The latest measure of consumer confidence [Data Here] reflects a continued trend, and the index drops well below expectations. The Consumer Confidence Survey is a monthly report detailing “consumer attitude, buying intentions, vacation plans and consumer expectation for inflation, stock prices and interest rates.”
The index now stands at 113, a drop from last month when it was 125. The decline in confidence is an outcome of workers and consumers feeling the impact of massive inflation from Joe Biden economic and monetary policies. With gas and food prices climbing rapidly, it should not be a shock to see consumer confidence begin dropping; however, the financial analysts were caught off guard by the unexpected size of the drop.
According to Marketwatch, “Economists polled by The Wall Street Journal had forecast a reading of 123.1”, a drop to 113 is a much more severe change in consumer confidence than expected. The economists who get this stuff wrong repeatedly are inside the echo-chamber of Wall Street and the financial class. There is a disconnect between those analysts and the real economy on Main Street; that’s why they are always surprised.
Inflation is eating at the middle-class on serious checkbook issues. All of the COVID stimulus and relief funds targeting the working class are being eaten up by the inflation those policies create. It is a self-fulfilling prophecy. As we have noted in prior data, consumer spending for durable goods has completely dropped.
“Spending intentions for homes, autos, and major appliances all cooled somewhat; however, the percentage of consumers intending to take a vacation in the next six months continued to climb.” (link)
Unfortunately, this trend will likely continue as ‘real wages‘ (wage growth minus inflation) continue to drop.
Energy costs are high and climbing; food costs are high and climbing; gasoline costs are high and climbing… as this continues it has a negative impact on all types of consumer spending, including durable goods and housing. This is Obamanomics all over again, only now it is JoeBamanomics.
Where is that guy with the magic wand? Let’s get him back.
I doubt that the vaccine mandates are helping the situation either.
Trust Dr. “Snake Oil” Fauci cuz… he’s an expert!
The mandates are not intended to “help” the situation in the way most of us would assume. The mandates are intended to worsen the situation and destroy the middle class entrepreneurs and those in their employ. The mandates are designed to force everyone to eventually have to work for Big Corporations and be subject to those corporate leaders’ whim, menial wages and limited healthcare (full of conditions). The globalists want slave labor back in the U.S.A. But this time it won’t be race-specific.
Or, put as many small businesses, out of business and, everyone they can on some form of gov assistance or extended unemployment. Then leading up to 22 midterms, tell everyone that if they dont vote for them their benefits will cease.
This is all intentional to make us like Cuba and Venezuela. We are only allowed to get and buy what the state dictates. None of this is by accident.
Soon there will be quotas on the amount of chicken and rice we are allowed to buy.
I’m so sick of these evil loathsome creatures.
DD
Sick of all these evil loathsome creatures.
Not just pretty words.
Synthetic Chicken and rice.
Can’t be having too much of that there protein.
Palant based synthetic food is the future intended for us.
Soylent Green soon to come.
Soylent green, coming soon to your grocery store!
There will be quotas on crops and livestock raised to create consumer quotas.
Shortages and food lines, except for the elites for whom there will always be plenty.
Soviet Union 2.0
They’re already paying farmers to destroy their crops! What in God’s name is wrong with these people? One can only conclude that they’re pure evil!
Joining the dots is a simple enough exercise. If we do so, we might see a well-defined narrative outline emerge, whose succinct summary reads as follows: lockdowns and the global suspension of economic transactions were intended to 1) Allow the Fed to flood the ailing financial markets with freshly printed money while deferring hyperinflation; and 2) Introduce mass vaccination programmes and health passports as pillars of a neo-feudal regime of capitalist accumulation. As we shall see, the two aims merge into one.
https://thephilosophicalsalon.com/a-self-fulfilling-prophecy-systemic-collapse-and-pandemic-simulation/
That’s an outstanding article. Thanks for sharing.
This article is very logical and referenced. Thanks for posting it, gives explanation to the unexplainable, particularly with virtually all countries on earth participating.
Blowing up the economy and the financial condition of the US is high on the communist’s list.
