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Ear to the Ground

U.S. Consumer Confidence at 28-Year Low

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Posted on May 16, 2008

A survey released Friday showed that U.S. consumer confidence has fallen to the lowest point since the “stagflation” of the early 1980s. According to the survey, lower-income households, citing rising food and fuel prices, were the main source of the drop in confidence.


Reuters:

Consumer confidence tumbled to its lowest in 28 years this month, a survey showed on Friday, as short-term inflation expectations reached the highest levels since the stagflationary early 1980s.

The news heightens the dilemma for the Federal Reserve, which has bet that slowing economic growth will tame inflation pressures. The report also showed that lower-income households were the focus of the downturn in sentiment.

The Reuters/University of Michigan Surveys of Consumers’ preliminary index of confidence fell to 59.5 in May, the lowest since June 1980. In April it was at 62.6.

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By Fadel Abdallah, May 16, 2008 at 8:03 pm Link to this comment

On Evil Bush’s Watch!

Here are some alarming statistics and facts about the progression of disaster on evil Bush’s watch, and mostly as a culmination of his criminal disastrous policies over seven years and a half:

1. U.S. consumer confidence at 28-year low.
2. Unemployment rising from 4.5% in 2007 to 5.1% in
  2008.
3. Out of control rising food and fuel prices; for
  example, a barrel of crude oil was $ 65 in 2007,
  and it stands today at $ 115.
4. People’s confidence in a secure retirement dropped
  to 29% in 2008 from 41% in 2007.
5. In relation to his criminal war in Iraq, the
  number of Americans killed surpassed the 5
  thousand figure, and the number of those
  crippled for life exceeds 30 thousands.
6. The number of American enemies in the Middle East
  has tripled or quadrupled as a result of the total
  destruction of Afghanistan and Iraq and the
  approximately 2 to 3 million displaced and
  refugees as a result of Bush’s criminal war.
7. And Bush has the luxury to join criminal Israel in
  celebrating its 60 anniversary of terrorism,
  occupation and dispossession of the natives of
  Palestine, and making hollow repeated statements
  about imagined terrorists and Israel’s security,
  ignoring that his own stupid appearance on the
  Israeli stage has only the double effect of
  bringing more insecurity to the U.S.

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By DennisD, May 16, 2008 at 2:21 pm Link to this comment
(Unregistered commenter)

Vote all incumbents out this November. They’ve been the managers of the fiasco called the U.S. economy.

I know they’ll only come back as lobbyists but we have to start somewhere.

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