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Aug. Reuters/UofM Consumer Sentiment: 54.9 preliminary - lowest since May 1980! - vs. 62.5...

Aug. Reuters/UofM Consumer Sentiment: 54.9 preliminary - lowest since May 1980! - vs. 62.5 expected and 63.7 in July. Expectations 56 vs. 64.8 in July. Current conditions 75.8 vs. 76.3 in July.
Comments (18)
  • Josh ODonnell
    , contributor
    Comments (229) | Send Message
     
    Horrible number... The largest economy in Europe-France came out with Q2 GDP of 0%..which means that the real number is negative..same with the U.S.

     

    Retail sales up .05%..also a horrible number, but better then expected.
    Will see what happens. I see another form of QE3 right around the corner.. Geithner should have quit a long time ago..
    12 Aug 2011, 10:00 AM Reply Like
  • Tatertot
    , contributor
    Comments (144) | Send Message
     
    GDP is already given in real terms. There's no need to subtract inflation again to redetermine growth rates.
    12 Aug 2011, 10:30 AM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    However, it is negative relative to population growth, even in Europe.
    12 Aug 2011, 11:22 AM Reply Like
  • Papaswamp
    , contributor
    Comments (2198) | Send Message
     
    This will be ignored because it wasn't considered positive.
    12 Aug 2011, 10:03 AM Reply Like
  • Stoploss
    , contributor
    Comments (1727) | Send Message
     
    NEGATIVE GDP US.
    12 Aug 2011, 10:09 AM Reply Like
  • Josh ODonnell
    , contributor
    Comments (229) | Send Message
     
    Gold sold off from 1800 now trading at 1738..guess thats gotta be some profit taking....it will go back up again, and again, and again till it hits $5000 1-2 years from now
    12 Aug 2011, 10:12 AM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    Don't be so sure. The parabolic rise that began August 2nd guaranteed a correction. That trajectory will not be sustainable, but the long-term, linear rise certainly will be. Gold should be in the range of $1600 - $1650 right now.
    12 Aug 2011, 11:25 AM Reply Like
  • bukdow
    , contributor
    Comments (855) | Send Message
     
    Consumer confidence is down because they are listening to the doomsday, yack-box media.

     

    Yesterday, I was listening to Marketplace and the host Kai Rizdall (sp?) was talking with the fellow who invented the VIX. To his credit, Kai pretty much presented the guest with the notion that the VIX is just an indicator for bed-wetters to wet their bed more. Its a viscous self-feeding cycle of fear promoting more fear rather than rational thought. Of course, the VIX inventor didn't see it that way. But, frankly, thats exactly what the VIX is, a fear metric fed by fear to produce more fear.
    12 Aug 2011, 10:19 AM Reply Like
  • OptionManiac
    , contributor
    Comments (3337) | Send Message
     
    Agreed. Who can feel confident when "doomsday is coming!!" is heard from all channels, and a lot of people just sit and listen all day. Well, the end of the world has been forecasted many times.
    12 Aug 2011, 10:32 AM Reply Like
  • Josh ODonnell
    , contributor
    Comments (229) | Send Message
     
    With 15 trillion in debt and 112 trillion in unfunded liabilities...the world is ending..
    12 Aug 2011, 11:27 AM Reply Like
  • mitrado
    , contributor
    Comments (1973) | Send Message
     
    "With 15 trillion in debt and 112 trillion in unfunded liabilities...the world is ending..."

     

    News Flash: Savage Capitalism is not the "The World".
    12 Aug 2011, 12:50 PM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    Are you implying that the trillions of dollars in unfunded entitlement liabilities are the result of "savage capitalism"?
    12 Aug 2011, 01:00 PM Reply Like
  • tiger8896
    , contributor
    Comments (621) | Send Message
     
    I usually don't pay attention to the UofM number because it is not the best indicator of consumer spending but this caught my eye, lowest since 1980 including readings during 2008-2009, wonder what that says?
    12 Aug 2011, 01:01 PM Reply Like
  • sean.parmelee
    , contributor
    Comments (790) | Send Message
     
    Consumer spending is at an inflection point, as of June:

     

    research.stlouisfed.or...

     

    Notice that the last time this happened, we were entering recession. I think the July numbers, which come out at the beginning of September, will be extremely important.
    12 Aug 2011, 01:06 PM Reply Like
  • OptionManiac
    , contributor
    Comments (3337) | Send Message
     
    DOW 1980 - 824
    DOW 1985 - 1546
    12 Aug 2011, 01:09 PM Reply Like
  • Landbuyer
    , contributor
    Comments (16) | Send Message
     
    i heard the sky is falling......RUN
    12 Aug 2011, 02:31 PM Reply Like
  • MikeX
    , contributor
    Comments (40) | Send Message
     
    The downturn in social mood was expected and is the basis for the expectations of the next great depression that comes with negative mood around the globe.

     

    www.tradingstocks.net/...

     

    The expected effects are not just economical but also political, social that will bring unrest, riots and possibly war after the depression.
    12 Aug 2011, 03:15 PM Reply Like
  • OptionManiac
    , contributor
    Comments (3337) | Send Message
     
    Lovely.
    12 Aug 2011, 05:52 PM Reply Like
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