America is a unique and special country,
If you travel at all you can see it right off depending on where you go.
The western European countries look a lot like us on the outside and it take a bit of looking closer to see the difference of the lack of freedoms but they are there.
The grinding poverty in the” third world countries” is something that can not be missed so we see it right off as tourists even though the leaders of the countries try to hide it.
Our American way of thinking, the git er done attitude, the “swaggering American” attitude that so many liberals try to beat us down on is what so many of the average ordinary citizens in other countries admire and aspire to.
The individual freedom to do and think for yourself and to use this freedom to make the world a better place instead of being nickeled and dimed and boxed in by officials who are usually dumber and lazier than the average citizen.
This is why the globalists will try to tamp down and destroy the way Americans were brought up and the way we believe we have the right to live.
Actually the “swaggering American” image are normally woke or self righteous left wingers, as far as I’ve witnessed in countries such as Namibia.
These woke, arrogant, loud and very ignorant wokesters stand out in our Alaska Native communities like sore thumbs, they blend in better in their natural large urban habitats.
Next up–collapse of the Stock Market and the invasion of Taiwan.
Wrong … the Stock Market will do just fine. Do not equate that with Main Street Economy.
The Stock Markets world wide will do OK as the rich puppet masters are not about liquidate.
the FAKE NYSE marketplace will continue to march on…the money is NOT REAL! but Taiwan, and maybe Japan, will fall. RED CHINESE will be victorious in Asia!
Only if Japan,Taiwan,South Korea,Australia, Vietnam ( thats right)and others fail to stick togather- they are capable of handling Red China. ……So yeah thire toast.
The Democrats appear to be laundering money to their Billionaire donors via the stock market and Fed Manipulation.
IMO, The Stock market is being manipulatively propped-up by the Federal Reserve Central Bank and the US Treasury. A crash would have the most debilitative affect on the most Americans. This would affect American Patriots and Libtard Communist Fascist Totalitarians equally. It is the required “feel it”
A stock market crash would cause the focus of the people to the fraudulent stolen election. Just as Afghanistan is now, but with actual personal pain. This focus on the fraudulent election is what the “Bad Guys” fear most because it is crime and not just incompetency.
thedoc00… I’ve always wondered about that, repeatedly.
Will the moneyed illuminati indeed be able to maintain, or will they “screw the pooch”
or will they not be able to control the political outcomes of a cultural revolution gone mad.
One major concern for me is how America will fare financially if the US dollar ceases to
become the worlds reserve currency. For ex., if the Chinese yuan replaces it.
Over night, that would cause all kinds of problems for our debt situation.
In the meantime… an increasing number of people are wondering simply where to park
their money to escape the ravages of our continuing inflation.
People have a tendency to worry too much about where to “park” their money. Their are a number of places such as gold and silver ….always physical and not certificats.
One of the places is “under your mattress”. It is better to have $100,ooo “under your mattress”. Than to have $100,000 in the Stock market that busts 50% to zero in equity value.
He who HAS the LEAD, can get or keep everything else.
Invest in AMMUNITION, one day you’ll trade a box of ammo, for food (ONE way, or another).
Sad, but TRUE!
Beyond ammunition, I have been investing for years,…in solar panels, inverters, batteries, seperate compost toilet, generators, water totes, my vehicles, and more.
I “park” my money in tangible THINGS, since otherwise its just PAPER, not even very good for toilet paper.
Need to separate “How America and Americans fare” vs How the Illuminati fare. Two different questions and two different business models.
The one point of Sundance’s explanation of Markets that is missed is that the Global View has assumed control. There are no national boundaries in that model. The whole world is the piggy bank, producer and buyer in that model. For that reason, there is likely to never be another major war because war is bad for business, contrary to the MIC crowds misplaced beliefs.
As for currency, my views have been expressed here more than a few times. The strength of a monetary system rests on the ability to assign value. The destruction of the US dollar is all about centralizing the ability to set value in the hands of a “DAVOS Like Committee” and remove the concept of “National Currency”. It will be a single currency and it will NOT be based on Gold or Silver but set by a committee. The notion of currency exchanges and relative value of currencies will go away.
