Consumer confidence falls to 16-year low.
By on Jun 24th, 2008 at 1:10 pm
Consumer confidence falls to 16-year low.
U.S. consumer confidence this month “to its lowest in 16 years as high inflation continued to sap confidence and pushed expectations for the future to a record low.” The index measured consumers’ moods at 50.4 in June, lower than Wall Street economists’ expectations and less than half of what it was last July. (HT: Atrios)
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Yeah but all the rich folks are gettin' richer. They are buying lots of useless crap.
June 24th, 2008 at 1:12 pmCongrats, BushitCo! Mission Accomplished!
June 24th, 2008 at 1:13 pm3rd world, here we come!
The index measured consumers’ moods at 50.4 in June
- - I prefer to categorize my mood as indigo.
June 24th, 2008 at 1:15 pmrogerse has his bag of cheetos and an internets connection. So, what fall in consumer confidence?
June 24th, 2008 at 1:15 pmIt's Clinton's fault.
June 24th, 2008 at 1:16 pmracist_rogerse also has her an RC Cherry Cola.
June 24th, 2008 at 1:17 pmDon't worry, McGrampa has a plan.....everyone can go back to college or win the lotto!!!
June 24th, 2008 at 1:19 pmNo shit.
**eyes rolling**
June 24th, 2008 at 1:21 pmGee, now there's a surprise... The oil futures market speculators have made billions and billions of dollars off of Americans with the totally unregulated electronic trades, since Bush deregulated it in January 2006. They simply buy futures contracts, which create an artificial added demand for oil on the spot market, which raises the price a little, then wait for Bush or Cheney to rattle their sabers and threaten to bomb Iran, and this jacks up the oil prices much more. This spiral of greed has been going on for at least two years now. Hedge funds, pension funds, banks, speculators and even oil companies have jumped on this greed bandwagon. Totally shut down these unregulated oil futures markets and this price of oil and gas will drop in half in a month. A few more weeks after that, the price of gasoline in the USA will be back down to about %1.75/gallon. For more info, search on terms, "oil futures speculation." With this McSame's already slim chances to be elected President will be nil/null/zilch. Cheers.
June 24th, 2008 at 1:23 pmDr. Hussein Matt Says:
Don’t worry, McGrampa has a plan…..everyone can go back to college or win the lotto!!!
Or maybe marry a multi-millionaire beer hustler, after dumping his used to be first trophy wife.
That is a great way to buy a seat in the Senate and never have to worry about the price of gas, bread, milk ....... or beer!
June 24th, 2008 at 1:23 pmGreetings, Dr. Matt. A lot of trolls late yesterday were packing in here. I think an all-out whackfest would be fun to watch.
June 24th, 2008 at 1:23 pm.
Back in 2000, A gallon of milk cost me $1.99...
Now in 2008 that same $1.99 gets me half as much.
Back in 2000, a gallon of gas cost me $1.54...
Now in 2008 that same $1.54 gets me less than half as much.
.
June 24th, 2008 at 1:24 pmThe price of gas is one thing driving all this. People cannot afford to buy stuff. They are spending their money on only necessary items.
So, who's got the plan to turn this rotten situation around?
Not W. Not Bushlite.
So, the choice has to be Obama, and let's hope he gets the best minds in the country to start to work on lifting our economy up.
June 24th, 2008 at 1:25 pmI don't lack any confidence when I'm out shopping........
I know for a fact that I'm getting screwed , no matter the product.
June 24th, 2008 at 1:26 pmYou think ???? But Faux news reported attacks are down in Iraq from last year so they wanted to report the PROGRESS we are making. Also, that the soldiers morale is really pretty good. Compared to what I wonder.
