By Don Lee / Tribune Washington Bureau Published: October 13. 2012 4:00AM PST WASHINGTON — Despite dark clouds in the global and U.S. economies, American consumers are feeling more upbeat than they have at any time since the fall of 2007. That is according to an unexpectedly strong reading of consumer sentiment from the University of Michigan and Thomson Reuters, released Friday. The report suggests that the holiday shopping season could turn out stronger than forecast. The widely followed index jumped to 83.1 in October — nearly a five-point gain from the previous month and the highest since September 2007. Measures of both components of the index — people’s assessment of their current financial conditions and future expectations — went up over the month. Sentiment improved for families making more than $75,000, as well as those making less. Most analysts had forecast a slight drop in consumer confidence this month, given persistent sluggish growth at home and increasing worries about a global slowdown. Hiring continues to be slow, gas prices remain high, and businesses and many others are concerned about looming tax increases and fiscal spending cuts set to take effect in January. But consumers seem to be wearing these troubles like a light sweater. The Michigan survey is the third economic report in a week to show a post-recession best.
that makes no sense. Haven't there been a few Oct 31sts/Halloweens in the past 5 years? And this is testing now not 2-3 weeks from now, so Oct 31st has zippo to do with it the United States has a consumer driven economy. Are you rooting against good news for Americans? STOMP
fuck no, just stated a fact. I have read some of the same that say" dispite the lack of confidence, consumers are spending this season at a multi year high." its all spin do you not find it odd, that the same month that they close 8 albertson supermarkets in the NW alone, and half a dozzen of their value chain stores, that things are so rosy? just some four weeks before the election? spin, baby spin
This. Sour grapes that the populace is not buying into their anti-American crybaby attitude. Right-wingers are nothing but a lazy bunch of whiny quitters, without the stones to face a little bit of their self-created adversity. Real Americans have a can-do/will-do approach to life. They built America that way and will defend America that way.
PayPal plans first job cuts since 2008 financial crisis Why Bank Of America's 16,000 Job Cuts Are Necessary - Forbes Current Employment Statistics Highlights September 2012 Daily Job Cuts - Layoff News , Job Layoffs 2012 / 2011 , Bankruptcy ... I dont make these up..read more than what is spoon fed by barry and his henchmen
This is very good news in the long run. Huge corporations are the tools used to rape the middle class. It would be swell to hear about some Halliburton layoffs as well. Meanwhile, to the horror of the 1%ers, small businesses are starting back up all over the place.
Confidence is up because the doofus in the WH was finally exposed as being incompetent. Time to let an adult who doesn't need to go on variety shows for validation lead this country.
http://www.huffingtonpost.com/2012/09/13/mitt-ann-romney-live-kelly-michael_n_1881139.html http://popwatch.ew.com/2012/09/26/ann-romney-tonight-show-jay-leno-mitt/
More good news about the housing recovery. http://news.investors.com/business/...rst-guidance-in-years-as-housing-recovers.htm http://lansner.ocregister.com/2012/08/09/analyst-housing-recovery-not-a-fake/165383/ http://www.thestreet.com/story/1168...ing-recovery-will-fuel-more-pickup-sales.html http://money.cnn.com/2012/10/02/news/economy/housing-recovery-economists/index.html http://www.thestreet.com/story/11733922/1/this-housing-recovery-is-real.html http://finance.yahoo.com/news/housing-recovery-real-103000048.html
Reality is near zero interest rates and the fed buying 40billion per month in toxic mortgages? {Poasted via palm pilot}
You propose letting the entire lending industry go bankrupt? I used to think that was a good idea, and maybe I still do. The fact that it was Bush's plan originally doesn't inspire confidence. I supported the idea because there was supposed to be an overhaul and restoration of regulatory oversight, with the criminals being sent to jail. Congress has prevented any of that from occurring though, making the bailout just another gift to the 1%ers. By reality, I was referring to home values.
I think it's shameful how the cons root for the US as a whole to fail just so they can get their guy in. Polls are not in their favor, they must be skewed. Unemployment goes down to 7.8, the books must be cooked. Funny how when the numbers are in their favor the polls matter. Funny how when unemployment is higher the numbers count. But when the numbers show that the economy is doing better, the numbers must be wrong...