Part of the financial reset nobody has considered is that on day #1 ALL nations potentially start with a debt of zero and compensation for that decision will be allocated to non-government holders of national debt.
This all sounds a bit ambitious and over the top , this is where the Illuminati want to go. In a perverse way, it is close to the end state desired by Karl Marx in Das Kapital.
Do I agree with it?? NO. That would mean the removal of individual rights, loss of initiative to excel, loss of ability to make personal decisions and loss of the basic Christian concept of responsibility for self, a la: parable(s) of the Talents in New Testament, parable of the Brides Maids, hiding lamps under bushels, et al.
Ambitious and over the top, indeed.
Unfortunately, many things can happen between now and their version of a brave new world… and quite a few of them bad and destabilizing.
It will also ne interesting to see if they will be able to persuade all the world players (ex. China) to join their “Davos like committee”. But then again, China is not exactly independent with their need for both food and energy.
Appreciate for you input and analysis. No doubt I will still be pondering.
In parallel, the Market Economic Sector reports reflect the same as they indicate that nothing is being invested v/v Main Street Domestic GDP oriented industry is being built either.
Multi-Nationals able to reflect the value of overseas efforts as part of value of their domestically located companies (i.e. major NASDAQ) or are part of moving stuff are doing OK.
I don’t wish economic crises, but we should kick them while they are down.
What I mean is, avoid doing business with woke corporations.
I know it’s impossible to eliminate them 100% from your life but try to decrease your dependence on them.
AVOID, if we all decrease our consumption it will hit them hard. meanwhile spend you money supporting your local businesses. Also conservatives causes, people. Donate to those fighting out there. I wish we could vote our way out of this, but so far we are headed for more election fraud. No one (in DC) is doing anything about except to make it worse.
We still have our wallet
Use you purchasing power to counter the swamp.
These corporations write the laws and corrupt DC swamp passes them and here we are.
Excellent. Bring the country to its knees. Just shut it down.
I’d even organize trucker shut downs to stop the flow of goods. Evil twisted sick individuals need a lesson in who actually runs the country.
DD
I believe tomorrow, Aug. 31, is a National Truckers strike, and Australian Truckers have one planned, as well.
Come on “essential workers”, THEY have already specified WHO you are.
Sick ins, general strikes , ..
No government, no matter HOW Tyranical, can continue without the passive consent of the governed.
As long as you go to work, and pick up a loaf of bread on your way home,…and the MAJORITY of your fellow citisens do the same, the government can continue.
If the people, UNITED say “NO! we will NOT go quietly into that good night!” the government has NO power.
I’ll take advantage of ANY company to get supplies in place for the long haul. I realize I should be avoiding Costco, Walmart, and Amazon, but if you need to stock up for when SHTF, I’ll use whatever companies I can find. I don’t want to cut off my nose to spite my face, is the way I feel about it.
Absolutely agree.
Durable goods are but non existent where i’m at. Need a new refrigerator, or washer and dryer? But used and/or wait months.
Oh. Poor spelling on my part. Should have proof read. *Buy used…
The older stuff is better, anyway. Before “energy and water saving” which made washers that don’t clean, but have 27 different settings that don’t clean!
I have an older refrigerator, that has a 1-10 setting. We keep it at about 3 1/4, to 3 1/2, go any farther towards the “colder” and its starts freezing things, in the fridge part.
I have no doubt on 10, it would be a freezer.
And, pretty darn energy efficient, as well. Probably 25 years old?
You are fortunate. Most refrigerators these days don’t last much beyond 10 years, if they make it that far.
Build? Back? Better?
Some hope. It appears that US truckers may be following the lead of Australians, staging slow downs or stoppages as a protest against jab mandates.
Our poopy-head Governor Wolf just mandated masks in all public and private schools in Pennsylvania.
I’m beyond boiling.
With kids in 9th and 11th grade, I’m…….well…..I’m just boiling over.
These turdbags hyped this covid crap up so much that there’s no putting it back in the bottle.