June 24th, 2008 at 1:26 pmEVERYONE we come into contact with from comfortable incomes to those struggling are very concerned about America's future. But our politicians could care less. Until citzens start protesting in the street nothing will change.
rogerse Says:
--------------------------------------------------------------------------------
Gee, but they had plenty of confidence when they were buying the homes they couldn’t afford…
June 24th, 2008 at 1:25 pm
Yeah , by predatory lenders ; like those 2 on the news that they arrested the other day.
GOP friends of yours , shithead ?
June 24th, 2008 at 1:27 pmrogerse Says:
Gee, but they had plenty of confidence when they were buying the homes they couldn’t afford…
It's like Tourette's, isn't it? You just blurt this sh!t out without thought like a mental illness.
Hey, genius, how many of the consumers in this country who lack confidence bought houses they couldn't afford? You've got numbers? Facts? Data?
June 24th, 2008 at 1:29 pmPresident Obama will improve America's image around the world, which increases demand for American products, which creates more jobs, which improves the economy.
McSame will just continue to isolate our economy until it implodes upon itself.
No patriotic American would vote for McSame.
Brand America needs President Obama.
June 24th, 2008 at 1:30 pmThey're not "Cheetos" but generic cheese puffs. If she could afford Cheetos she'd buy Cherry Coke instead of the RC. What a loser.
June 24th, 2008 at 1:30 pmrogerese - and just why were people buying homes they couldn't afford ? Could be the crooked lending places that didn't even require statements on income? Didn't check backgrounds ? Didn't give a damn because the mortgage got sold to HedgeFunds and everybody got paid til the merry go round stopped and the homeowners most of them, got socked with double payments because the interest went sky high.
June 24th, 2008 at 1:31 pmDo homeowners share the blame for not researching their mortgage YES, but if the lenders are not sharing full information isn't that deceptive lending ? Get Real rogerese.
Gee, could it be that spending millions and millions PER DAY in Iraq would affect our confidence? Naw, that couldn't be it, now could it?
June 24th, 2008 at 1:31 pmhmmmmmmm, a 16 year low.
June 24th, 2008 at 1:32 pmAnd who was president 16 years ago?
And what was his theory? Trickle down?
So 16 years ago the people had had enough of the rich getting richer, the poor getting poorer?
Man, the more things change...
They just indicted 42 people in Illinois, mortgage brokers and realtors, for predatory lending practices you idiot.
June 24th, 2008 at 1:33 pmHey Roger2,
Ya think if we hadn't totally upset the Middle East Apple cart, the price of oil might still be below $75? Or do you think BushCo has done us a favor and kept it from being $400?
Which is it, Einstein?
June 24th, 2008 at 1:34 pmrogerese - how does paying back 9 TRILLION dollars in debt hit you ? And lets attribute that where it belongs, Iraq war boondogle that I am sure you supported and still support probably chomping on the bit to get into Iran. Not your blood is it?
June 24th, 2008 at 1:36 pm.
rogerse,
SIX DAYS...
SIX WEEKS...
CERTAINLY NOT MORE THAN SIX MONTHS...
"Bring 'em on"
"Definitive proof"
"Smoking guns"
"You go to war with the troops you have, not the troops you need"
Haven't these coxsuckers lost your confidence... YET?
(O.K. used Two Rummies to balance out the gin game...)
.
June 24th, 2008 at 1:36 pmBack in 2000, I used to have more civil liberties
June 24th, 2008 at 1:37 pmNow in 2008, I have less than half as much...
Well, well, a sixteen year low. That would mean consumer confidence hasn't been this low, since Bush 1 was publicly flummoxed by the lasers used at check-out stands.
A perfect, incompetent set of bookends.
June 24th, 2008 at 1:38 pm.
Thanks Grumpus,
Nice addition.
.
June 24th, 2008 at 1:39 pmYesterday they announced something about the value of homes going down in the last few months more than ever. That's going to be real helpful to all those people counting on using the value of their homes to retire on. And the Republicans don't want Social Security they want everybody to invest privately. Well every day my IRA goes down in value and is now worth nothing more than what I put into it. Is there nothing these guys don't want to destroy.
