Categories





Silver Exchange





Consumer Confidence Crashes To 2011 Levels After Biggest Plunge Since August 2011 Debt Ceiling Debacle

from Zero Hedge:

It would appear that the hike in taxes on 77% of Americans that was heralded as a success, has dented confidence just a little. As the efficient stock market moves to all-time nominal highs in many cases, Consumer Confidence just fell off a cliff. The conference board printed at the worst level in 13 months – so all those 2012 gains are gone – and fell month-over-month by the most since the August 2011 fiscal cliff debacle. For every income levels (except those earning under $15k) confidence plunged with the $35k-$50k bracket crashing the most. It would appear that the driver of 70% of the US economy is not buying the new normal being fed to us daily by any and every media outlet possible. No matter how much the market is held up by mysterious runs in FX markets or volatility compression, it would appear that – just as we have been noting – the underlying macro fundamentals will eventually be priced in, as this does not bode well for retail sales.

Read More @ Zero Hedge.com

1 comment to Consumer Confidence Crashes To 2011 Levels After Biggest Plunge Since August 2011 Debt Ceiling Debacle

  • Ed_B

    “It would appear that the driver of 70% of the US economy is not buying the new normal being fed to us daily by any and every media outlet possible.”

    Yeah? Well, that’s the way it is, boys and girls. Obvious BS cannot be covered up by soft smarmy words, air-brushed make-up, and blow-dried hair because TRUTH WILL OUT, as they say.

Leave a Reply

  

  

  


3 × = twenty one

You can use these HTML tags

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>