May. Reuters/UofM Consumer Sentiment: 79.3 vs. 77.8 expected and 77.8 prior.

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Hitesh Patel Comments (313)
 
consumers are confident because they withdrew their funds from the market and now its down
25 May 2012, 09:57 AM Reply Like

Terry330 Comments (839)
 
President Obama's policies are still working.
25 May 2012, 10:07 AM Reply Like

2MuchDebt Comments (192)
 
@ Terry330: You should look at all the indicators to come up with an overall assessment of the economy. And the President doesn't deserve most of the credit given to how the economy performs, whether it is good or bad. You must be on Obama's re-election team or he has you brainwashed.
25 May 2012, 01:34 PM Reply Like

Hypnos7 Comments (141)
 
And we know how awesome things turned out after Oct. 2007.
25 May 2012, 11:28 AM Reply Like

Seeking Beta To Your Alpha Comments (445)
 
@ Hypnos 7 - LOL!
25 May 2012, 11:41 AM Reply Like

eabyrd Comments (312)
 
The ultimate contrarian sell indicator...
25 May 2012, 12:25 PM Reply Like

evan.prospect Comments (437)
 
Reasons for this in my mind:

1) Headline unemployment has dropped but people don't realize it's because of so many Americans dropping out of the labor force

2) Lower oil and natural gas prices. Little do they know that Bernanke could hit them with QEIII in June to juice the stock market and possibly employment for Obama's reelection chances (whether it will work or not remains to be seen).

3) Nothing bad has happened in awhile. We had the Deepwater Horizon issue, the Fukushima Crisis, and Thai Flooding to deal with over the last few years but it has been calm on the crisis front.

4) They have been drinking and taking too many drugs and the hangover hasn't hit yet.
25 May 2012, 05:20 PM Reply Like

eabyrd Comments (312)
 
Don't forget the warm weather! People always seem more cheery in the summer. Winter is depressing! :)

But I agree with your 4!
25 May 2012, 05:44 PM Reply Like

Ray Lopez Comments (1371)
 
Wait--wasn't October 2007, when consumers were as confident as they are now--only two months before the Great Recession began?

History repeats itself. The first time as tragedy, the second time as farce?
25 May 2012, 06:55 PM Reply Like