June 24th, 2008 at 1:40 pmAs to consumer confidence, I have confidence in underground economies. I'd barter we all have ways to benefit one another
June 24th, 2008 at 1:40 pmUsually when one is a dumb as rogerse they have enough sense to keep it to themselves.
June 24th, 2008 at 1:43 pmThis administration has destroyed everything it touches. All our departments from education to environment, to food safety. We do government theatrics and remove our shoes at the airport but allow cargo handlers occasional searches. Everything has gone down the tube and still we have rogerease people who support more of the same. Will you enjoy living in a cave rogerease or do you believe the world is ending and it just doesn't matter. Your thinking just blows my mind.
June 24th, 2008 at 1:45 pmI bet you think the price will go down afterwards too…
So, you admit the whole drilling in sensitive areas push was just a scam?
Thanks, but we already knew that.
June 24th, 2008 at 1:50 pmIt doesn't matter who's president, we will be a crumbled third world nation in 10 years unless we do something drastic.
As in WW2, we need to retool the nation to manufacture electric cars, wind energy, solar power, we need to have everyone trade in their gas cars for electric, and build alot more public transportation, or we are screwed.
We also need to rethink what and how our children are being taught in school and at home, other countries are teaching their kids to excel, our kids excel at lazy assed video games and watching american idol.
But this is asking too much of lazy, self centered, greedy Americans...they will get what they deserve if they don't pull together.
June 24th, 2008 at 1:50 pmrogerease probably has the glassy eyed stare of the two young republicans last week touting their new book. You gotta wonder what drugs they are on. Click your red shoes again rogerease and all will be just rosy under your leader.
June 24th, 2008 at 1:50 pmrogerse Says:
--------------------------------------------------------------------------------
upside99 Says:
what does the ME have to do with shrinking supply?.And if its so high, are people driving less?.
I bet you think the price will go down afterwards too…
June 24th, 2008 at 1:44 pm
Jesus , you really are stupid.
Supply and demand HAS ABSOLUTELY NOTHING TO DO with the price of gas , you brainless buffoon ; the price is set by OPEC , a Middle East consortium.
June 24th, 2008 at 1:51 pmEven Kay Baily Hutchinson-Bush admitted drilling off Florida will not reap immediate benefits. Bet bush will cut off Kay's lunch for saying that.
June 24th, 2008 at 1:52 pmtexaslady-rogerse could be riding in the Straight Talk Express as it flies off a cliff and he'd be typing a post on how beautiful the sky looks. That's why they call it BLIND allegience.
June 24th, 2008 at 1:54 pmExcuse me but oil prices are driven by commodity brokers trading in futures. Look it up. Plus the oil companies have leases HERE they are not using. Make them give up the leases if they insist on drilling offshore.
June 24th, 2008 at 1:55 pmOh, by the way you should see the "clean" oil drilling off Corpus Christi...NOT ! The beaches are tarred, crap washing ashore on the once clean beaches. Don't even wonder what chemicals are in the ocean and will do lovely things to your skin.
What chapter is 'supple and demand' you jackal piece of shit?
June 24th, 2008 at 1:57 pmBut this is asking too much of lazy, self centered, greedy Americans…they will get what they deserve if they don’t pull together.
This is scary, but true. We have built a house of cards with regard to our financial and oil markets. Speculators move the price up to make more money. The next one moves the price up even further, and on and on and on...
Supply and demand are 'old school' notions, not to be used in today's 'consortium' oriented ownership schemes. Supply and demand do not address the recent escalation in the price of gas - here in So Cal, it is +/- $4.85 per gallon. A jump of about 20% since March.
It is best to remember that the GOP does not like you and they do not like me - they like money. They are willing to hasten the bankruptcy of this contry, while holding onto their ill-gotten gains. Again, party (and wealth) over country.
