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.