Bloomberg's Consumer Comfort index collapsed to its lowest level in 6 months as 'Buying Climate' collapsed and economic expectations plunged from 48 to 42.5 (7-month lows). Those earning over $100k are happy and comfort soared but the comfort of those earning under $40k plunged to new cycle lows. Wealth transfer almost complete?
The only housing sales that rose were those valued over 750k. Sales are dropping for the middle class. http://www.realtor.org/sites/default...2014-05-22.pdf Check the data. Sales aren't picking up for the 99%.
After the terrible April departure of people from the labor force, it isn't surprising the jobless claims dropped some more. I would hardly call this strengthening since people are dropping out of the workforce and therefore not being included in the calculation for the jobless rate. Any jobs gains are being offset in job quality.
When economists have manipulated data to work with, I can see how everything is "looking up". The new normal, "just have faith", doesn't seem to be working out so well IMO.
Last edited by JRSaindo; 05-29-14 at 10:06 AM.
I'm not blaming Obama for the problem, as this all started years ago. but he isn't helping it any. We never seem to be proactive, but reactive. That is a huge problem because by the time we finally react, most of the damage is done.
It is great to be loyal but loyalty has to have its limits. When will we ever reach that limit with Obama supporters?
BTW, less then half of America receives significant snowfall.
Last edited by DA60; 05-29-14 at 10:43 AM.
'What kind of sick and twisted toy factory is this?'
'We are all the sum of our tears. Too little and the ground is not fertile, and nothing can grow there. Too much, the best of us is washed away.'
"Better to be dead and cool, than alive and uncool."
Give a man a fish and he eats for a day. Teach a man to fish and he stops voting for the Free Fish party.