[bikerguy]

yeah sure confidence is high, they had to get he stock market up on something, sure didn't have anything else regaurding good news. CNBC even said the market has never ralled on reports like that before. The stock market is running scared. There also saying BS like a turnaround in the fourth quarter, heah sure.

[seldom_seen]

$this->bbcode_second_pass_quote('', '[')b]Stocks down on dip in consumer confidence

NEW YORK (AP) -- Stocks fell sharply in midday trading Tuesday after a private research group said consumer confidence unexpectedly fell in June.

http://finance.yahoo.com/news/Stocks-do ... 7.html?x=0

[Ferretlover]

I agree. It was a stunning shock to all of us! Who knew? I am sure it had nothing to do with the economists' report, mentioned on tonight's ABC News, that stated they expected, at least, one out of ten Americans to be unemployed by the end of the year. (no link-sorry)

[jbrovont]

1 in 10? Ouch. Michigan's unemployment rate is already there, and things are just withering. A Casino in Detroit went BK, along with some fun parks. I can't count the number of businesses I see closed - even gas stations. The most advertising I see lately is "We buy gold."

Most worrisome however - is driving though the neighborhoods during the day. I've started to see lots and lots of people - just...sitting. Sitting on porches, on benches, at abandoned and forclosed properties. Some walking around - looking more like they're wandering than heading someplace. I don't know if it's just me, but more and more of them have that broken look on their faces.

Going to be a long, hot summer.

$this->bbcode_second_pass_quote('Ferretlover', 'I') agree. It was a stunning shock to all of us! Who knew? I am sure it had nothing to do with the economists' report, mentioned on tonight's ABC News, that stated they expected, at least, one out of ten Americans to be unemployed by the end of the year. (no link-sorry)

[Tyler_JC]

People were overly optimistic in May, just as they were overly pessimistic in October.

We aren't going to return to business as usual any time soon and people are starting to figure it out.

We aren't used to a plateau and it's going to take a while for people to adjust.

[Novus]

I think people just woke up the fact that all that talk of "Green Shoots" was nothing but BS. Did the "green shoots" rally land anyone a job? No. Did these "green shoots" lead business to pick up? Aside from Goldman Sachs NO. The reality is people are losing jobs and businesses are going under.

[kmann]

Consumer confidence is an overhyped indicator. It has little predictive value, and only a little better as a concurrent indicator.

[Pops]

$this->bbcode_second_pass_quote('jbrovont', 'I')'ve started to see lots and lots of people - just...sitting.

[retiredguy]

Just got back from a trip to New York state. Came back through Canada and got lost in Detroit trying to find an interstate. The neighborhood we circled looked mighty scary. It was rainy, so not many people on the street. What struck me was the vacant land and vacant houses. Couldn't see the intersections because of the height of the weeds. Even the liquor stores were shuttered.

[odegaard]

$this->bbcode_second_pass_quote('retiredguy', 'T')he neighborhood we circled looked mighty scary. It was rainy, so not many people on the street. What struck me was the vacant land and vacant houses. Couldn't see the intersections because of the height of the weeds. Even the liquor stores were shuttered.

[Tyler_JC]

That image is beautiful, where is it from?

[odegaard]

$this->bbcode_second_pass_quote('Tyler_JC', 'T')hat image is beautiful, where is it from?

[Sixstrings]

The Millionaire Consumer Confidence index has plunged as well:
http://www.reuters.com/article/hotStocksNews/idUSTRE5605N720090701

[deMolay]

"Fool Me Once Shame On You Fool Me Twice Shame On Me"
Good insight into effect of consumers on recovery. But I noticed he failed to mention the fact that the largest demographic in history. The "Baby Boomers" the Greatest Generation (Hah Hah Hah) Will be in survival mode the rest of their lives, and saving like crazy squirrels. Until the Baby Boomers start buying again. No recovery is possible. http://www.financialsense.com/Market/wrapup.htm

[mcgowanjm]

http://market-ticker.denninger.net/uploads/Z12009-09/PonziFinance.png

This chart combines PO US with Nixon/Friedman Gold/$ peg
drop along with the now acknowledged FedRes Gold Swap
(See ABX abandons Gold Hedges/Fekete).

And according to the above, Q3 2000 was our last chance to
get it right before hitting the World PO in 2000/2001.

The SCOTUS (s)elected bush43 instead and we've been in
Bizarro World ever since.

[Maddog78]

A classic.

http://www.youtube.com/watch?v=eKgPY1adc0A

[PrestonSturges]

$this->bbcode_second_pass_quote('Maddog78', 'A') classic.

http://www.youtube.com/watch?v=eKgPY1adc0A