molson_golden2002 Posted October 28, 2008 Share Posted October 28, 2008 Not to bring up more bad news, but...there's more bad news: http://money.cnn.com/2008/10/28/news/econo...sion=2008102813 NEW YORK (CNNMoney.com) -- A key measure of consumer confidence fell to an all-time low in October as the financial crisis weighed on American household budgets. The Conference Board, a New York-based business research group, said Tuesday that its Consumer Confidence Index plummeted to 38 in October from an upwardly revised reading of 61.4 in September. Last month's decline brings the index to its lowest level since its inception in 1967. "Consumers certainly appear to think the sky is falling," said Adam York, economic analyst at Wachovia Economics Group, in a research note. Economists were expecting the index to have declined to 52, according to a survey by Briefing.com. Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 28, 2008 Share Posted October 28, 2008 So you think the Democrats aren't responsible for the current economic mess? Let's hear it! How is this the Dems fault? Link to comment Share on other sites More sharing options...
Chef Jim Posted October 28, 2008 Author Share Posted October 28, 2008 Not to bring up more bad news, but...there's more bad news: http://money.cnn.com/2008/10/28/news/econo...sion=2008102813 And that is reason number one for the market's steep decline. Fear, some rational, some irrational. Many great quality stocks have been beaten down but when the dust settles and all the rats are done fleeing the ship the march upward is going to be rapid and high. Those in cash will miss out again. Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 28, 2008 Share Posted October 28, 2008 And precisely ihow s that different than 4 or so posts above where LA does an amazing Stuckincincy impersonation and blames the whole mess on solely the dems? I think it's been pretty well documented that the Democrats pushed to increase the amounts that the sub-prime mortgages could be written for in hopes of bolstering their local votes; Pelosi in particular, who lives in an area where housing costs are through the roof. At a time when many members of the right were pushing for more regulation, people like Barney Franks stood around saying "There's nothing to see here. Everything is fine. Let's move along." Please don't make me dig up all the videos. It's been extremely well documented. How anyone can deny this is very surprising to me. I know citing people from the right holds no water for people on the left, but I think there's a high probability Michael Reagan was right over a year ago when he predicted that the left would do what it could to tank the economy so they could win full control of everything, which is precisely what they're about to do. Now add in the Chef's thoughts, and it really comes full circle. They tank it while the Republicans are in office, blame it on the right, win a majority across the board, and when the inevitable rebound takes place, the left says "We saved you," and the world will readily agree without questioning a thing. I don't expect anyone on the left to understand or accept this because, well, you guys just don't. And it's just an opinion based on everything I've read and listened to. The floor is yours, Speaker Pelosi. Link to comment Share on other sites More sharing options...
DC Tom Posted October 28, 2008 Share Posted October 28, 2008 Not to bring up more bad news, but...there's more bad news: http://money.cnn.com/2008/10/28/news/econo...sion=2008102813 Somebody remind me...is consumer confidence a leading or lagging indicator? And does anyone have a chart comparing consumer confidence vs. changes in the Dow? Link to comment Share on other sites More sharing options...
Chef Jim Posted October 28, 2008 Author Share Posted October 28, 2008 Let's hear it! How is this the Dems fault? Here's one persons opinion Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 28, 2008 Share Posted October 28, 2008 Somebody remind me...is consumer confidence a leading or lagging indicator?And does anyone have a chart comparing consumer confidence vs. changes in the Dow? Both? It's obviously following after the bad news on Wall Street, but its showing bad times ahead if people are not buying toasters and stuff. Link to comment Share on other sites More sharing options...
Chef Jim Posted October 28, 2008 Author Share Posted October 28, 2008 Somebody remind me...is consumer confidence a leading or lagging indicator? And does anyone have a chart comparing consumer confidence vs. changes in the Dow? Seeing most consumers are idiots I'd say lagging. Link to comment Share on other sites More sharing options...
elegantelliotoffen Posted October 28, 2008 Share Posted October 28, 2008 Here's one persons opinion Orson Scott Card is a Hugo-award-winning science fiction author, having written Ender’s Game and Speaker for the Dead Link to comment Share on other sites More sharing options...
molson_golden2002 Posted October 28, 2008 Share Posted October 28, 2008 And that is reason number one for the market's steep decline. Fear, some rational, some irrational. Many great quality stocks have been beaten down but when the dust settles and all the rats are done fleeing the ship the march upward is going to be rapid and high. Those in cash will miss out again. I sure hope it is rapid and high, but if Consumers are not consuming this sh-- can spirial down fast. Link to comment Share on other sites More sharing options...