Here is the answer to that one.
https://citizenfreepress.com/breaking/steve-lynch-is-a-force-of-nature/
I love this!
DD
Well, the peasants didnt revolt over their vote being stolen, so why should he fear doing whatever else he wants to them?
Worse in Illinois. Guv Prickster mandated masks everywhere indoors – from age 2, up. Also mandatory vaccinations for teachers and other workers, but there are a few ways around it if you’re up for the hassle. Started Monday, and my fellow co-workers were not in good moods.
Does that obese lard ass own a suit that fits him? Hes always busting out at the seams.
“That obese lard ass” would save more lives by mandating weight-loss (including himself and his wife) instead of masks. But he just keeps piling more and more LINK money in the system. You can’t imagine how fat some of these people are, and the kinds of things they buy. Disgusting!
I can imagine. There is no shortage of overweight and obese people in our community.
Saving more lives has never been the primary objective of COVID mandates anyway.
Cannot understand how he avoids COVID with his comorbidities. Should be laid out on a double vent.
Buy mesh ones.
Plug the turdbags with lead fillings, every mouthpiece. Silence is golden.
Everything is more expensive.
Soon it will be our utilities.
Housing… OMG!
Better have generators ready for the mandated scheduled brown and blackouts and shutoff of water in drought stricken areas.
PMI
Personal Misery Index
the Carter Years
“are you better off now than you were four years ago?”
JoeBama admin is the Carter admin on an overdose of steroids.
JoeBamanomics – changing the country from a drug-free workplace to a work-free drug place.
Make a list of your priorities and stick to it. Always put tithing and/or charity at the top of the list. Remember that no matter how bad things are for you and your family, there’s always somebody worse off who needs our help.
Our household is better off than most. Everything we own is paid off, including the house and vehicles. We still have utility bills, insurance, groceries, and family to spend money on. Right now we’re focusing on saving money to help when inflation gets worse.
I’d be very careful about charity. Most are run by left wing hacks and your donation could go to Biden voters – and frankly they deserve the consequences of their vote.
Been off the credit hitch, for 15-20 years,..EVERYTHING I own was paid for, in full when purchased.
After your spiritual issues (Get right with God) firstly earthly thing is to get your financial house in order.
THEN reorient your priorities, to a “prepper” lifestyle.
At least, thats how we did it, starting 15-20 years ago.
If your starting now, well good luck.
$150 shoes is cheap these days….
Maybe that is why flip flops in any weather is the footwear of choice for so many in my community.
Cheap and easy.
For now.
The same ineptitude displayed in Afghanistan and the economy typifies leftist governance.
The thing is, the election fraud used by the left is very likely conducted with the same level of incompetence. Ham handed, sloppy, and absolutely dependent on passive acceptance by those who are supposed to oppose it.
Any political party other than the GOP would be far more effective in actually stopping the left.
Now we get to relive Obama’s “recovery summer” and funemployment. This in turn was just another iteration of Carter’s “malaise” economics of high inflation, high interest rates, high unemployment, AND zero economic growth (something that shouldn’t happen).
The Republicons were and are FULLY COMPLICIT, in the leftist transformation of America.
UNIPARTY; ONE party, with two wings. And a one-winged bird can not fly.
The main strength of the Uniparty is the Republicons, but it is also the achilles heal.
As you say, an America First party with fair elections, would swamp Uniparty candidates, regardless what letter was after their name.
A couple weeks ago, a local news ad for “soon to be dropping gas prices” was being pushed at me on Facebook. Of course I got into it in the comments, but anyway… fast forward to a couple of days ago, and the same news station is scrambling to explain why gas prices “aren’t going to rise as much as expected” and touting the one cent it had supposedly fallen last week. I skipped the comments that time…
And now just watch gasoline go through the roof with the shut down of refineries in the Gulf.
Naturally, Calimexistan Gold will also shoot up, even though we refine our own gasoline, because… they can and get away with it since the Calimexistan Propaganda Machine always covers for them.
Our uniparty did everything they could to stop Trumps economy. Now they are busy stimulating JoeBamas economic collapse.
