Following yesterday’s disappointing jobs report, consumer confidence has fallen to the lowest level in nearly two years.
The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell two-and-a-half points on Saturday to 68.6. That’s the lowest level of confidence measured since July 24, 2009. Consumer confidence is down two points from a week ago, six points from a month ago and eight points from three months ago…
Have any of you noticed that some times it is hard to find things like Tylenol in the stores? That if you go to a clothing store, there are fewer items for sale? That when you used to go to a retail outfit a sales clerk was on you in a second and now you can stand jumping around the cash register for a minute or two before an over-worked clerk comes over to help? Fewer things in the stores, fewer people to help you – not the sign of an economy on the mend: very strong signs that retailers are barely holding on and are cutting costs everywhere they can.
The economy we have right now is at its current level because of massive money printing by the Federal Reserve and massive government spending. The Federal Reserve is done printing and even if we wanted to, we can’t afford another two or three trillion dollars in borrowed stimulus spending. We’re broke, the economy is on life support and for all the happy talk out of government and corporate America, the people see things as they are – which is why the confidence rate is going down.
No one is fooled any longer – the whole, rotten politico-economic system is broken and the people are fully awake to the scam. 2012 will be very interesting.
The Obama regime has also spent the last 2 1/2 years on picking winners and losers, and the private sector, has been one big loser. While government employee salaries are on the rise, private sector incomes and payrolls have fallen, and knowing that Obama has a healthy disdain for private enterprise, if not a complete lack of understanding of it, this dynamic will not turn around any time soon.
The VA is looking at big cuts in its budget for FY12. At our facility alone, management announced staffing reductions of 7.5% and budget cuts of 24.5 million for FY12. Federal employees working under the GS and WG pay scales did not receive a raise this year and are told not to expect one next year either. There is also talk of freezing step increases; however, I don’t know how this can be accomplish considering these longevity raises are contractual, still….
I understand those working for the President and some State, County, and municipal government workers faired considerably better regarding raises and staffing levels. However, some did not. Private sectors incomes are increasing at record setting levels for top managers, according to a report on Bulls and Bears early this week. The dynamic is most defiantly turning. Perhaps, not fast enough, but it is turning.
What? Done printing money? Not on your life. If there is no debt deal, you can bet that Geitner will announce that he made a few adjustments to buy 3 or 4 more months. What you won’t know is that those adjustments will include printing up a couple hundred billion to buy back some of that debt so they can keep chugging along.
Quantitative easing was never about speeding up the economy, it was about buying time on the debt ceiling – so was releasing the oil reserves.
Exactly. It’s all smoke and mirrors, the federal equivalent of check kiting and paying bills with credit cards while waiting to win the lottery.
1) rasmussen? next!
2) consumer confidence drops…i’m guessing this was unexpectedly.
3) to cluster’s point…isn’t it funny that the private sector is losing jobs and losing income while the public sector is gaining jobs and gaining higher incomes. which means the very people that are funding these greater number of jobs and higher incomes are not sending in any money to actually fund them because they are losing their jobs. but the “president” will tell us that it’s all the people who own private jets fault…awesome logic!
ragingbullsxxttooge…whoa…its gettin ta stank in here…with all that bull flyin…
js, this is the second time that you have read one of my post and failed to get the sarcasm. either grow a sense of humor, or learn to relax and read my entire post. if you would have read any of my posts over the past 5 years you would know what side of the fence i am on. stooge? look in the mirror first pal…I’M ON YOUR SIDE!
The future in not looking so bright thanks to the grand economic policies of the obAMATEUR.
A new IBOPE Zogby interactive poll found that 67% of Americans .. two out of every three people in this country .. believe that our nation is headed in the wrong direction.
All of that hope and change .. that fundamental transformation .. is not working so well as the dialectic predicted.
Well … if you’re a looter or a moocher, a member of the dependent class, then it is working out for you. If you are somewhat self-reliant and cherish liberty or a member of the productive class, then not so well.
Here are more numbers for you to be ponder:
The future is looking bleak in the eyes of small business owners. A vast majority of small businesses – 78% — “think the U.S. economy is currently in recession,” according to the 2011 U.S. Bancorp small business survey released last month.
Under the great leadership of the obAMATEUR, 85% of small businesses do not think things will get better next year. Why are small businesses so pessimistic about the future? More than half of the businesses in this survey cited one of the following reasons: Economic uncertainty, poor sales and excessive regulation.
And the obAMATEUR and the Democrats can’t understand why their grand standing about raising taxes on the evil rich – many of those rich people being small business owners who report their business earning on their personal income taxes – is contributing to economic uncertainty?
Remember, small business owners as a whole employ the majority of the working people in this country.
But of course, to the liberal Democrats, all the negative economics is Bush’s fault and all results are unexpected after the passage of obAMATEUR’s policies.
With increasing frequency, items I purchase for two VA Hospitals on a regular basis are backordered. Some companies I buy from don’t have an employee answer the customer service line anymore, but require their customers to leave a message, so they can call you back when they have someone available to take your order. That, I would think, is not a good sign for our economy….
who do you buy from?
joe’s hardware and hospital supplies?
I mean really get an answering service.