If we don't right this listing ship, China will own our country. They would have won the war without firing a single shot. Patriotism also requires sacrifice - something the right side is not too good at.
June 24th, 2008 at 1:59 pmHasn't the US demand for gas been dropping since Jan of this year?
June 24th, 2008 at 2:00 pmrogerse Says:
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MCMetal Says:
wow, supple and demand means “absolutely nothing”?, what a moron, how about learning some basic economics…
June 24th, 2008 at 1:55 pm
"Basic economics" doesn't play into the price of gas or oil , nitwit ; the higher the price goes up for both , the higher other products cost , as they are all petroleum-based products and/or need to be shipped using those fuels.
Gas and oil are a separate entity.
BTW
I've seen your grasp on "basic economics" , as well as other topics ; no wonder you worship Chimpy , the worst president in US history.
It's tough to decide which of you 2 is the more stupid fu(ker........
June 24th, 2008 at 2:01 pmTeleMan Says:
Hasn’t the US demand for gas been dropping since Jan of this year?
But China and India have both increased their demand in almost the same percentage, so it is a zero sum calculation. We use less, they use more.
We are trying to ride a dying horse. The supply of oil is calculated to last about 50-60 years, with each passing year costing more and more to extract from the ground. Peak oil is here, now. We better get used to it and find an alternative.
June 24th, 2008 at 2:03 pmrogerse Says:
upside99 Says:
what does the ME have to do with shrinking supply?.And if its so high, are people driving less?.
I bet you think the price will go down afterwards too…
Roger2, you continue to impress me with your obtuseness.
Yes, We are driving less in this country, due to price of gas and we are not buying as many Repug-mobiles (SUV's) as before and what happens? The price still goes up.
We are talking about a commodity, which is driven by two things, PERCEIVED supply and PERCEIVED demand.
You don't think that taking 4 million BBLS of Iragi production off the market might impact price? That all this sabre-rattling in the ME doesn't constantly drive up the commodity market?
You either take that BushCo Kool-aid as a daily enema or you had a very bad home schooling experience. Or maybe both.
June 24th, 2008 at 2:04 pmkeep as many puchases as local as possible and when possible off the radar screen. Swap excess from your gardens for services. Frequent yardsales. Walk, bike, carpool. Simple shit goes a long way. Freeganism isn't free
June 24th, 2008 at 2:06 pmSince we are in debt to the tune of $9 trillion I would say we are owned by China already. And OBL is laughing in his cave because bush imploded America better than he ever could have. Almost makes you a believer in Manchurian Candidate theory.
June 24th, 2008 at 2:07 pmdbadass Says:
--------------------------------------------------------------------------------
Freeganism isn’t free
June 24th, 2008 at 2:06 pm
Nor is 8 years of Chimpyism .............Obviously
June 24th, 2008 at 2:09 pmFor ANYONE that says the Iraqi illegal invasion and occupation had no impact on the price of crude, please remember the following:
Crude Price June 2002 = $22
Crude Price May 2008 = $135
But giving the trolls and the other 23%ers the light of truth is like trying to bail out the Atlantic with a thimble.
June 24th, 2008 at 2:15 pmrogerse Says:
Dude, look at 53 above, OK? A pure coincidence?
June 24th, 2008 at 2:16 pmcash, cash, cash for everything and ditto to dbadass on buying local, how about a garden ? We are naturally frugal so it hasn't been a big change for us.
June 24th, 2008 at 2:17 pmWe live near a lake and the boats are barreling around after being driven to the lake by the Trailblazers...so many care less about the cost of gas.
June 24th, 2008 at 2:21 pmHowever, scooters are showing up even on I-45 so maybe ?
rogerse Says:
--------------------------------------------------------------------------------
upside99 Says:
btw, 2002-2008 is also about the time frame worldwide oil production peaked…so you really think iraq had more of an effect?.
June 24th, 2008 at 2:21 pm
Hey stupid
Know who the #1 consumer of oil/gas is ?