I hope we don’t attacked by Taliban. We are flying them up here and, also our border is wide open. That could really bring us down.
Afghan Security Contractor: Taliban Blocked Americans from Kabul Flights – Pushed Their People Through Checkpoints Instead
https://www.thegatewaypundit.com/2021/08/afghan-security-contractor-taliban-blocked-americans-kabul-flights-pushed-people-checkpoints-instead-video/
With the approval of the Pentagon, no doubt.
I’m not sure I care if it happens in certain zip codes.
How far back does BRIBE and BLACKMAIL from China go? Bought Clintons? Bought McConnell? Bought Biden? It seems there is a SMALL minority of congressrats and bureaucrats who do NOT work for the enemy. Most have been paid for and given instructions for destruction relative to the “crisis opportunity” that a mild bioweapon has afforded.
And propaganda will cause very many to voluntarily take the main, lethal bioweapon.
China has won a World War using a NEW secret weapon. It’s called … “money.”
So I don’t believe it is any particular previous president. The EMPEROR has given orders to destroy the U.S., the UK, Australia, etc. Billionaires wishing depopulation? Just happens to coincide with CCP plans, especially if it includes many nations who have nuclear weapons.
IT’s CHINA.
… anyone up for entertaining that Xi is the main anti-christ of the Prophets and Revelation?
“Financial analysts were caught off guard” = they have their heads up thire ass and should never be taken seriously.
USAA recently terminated, en masse, consumer lines of credit- my elderly Mother had one for years, then got a notification it had been discontinued. She called USAA to find out why, and was told they had done that for everyone. She then called Chase to see if they had a similar product and was told they were no longer being offered due to “market conditions.” The big banks and financial institutions know what’s coming, and they don’t want desperate consumers suddenly tapping lines of credit they won’t be able to pay back.
Interesting.
And they would certainly be in the know.
It’s actually a very “progressive” globalist company, pushing liberal ideology on their employees.
R3sident Bid3n is the worst, but anybody who has been reading CTH for years already knows this, but the rest of the country is slowly realizing this too…
Hey, if you always act surprised, then blame it on mitigating factors, you’re never wrong.
You get to continue playing the shell game for million$.
Per the article, “The economists who get this stuff wrong repeatedly are inside the echo-chamber of Wall Street and the financial class. ”
The “experts” missing it over and over and over again…to infinity and beyond.
When one follows the stock market, one could be led to believe that the nation is booming economically.
Even if you ignore that there’s a dementia patient in the WH, how could consumer confidence be good with super high inflation and tens of millions of people having their jobs threatened through vaxx mandates?
Then if you’re paying attention you keep hearing that we should expect supply shortages in the near future. People are hunkering down.
Tomorrow early, the Sep CPI annualized is posted. I expect 6% annualized. Recession is rumbling down the tracks!
Pending home sales fell for a second straight month in July
Analysts surveyed by Refinitiv were expecting pending home sales to rise 0.4% in July after falling a downwardly revised 2% in June.
It slipped 1.8% .
Signings fell annually across all regions with the Northeast seeing the largest decline, a 16.9% drop. Additionally, transactions were down 8.5% in the Midwest, 6.7% in the South and 5.7% in the West.
Pending home sales slide for second month as housing market cools | Fox Business
“Unexpected” was one of the key words of the 8 years of disaster from MAObama: it was always used to mean that MAObama could not be at fault for anything, because whatever the negative news about the results of his crypto-Communist policies happened to be, it was always…
…unexpected!!
Except….no, if you had any sense of History and Economics, no, the result should have been completely expected!
The real economy is crashing hard
People who control their own financial investment money are out of the Stock Market. They have had plenty of time to get out going back to the beginning of May. Actually, March if the Stock Market had not been manipulated as it has been since then.
I rarely get a major sell signal the last one April 2020 followed by a buy signal in June, 2020. I now have a major sell signal. I do not know how long the Federal Reserve Central Bank and the US Treasury will continue their manipulation?
I have no desire to watch their TV shows, nor buy their products, nor make use of their services.
Joe’s America is only affordable to the 1%