Topic: Consumer Confidence Hits 1980 Levels

[trapeze]

And the hits just keep coming...

The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment edged up to 57.8 from 55.7 the month before, which had been the lowest level since November 2008. It topped the median forecast of 56.5 among economists polled by Reuters.

"Overall, the data indicate that a renewed downturn in consumer spending is as likely as not in the year ahead," survey director Richard Curtin said in a statement.

"Even without a downturn, consumer spending will not be strong enough to enable the rapid job growth that is needed to offset reduced long-term expectations."

The gauge of consumer expectations dipped to 47.0 from 47.4. It was the lowest level since May 1980. The economic outlook for the next 12 months fell to 38 from 40, the lowest since February 2009 when the world economy was gripped by the credit crisis.

LINK

I guess today's Hope And Change O'BamaVoter will get to experience the Carter years for themselves. I wonder how they will react come November 2012? What do you think? Do you think they will vote differently? Hmm?

[trapeze]

NYC's Mayor Dipsh*t responds in character:

Mayor Bloomberg warned Friday there would be riots in the streets if Washington doesn't get serious about generating jobs.

"We have a lot of kids graduating college, can't find jobs," Bloomberg said on his weekly WOR radio show.

"That's what happened in Cairo. That's what happened in Madrid. You don't want those kinds of riots here."

LINK

Not content to just be shrill and alarmist, the moron continues:

Bloomberg gave Obama kudos for coming up with a jobs plan.

"At least he's got some ideas on the table, whether you like those or not," he said. "Now everybody's got to sit down and say we're actually gonna do something and you have to do something on both the revenue and the expense side."

What ideas would those be? The ones he has yet to submit to Congress? The bill that hasn't been filed? The one that he is currently using as a campaign prop? The one that raises taxes on everyone? The plan that Democrat senator Bob Casey had this to say about:

Pennsylvania’s senior Democratic official is breaking away from President Obama when it comes to his jobs bill.

U.S. Sen. Bob Casey says the president’s legislative strategy won’t work.

Oh yeah...that plan.

[Alphabet Soup]

My spending habits confound and mostly elude the intellectual elite.

I have zero confidence in the economy, in our government, or in our 'leaders'. I think that they all suck and are driving us into the ditch.

I am spending, but all preparatory for what I believe is the inevitable crash. I don't know how it'll all manifest itself but I would prefer a 'soft-landing' independent of what my betters have planned for me.

[LadyVirginia]

My spending habits confound and mostly elude the intellectual elite.

I have zero confidence in the economy, in our government, or in our 'leaders'. I think that they all suck and are driving us into the ditch.

I am spending, but all preparatory for what I believe is the inevitable crash. I don't know how it'll all manifest itself but I would prefer a 'soft-landing' independent of what my betters have planned for me.

Right there with you.