Not just America , more specific.
THE UNITED STATES MILITARY
Think about that , moron..............
June 24th, 2008 at 2:23 pmTexaslady - I saw this shit coming years ago, and started converting my entire yard to produce fruit and vegetables, (a terraced yard too) with NW garden touches. Heck, if I lived out in the country more I would have chickens also.
June 24th, 2008 at 2:25 pmrogerse Says:
btw, 2002-2008 is also about the time frame worldwide oil production peaked…so you really think iraq had more of an effect?.
We have stirred up the entire ME with our crazy Bush Top Gun imitation and that has hugely impacted the ACTUAL production as well as the speculation of production, which drives up prices.
So, yea, our little Codpiece Commander Guy has had a MAJOR impact on the price of all hydrocarbons.
June 24th, 2008 at 2:28 pmBuckie Boy Says:
--------------------------------------------------------------------------------
Heck, if I lived out in the country more I would have chickens also.
June 24th, 2008 at 2:25 pm
Just attend a GOP convention to find them................
June 24th, 2008 at 2:29 pmBuckie Boy Says:
Texaslady - I saw this shit coming years ago, and started converting my entire yard to produce fruit and vegetables, (a terraced yard too) with NW garden touches. Heck, if I lived out in the country more I would have chickens also.
Chickens work fine in town. I know several people who have a few hens in the backyard. Check this out.
June 24th, 2008 at 2:30 pmBuckie Boy:
June 24th, 2008 at 2:33 pmI ran pastured antibiotic chickens, and pigs for years along with extensive organic gardens. If you set it up right you could pasture a few chickens on a rotational basis and have both eggs and meat no matter how small an operation. If you have room for a garden, you can do birds
W is running out of ways of outdoing Bush 1. What will be his next step in creative disaster?
June 24th, 2008 at 2:36 pmthat should have been anitbiotic-free, sorry.
June 24th, 2008 at 2:37 pmBottom Line: Consumer confidence has never been this low since...
Father Bush!
Let's see now, what did he do?
Oh yeah, invade Iraq!
Deja Bush?
Bushwhacked?
Troll de Jour?
June 24th, 2008 at 2:37 pmactually that should have been antibiotic-free
June 24th, 2008 at 2:38 pmdbadass Says:
actually that should have been antibiotic-free
I liked it better the other way. I was imagining chickens stomping bacteria . . .
June 24th, 2008 at 3:29 pmtexaslady Says:
rogerese - how does paying back 9 TRILLION dollars in debt hit you ?
He's Republican, so he doesn't care. When his grandchildren get to be old enough to figure they are the ones who will have to pay off the debt, they will probably hit him.
June 24th, 2008 at 3:33 pmbarackocarter Says:
My consumer confidence will remain relatively low for so long as Barack O’Carter continues to lead in some polls.
There's one thing I can guarantee. Your intelligence will definitely remain relatively low.
June 24th, 2008 at 5:15 pmLike father, like son.
June 24th, 2008 at 5:44 pmbarackocarter Says:
upside99 Says:
——————————————————————————–
For ANYONE that says the Iraqi illegal invasion and occupation had no impact on the price of crude, please remember the following:
Crude Price June 2002 = $22
Crude Price May 2008 = $135
But giving the trolls and the other 23%ers the light of truth is like trying to bail out the Atlantic with a thimble.
June 24th, 2008 at 2:15 pm
______________________________________
For anyone who thinks that my sidewalk is not wet due to water baloons, consider this. Water baloons breaking on my sidewalk make it wet. My sidewalk is wet. Therefore, it must be wet due to water baloons. Right?
DING DING!!!! We have a winner! I just found the best example of troll feces here. ABSO-f'ing-lutely no tie to anything, but there it is, like a big zit on the Homecoming Queen's nose.
June 24th, 2008 at 7:11 pmbaloons?
June 24th, 2008 at 9:46 pm