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More on Consumer Sentiment: The 74.5 read wasn't just sharply below the 83 consensus, it was 5...

More on Consumer Sentiment: The 74.5 read wasn't just sharply below the 83 consensus, it was 5 points underneath the lowest estimate out there. It was led by a 13 point plunge in expectations to 64.6. Double-digit declines are very rare, say the report authors, and point to a "sudden pessimism" as the final surge of the holiday shopping season approaches. The XLY, XRT, and XLP can't be bothered, all with moderate gains today.
Comments (7)
  • I think people are learning what the fiscal cliff means to them...its not all the 2%ers like the press is saying....its everybody....those Bush tax cuts that the Democrats said only helped the RICH.....really helped everyone...
    7 Dec 2012, 10:30 AM Reply Like
  • Is this an apology for 8 God awful years of W?
    I am a 98%er, and everybody I knew, workers, SE, and investors, lost equity during the W lost years. I had one client whose portfolio was Apprx $300K, and In 01/09 she has $150K left. Fortunately for me, I saw the impending disaster from as early a 2005, and was able to cash some of my securities.

     

    Please stop reminding us of the W, and that wreck he left behind. By the way if he did such good job, why did you trot him out during the campaign.
    7 Dec 2012, 01:25 PM Reply Like
  • Wasn't this survey after the election results were public? If so, it appears the public may not be as happy with the outcome as anticipated. When you combine this apparent disappointment with the election with the fiscal cliff.......
    7 Dec 2012, 10:32 AM Reply Like
  • All polls blame Republicans in Congress for fiscal cliff. More will be voted out in 2014.
    7 Dec 2012, 10:44 AM Reply Like
  • Yep, we can pretty much look forward to living in a country managed like most of our households -- bankrupt and scraping by on vast debt, almost no money in the bank, crisis after crisis, and nothing left for substantive improvements or emergencies or nice things that will last.

     

    And since there is only one America and nowhere any alternative approach to government will be tried, most will never have the slightest clue that things don't have to be so awful.

     

    But at least we will suffer equally. Except of course for those in the Party, who will enjoy solid benefits, guaranteed jobs, and privileged access. And those at the "top" of government who will live like royalty while scorning the citizenry.
    7 Dec 2012, 11:02 AM Reply Like
  • Repubs should hold their ground, go over the fiscal cliff, and refuse to raise the debt ceiling without draconian cuts to government spending, but they won't......

     

    We'll get a deal. No spending cuts of any significance. No tax increases of any significance. Raise the debt ceiling through the 2014 elections.

     

    $25 trillion in debt, here we come.
    7 Dec 2012, 11:20 AM Reply Like
  • Repubs should hold their ground.....or they could just admit the party is no longer viable.
    7 Dec 2012, 07:18 PM Reply Like
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