DC Tom Posted October 28, 2008 Share Posted October 28, 2008 Orson Scott Card is a pretty good SF writer. On any other topic, he's a card-carrying moron. I don't even need to read the link Chef provided to laugh at it...if Card got anything right in it, it was probably by accident. Link to comment Share on other sites More sharing options...
DC Tom Posted October 28, 2008 Share Posted October 28, 2008 I sure hope it is rapid and high, but if Consumers are not consuming this sh-- can spirial down fast. Ultimately, the American Consumer will do whatever their television tells them to. Which is usually "Buy. On credit." Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 28, 2008 Share Posted October 28, 2008 QUOTEOrson Scott Card is a Hugo-award-winning science fiction author, having written Ender’s Game and Speaker for the Dead Chef forgot. The minute anyone writes anything disparaging about the left, the left's first rule of thumb: Don't discuss, just discredit. Orson Scott Card is a pretty good SF writer. On any other topic, he's a card-carrying moron. I don't even need to read the link Chef provided to laugh at it...if Card got anything right in it, it was probably by accident. It's actually an interesting article that slams journalists. Yes, it slams them from the right, but it's a pretty good article. Link to comment Share on other sites More sharing options...
IDBillzFan Posted October 28, 2008 Share Posted October 28, 2008 Ultimately, the American Consumer will do whatever their television tells them to. Which is usually "Buy. On credit." This is one of my favorite SNL skits. Link to comment Share on other sites More sharing options...
GG Posted October 28, 2008 Share Posted October 28, 2008 Somebody remind me...is consumer confidence a leading or lagging indicator? And does anyone have a chart comparing consumer confidence vs. changes in the Dow? A chart, no. But how about the equity market's reaction to the consumer confidence news today? Woo hoo, the consumers are finally down & out, I smell a buying opportunity. Link to comment Share on other sites More sharing options...
elegantelliotoffen Posted October 28, 2008 Share Posted October 28, 2008 Chef forgot. The minute anyone writes anything disparaging about the left, the left's first rule of thumb: Don't discuss, just discredit. I'm still waiting for Gene Roddenberry to weigh in on the subprime mortgage crisis. Link to comment Share on other sites More sharing options...
DC Tom Posted October 28, 2008 Share Posted October 28, 2008 It's actually an interesting article that slams journalists. Yes, it slams them from the right, but it's a pretty good article. I know. I read it. He's still a moron. I can and have done a better job sllamming the press than he did. Link to comment Share on other sites More sharing options...
DC Tom Posted October 28, 2008 Share Posted October 28, 2008 I'm still waiting for Gene Roddenberry to weigh in on the subprime mortgage crisis. He'll get to it as soon as he and Bobby Heinlein finish their health care plan. Link to comment Share on other sites More sharing options...
Philly McButterpants Posted October 28, 2008 Share Posted October 28, 2008 Does any one here honestly not believe that the day after the Chosen One's inauguration that the MSM will "discover" that it is morning in America and everything is now sunshine and roses? How could the recession not be suspended at least temporarily? I say temporarily because once Big O's economic and tax policies take hold, Carter will have looked like a genius . . . Link to comment Share on other sites More sharing options...
The Big Cat Posted October 28, 2008 Share Posted October 28, 2008 Chef forgot. The minute anyone writes anything disparaging about the left, the left's first rule of thumb: Don't discuss, just discredit. It's actually an interesting article that slams journalists. Yes, it slams them from the right, but it's a pretty good article. Hahahaha! This is your funniest post to date. Yeah, that's the left's first rule of thumb all right! Perhaps you'd like to share us your views on the LA Times again? Or what about the Washinton Post or NYT? No, surely they belong in the same credibility arena as a science fiction writer!! Oh boy! Good one! Link to comment Share on other sites More sharing options...
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