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Thread: Consumer confidence strongest in over five years in May

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by iguanaman View Post
    The fact that the entire thing happened while the Republicans were in total control is just a coincidence? Do tell.
    so this means you will be throwing away the blame Bush card on everything that happened after 2008

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by iguanaman View Post
    The Conference Board, an industry group, said its index of consumer attitudes jumped to 76.2 from an upwardly revised 69 in April, topping economists' expectations for 71. It was the best level since February 2008.

    Consumer confidence strongest in over five years in May | Reuters

    More bad news for Republicans but GREAT news for the rest of us. Consumer spending makes up 75% of our economy.

    Oh course consumer confidence is high.

    The stock market is being artificially pumped up by the Fed.

    The housing market is being artificially pumped up by the Fed/Fannie/Freddie (again).

    Ignoramus economists are preaching how times are getting better.

    And the CPI is artificially masking the true inflation rate (which is much higher then reported) - so the Fed can keep bankrolling all this 'growth' AND the government's giant deficits.

    Throw enough debt at an economy and eventually the ignorant masses/economists will start to think things are great - it's a no brainer.


    Of course, when all this comes crashing down, this chart will plunge with it.

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    Re: Consumer confidence strongest in over five years in May

    Current Trend: Q1 2009 – Q1 2013 – During that time, there was a confirmed upward trend with real GDP rising by about $68.2 billion per quarter (using the value of the dollar from 2005, so we can compare “apples to apples”). That translates to an approximately 2.01 percent annual growth rate, which is not fast enough, given the deep recession from which we’re recovering. Having this growth rate is better than being in recession of course, but the employment situation won’t improve very rapidly at this rate.
    Projected Next Data Point

    While there are multiple releases for each quarter’s GDP, for the projection I will always look to the next quarter, not just the next report. The next quarter’s GDP will be for Q2 2013. If the recent trend (excluding off trend data points) extends perfectly, the actual Q2 2013 GDP will be $13,826 billion (or $13.826 trillion), which would represent an annualized increase of 2.77 percent from the previous quarter. This seems unlikely given that the payroll tax just went up for people and that the government cut billions of dollars in spending (the “sequester”).
    http://easynomics.com/wp-content/upl...Doug-Short.gif

    GDP - Real Gross Domestic Product - Trend Analysis of Latest Data - Easynomics

    GDP, CPI and other key economic reports
    This week Month ago Year ago
    Gross Domestic Product (billions) 16010.2 16010.2 15461.8
    Housing Starts (thousands) 610 619 492
    Producer Price Index 194.9 196.2 193.8
    Consumer Price Index 231.5 232.3 229.2
    Purchasing Managers Index 50.7 51.3 54.8
    Retail Sales 419027 418284 408039
    Unemployment Rate 7.5 7.6 8.1


    Read more: Gross Domestic Product | GDP | Consumer Price Index CPI Housing Starts Unemployment Rate US
    Follow us: @Bankrate on Twitter | Bankrate on Facebook

    I wouldn't celebrate just yet.

  4. #74
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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by DA60 View Post
    Oh course consumer confidence is high.

    The stock market is being artificially pumped up by the Fed.

    The housing market is being artificially pumped up by the Fed/Fannie/Freddie (again).

    Ignoramus economists are preaching how times are getting better.

    And the CPI is artificially masking the true inflation rate (which is much higher then reported) - so the Fed can keep bankrolling all this 'growth' AND the government's giant deficits.

    Throw enough debt at an economy and eventually the ignorant masses/economists will start to think things are great - it's a no brainer.


    Of course, when all this comes crashing down, this chart will plunge with it.
    You are right about one thing. Most of us don't care why things are improving, only that they are.
    You only get one life and time is ticking, all we want is to get on with it.
    Give up with the doom and gloom. We have just begun to shine.

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by iguanaman View Post
    You are right about one thing. Most of us don't care why things are improving, only that they are.
    You only get one life and time is ticking, all we want is to get on with it.
    Give up with the doom and gloom. We have just begun to shine.
    Funny, when I was a crackhead (I quit in 2002), that was EXACTLY what most people I got high with thought.

    Sacrificing tomorrow for a better today is never wise - in drug addiction/alcoholism or macroeconomics.
    Last edited by DA60; 05-29-13 at 02:36 AM.

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by Fenton View Post
    I mean sure, we have the IRS being used to target Americans with opposing political view points, and with direction from the higher ups at the WH.
    It's always "target". Targeting is scary. But it's never "arrested", nor "ruined", nor "harmed", nor "stole from", nor even "charged a dime more than the IRS was legally entitled to do so", nor did any kind of measurable damage to. The Tea Party groups weren't even denied the tax exempt status that they were applying for. It's just "target". Because there was no damage. And because "made them fill out some forms" doesn't have the same ring to it.
    Liberté. Égalité. Fraternité.

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by Paschendale View Post
    It's always "target". Targeting is scary. But it's never "arrested", nor "ruined", nor "harmed", nor "stole from", nor even "charged a dime more than the IRS was legally entitled to do so", nor did any kind of measurable damage to. The Tea Party groups weren't even denied the tax exempt status that they were applying for. It's just "target". Because there was no damage. And because "made them fill out some forms" doesn't have the same ring to it.
    The idea that anyone outside the dumbasses at the IRS would ever plan or approve such a lame and harmless "plot" at the risk of losing so much if exposed is laughable.
    Those groups didn't even need to apply for the exemption at all, it isn't even a requirement for claiming it. It is just another insult to Obama's intelligence to say he was somehow involved.

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by DA60 View Post
    Funny, when I was a crackhead (I quit in 2002), that was EXACTLY what most people I got high with thought.

    Sacrificing tomorrow for a better today is never wise - in drug addiction/alcoholism or macroeconomics.
    And just what are the American people "sacrificing" by enjoying a better economy than they have had in years?
    Do you want us all to stay like frightened sheep so you can further the aim to cut the heart out of the "social contract".
    No thanks.

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by trfjr View Post
    so this means you will be throwing away the blame Bush card on everything that happened after 2008
    oh please ... the correct title should be "Consumer confidence strongest in over five years in May despite Bush's 8 years and Republicans' attempts to suppress it -- and the vote"

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    Re: Consumer confidence strongest in over five years in May

    Quote Originally Posted by TheGirlNextDoor View Post
    http://easynomics.com/wp-content/upl...Doug-Short.gif

    GDP - Real Gross Domestic Product - Trend Analysis of Latest Data - Easynomics

    GDP, CPI and other key economic reports
    This week Month ago Year ago
    Gross Domestic Product (billions) 16010.2 16010.2 15461.8
    Housing Starts (thousands) 610 619 492
    Producer Price Index 194.9 196.2 193.8
    Consumer Price Index 231.5 232.3 229.2
    Purchasing Managers Index 50.7 51.3 54.8
    Retail Sales 419027 418284 408039
    Unemployment Rate 7.5 7.6 8.1


    Read more: Gross Domestic Product | GDP | Consumer Price Index CPI Housing Starts Unemployment Rate US
    Follow us: @Bankrate on Twitter | Bankrate on Facebook

    I wouldn't celebrate just yet.
    I'm with you on this ... the Republicans are regrouping, trying not to panic, and trying to come up with ways to dampen consumer confidence ... give them a bit ... they'll come up with something I betcha ...

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