October 28, 2008

FLASH: Consumer Confidence Drops to 41-Year Low

Thank you realtors. Thank you mortgage brokers. Thank you Congress. Thank you bankers.

You wrecked the world.

And to think, it's only gonna get worse.


WASHINGTON (AP) -- A private research group says consumer confidence in the U.S. economy plunged in October to its lowest in 41 years, as stock markets dropped sharply and companies began laying off workers.

The Conference Board reported Tuesday that the consumer confidence index fell to 38, down from a revised 61.4 in September and significantly below analysts' expectations of 52.

That's the lowest level for the index since the Conference Board began tracking consumer sentiment in 1967, and the third-steepest drop.

25 comments:

Anonymous said...

BOHICA!

Anonymous said...

You forgot to Thank the worst team ever:

George Bushco and Dick Cheneyurton

Worst Ever. Period.

Mission Accomplished!

Anonymous said...

What are you talking about? I thought the sun was shining on the horizon.

Dude are you schizophrenic or something?

Where's that spot on that sine wave graph you always show, you know the spot for BOREDOM?

We must be in that phase 'cuz no one cares about the latest Case-Shiller housing crash dismal numbers, 16% drop in home prices YOY.

You included.

the-numbers said...

Keep in mind that those instances of steeper drops in confidence came at a time when confidence was only measured every 2 months. Combine this with last month or next month for a comparison. I suspect his is really the fastest drop in consumer confidence in the 41 years of this survey. Could it be the worst drop since the great depression?

6% Ruined the World said...

BOHICA!

Bend
Over
Here
It
Comes
Again!

Yikes!!!!

Mark in Philly said...

Just wait to see how low it gets after 4 years of Obama's "trickle up poverty"

Anonymous said...

Onlt to get WORSE.

DIE U PIGS

(taking double ZolofT this morning. See ya on the Freeway)

Anonymous said...

More to come folks! Things CAN and DO go to ZERO!!!

Anonymous said...

"Just wait to see how low it gets after 4 years of Obama's "trickle up poverty""

Be more concerned about the Federal Reserve destroying the $US before Obama has even 100 days in office.

bottom feeder said...

Keith,

We'll know we hit the economic depression bottom when mothers start prostituting their preteen daughters for a loaf of bread.

That's the U.S. equities buy signal.

Anonymous said...

Also, Thanks to all the christain wacko church republican criminal leaders who preached to their sheeple that Bush was the "new Jesus" when in fact, he (IS) the true axis of evil. You will soon feel his massive doom of destruction - if you havent by now.

They just wouldnt listen to the warnings we gave them. Bush is a LIAR, CRIMINAL and THUG. McCain is connected to the same criminal regime.

But hey, I guess it doesnt matter now. How about those freedom fries Dick.

Anonymous said...

Another reason why. Doomed and disgraced/Fear and Loathing:

Feds arrest Mass. senator on corruption charges
By GLEN JOHNSON and DENISE LAVOIE Associated Press Writers
Article Launched: 10/28/2008 10:06:31 AM PDT


BOSTON—A state senator who lost the Democratic primary last month was arrested by the FBI on Tuesday and charged with accepting $23,500 in bribes from undercover agents she believed were local businessmen.
Sen. Dianne Wilkerson was charged with attempted extortion as a public official and theft of honest services as a state senator. She faces up to 20 years in prison and $250,000 in fines on each count.

Wilkerson, 53, lost the Democratic primary in September to Sonia Chang-Diaz despite support from Mayor Thomas Menino and Gov. Deval Patrick. She is running a write-in campaign for the Nov. 4 election, in hopes of retaining the seat she has held since 1993.

Place in chains and make her do a televised perpwalk dressed in orange jumpsuit. Disgraced.

Career Over. Done. Poof.

Bye Bye. BOHICA!

Anonymous said...

"Thank you realtors. Thank you mortgage brokers. Thank you Congress. Thank you bankers.

You wrecked the world."
====================================

HUH I thought it was all Bush's fault.

Anonymous said...

Booze and Crack runs out:

Tues 12:30 PST: Market Rally, Dow UP OVER 500 POINTS! TIME TO BUY A HOUSE!

PPT springs into action... Like their boss, about 7.7 years too late...

Stand By for Suckers Rally Wednesday. Meghan will still have her Fox News job for another day denial all the porn aficianados out there...

MARKET IS RIGGED, CORRUPT AND DISHONEST LIKE THE ENTIRE U.S.A.

k.w. - Southern Ca. said...

There's alot of finger pointing going around, but it's important to remember the house debters who also helped drive the housing market and economy (ultimately) into the ground - and I'm not talking about just subprime borrowers.

The Alt-A, Option-ARM and Prime borrowers are who I'm referring to - I know of more than one who fell hook-like-and-sinker for the housing ponzi scheme.

Many hoped to get in a house back in 2006 (at the height of the market), only to "switch-out" to a bigger and more costly McMansion.

Now these over educated "smarties" are also stuck like pigs, with an apple up both ends.

Greed feels good going down, but often leads to severe constipation on the backend.

Anonymous said...

Yeah ... right crybabies...

Stocks up 900 points today.

Dolts!!!

Anonymous said...

MARKET IS RIGGED, CORRUPT AND DISHONEST LIKE THE ENTIRE U.S.A.

PPT back on the Job!

Dow up almost a grand!

Gee, I guess I missed the opportunity of a century!

DOPES, CROOKS & LIARS!

BOHICA!

Anonymous said...

The Stock market suckers will be harvested again tomw. Whatever the Fed Res does tomw it won't be good enough or it will be interpreted as a indicator of future dire problems. Translation = Short Sellers will make a ton of money tomw. And they will be bolstered by the CNBC talking heads who are pumping up the market. I have come to the realisation that those 20 years my junior are doing exactly what I did BEFORE Black Monday 1987.

The realtors are still pumping here in Orlando. Good news is some of the Old Line Realtors' store fronts are up for lease. Good Byeeeee.

Anonymous said...

dow up 900...

k.w. - Southern Ca. said...

As is now so evident, the stock market is nothing more then a series of rallies, up-and-down like a merry-go-round.

Eventually, it has no choice to be pulled further downward to reality - to be inline with our current economic conditions.

John S said...

"Stocks up 900 points today..."
It'll give it all back soon enough.

As for predictions here of unfolding disaster with the next president: We've got a choice between Jimmy Carter II or Richard Nixon II. At least with an Obama victory we'll be down to just one party to blame.

Dump all the Republican incumbents in 2008. Dump the Democratic House in 2008. Clean out the Senate in 2012. 50 million angry, hungry unemployed will see to it.

Anonymous said...

...and thank you, liberal media! Your agenda of world socialization has reached plenty of non-thinking, feeling people. Witness HP.

You have them so scared, they would rather hand it all over to Big Brother instead of sometimes you win, sometimes you lose.

No wonder people are getting fatter, dumber, softer, and lazier. Instead of letting them die off, some people are actually guilted into trying to help them! Pathetic.

Anonymous said...

Consumer confidence falls to 41-year low? What chicken littles. Just because folks are losing their jobs like tourists getting STD's in Tijuana on the weekend, it's no reason to worry...

Anonymous said...

"Yeah ... right crybabies...

Stocks up 900 points today.

Dolts!!!"

Yeah DipWad, this time last year the Dow was between 13K and 14K. Only 5K points to go!

Somebody needs to teach you what numbers mean.

Lost Cause said...

The father left us Somalia. The son brought it home.