House’s policies, a rallying stock market and a possible bottom for the recession.
This means one of two things;
A.) It is a media conspiracy, nothing but lies, lies, and more lies.
B.) President George W. Bush stopped the “economic bleeding” last fall/winter and the wound is healing.
IRA and 401k statements looked pretty dismal for the year ending December 31, 2008. In July, when people start getting their six month statements I believe there will be a huge sigh of relief. Confidence will beget more confidence.
The world is not collapsing and things are getting better, now is the time to start putting in place plans and policies to keep the economy growing. A simple step moving forward could include making permanent the existing capital gains tax rates so investors could plan accordingly.
Subscribe to blog feed.
May 15th, 2009 at 8:06 am
Of course its all bull, I mean if they start printing out “consumer not spending a cent these days, compared to 2007″ I don’t think it’ll fly hahaha
May 15th, 2009 at 8:25 am
rah! rah! shish boom ba!
May 15th, 2009 at 10:32 am
And,
There is no “recovery” taking place.
May 15th, 2009 at 11:28 am
Herman Miller announced today they are shutting down a plant in Spring Lake, Michigan. 300 more unemployed.
But Oak’s cheering continues.
[I went entirely from 80% cash to 100% equities in early March. If you think the economy is going to shit, fine buy gold or hell go buy ammo like some of the fools. I have already gone on record how I voted with my money. The report card date is 12/31/09, 09/30/10 and 09/30/12. OL]
May 15th, 2009 at 12:00 pm
Anyone “voting with their money” is actively helping the resident marxist in the white house.
May 15th, 2009 at 12:41 pm
Actually, while I don’t concur with Oak that happy days are here again-
I do think there are some buying opportunities out there. There is a chance we have hit bottom, although I don’t see a boom cycle, we could well start meandering our way out of this mess- at least over the next few quarters.
Stumbling blocks I see are:
1. the Housing market-prices are down, but they are still being artificially propped up by all these bailouts to a certain degree. Until the Market is able to correct itself, this will fester, causing stagnation.
2. Job Growth-there isn’t any. Layoffs mean less money flowing into the economy.
3. Fuel Prices- They are rising again. Nobody bothered to pay attention when the Obama Administration cancelled out all the drilling leases and permissions the Dems and Bush agreed to with such fanfare last year. This will be harder to absorb than it was the last couple times they spiked, with the credit crunch, job losses, etc.
4. Credit Crunch- Banks aren’t lending. Not sure if it is the fluctuations in the credit markets, abject fear after what happened last year, concern over things to come, or combination thereof. Government playing an activist role in control of the banks will not end well, that much can be assured.
5. Inflation- Besides fuel costs, Ridiculous out of control and over the top deficits, , there is also this-When Government is printing money to buy their own bonds, it can’t be good.
6. Cap & Trade, or whatever form the Ecofreaks’ power grab takes- This will wipe out a lot of jobs and cost a lot of money. I maybe should consider buying land in Mexico for when we are all trying to go there.
7. Health Care Nationalization- This will be disasterous as well, but over a longer period of time.
May 15th, 2009 at 12:42 pm
Pelosi needs to name names and tell use WHO lied to her in the CIA not just generically accuse the CIA. I don’t trust the CIA at all, but someone had to lie to her not just the letters C, I and A lying to her.
May 15th, 2009 at 1:13 pm
THERE ONCE WAS A SITE CALLED POLI,
IT WAS A PLACE QUITE JOLLY,
BUT THE SHARK HAS BEEN JUMPED,
THE DOG HAS BEEN HUMPED,
IT IS NOW A POSTERS FOLLY.
May 15th, 2009 at 6:27 pm
Dead people got their stimuous checks:
http://www.myfoxny.com/dpp/your_money/consumer/090514_Dead_People_Get_Stimulus_Checks
Actually Obama’s “tax cut” part of the stimulus was really a tax increase for quite a few Americans. Bush gave people more dollars via tax rebates. So just from that alone my family will be paying roughly $700 more in taxes plus another $1,000 more in taxes since the younger daughter turns 17 this year. So that’s a $1,700 tax increase for my family this year and we make less than Obama’s often quoted $250,000.
May 16th, 2009 at 6:44 am
And, retail sales just dropped for the second straight month.
There is no recovery. These posts are delusional.
May 16th, 2009 at 10:13 am
These two people seem to have a far different outlook:
http://lewrockwell.com/orig10/celente6.html
http://www.lewrockwell.com/bonner/bonner382.html