Consumer Confidence Crashes – Worst Since Carter

Worst. President. Ever.
Mission Accomplished.
Thanks to Barack Obama and his failed far left policies, US consumer confidence is now at levels not seen since the Carter Administration.
Bloomberg reported:

Confidence among U.S. consumers plunged in August to the lowest level since May 1980, adding to concern that weak employment gains and volatility in the stock market will prompt households to retrench.

The Thomson Reuters/University of Michigan preliminary index of consumer sentiment slumped to 54.9 from 63.7 the prior month. The gauge was projected to decline to 62, according to the median forecast in a Bloomberg News survey.

The biggest one-week slump in stocks since 2008 and the threat of default on the nation’s debt may have exacerbated consumers’ concerns as unemployment hovers above 9 percent and companies are hesitant to hire. Rising pessimism poses a risk household spending will cool further, hindering a recovery that Federal Reserve policy makers said this week was already advancing “considerably slower” than projected.

“The mood is very depressed,” said Chris Christopher, an economist at IHS Global Insight Inc. in Lexington, Massachusetts. “Consumers are very fatigued and very uncertain. In the short term, people are going to pull back on spending.”

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  • Militant Conservative

    We are forcing the president out via economic terrorism. BWAhahahahahahaha

    powder is dry.

  • #1AMERICAN

    and the POS is laughing when he looks in the mirror….time for all mooslums to be booted from america or what you see in england will be here soon…be prepared and arm yourselves heavily…I am ready

  • Good News

    RT @Reuters: FLASH: Appeals court rules that Obama’s healthcare law’s individual mandate to own health insurance unconstitutional

  • http://www.freedominion.com.pa/phpBB2viewtopic.php?t=132803 backhoe

    Return with us now to those thrilling days of yesteryear- Stagflation…

  • listingstarboard

    Then explain HTF Gallup releases a poll today saying the Democrats are surging against Republicans and that Dems would win Congress if the electon were today? Will there be enough government positions for all of these “journalists” in the Communist Party Leadership that Obama is striving for? Do all of these lackeys think that Obama will take care of them if they just keep lying for him now?

  • gastorgrab

    You might even call it a “crisis of confidence”.

  • bg

    ++

    ‘Something of historic proportions is happening’

    How did he get people on his side?

    He did it by promising jobs to the jobless, money to the
    money-less, and rewards for the military-industrial complex.

    He did it by indoctrinating the children, advocating gun control, health
    care for all, better wages, better jobs, and promising to re-instill pride
    once again in the country, across Europe, and across the world.

    He did it with a compliant media – did you know that?

    And he did this all in the name of justice and change.
    And the people surely got what they voted for.

    Yes, we did, even those of us who did not vote for this
    man of whom Kaiser speaks. This man was Adolf Hitler.

    more @ link & here, ie:

    by Barack Obama

    [Nevertheless, the Western World did not complain in 1933 because
    Hitler, though a fascist and a totalitarian, was seen, like countless
    American puppet dictators today, as someone who leaves the established order in place.]

    ==

  • MAJ Mike

    All true, but we’re still stuck with this empty suit. What kind of riots will there be when THE WON becomes HE WHO LOST?

  • chicago

    Jimmah’s celebrating today! he’s no longer the worst president in history and the evidence keeps pouring in!

  • http://Facebook Roger Simoson

    Roger Simpson
    NOTICE of LAYOFF..Thank you Mr Obama..;(

    Lay Off Letter
    Little wonder why this guy is boss. He is sharp!
    You can’t be any fairer than this leader…

    Dear Employees:
    As the CEO of this organization, I have resigned myself to the fact that Barrack Obama is our President and that our taxes and government fees will increase in a BIG way. To compensate for these increases, our prices would have to increase by about 10%.
    But since we cannot increase our prices right now due to the dismal state of the economy, we will have to lay off sixty of our employees instead. This has really been bothering me since I believe we are family here and I didn’t know how to choose who would have to go.
    So, this is what I did. I walked through our parking lots and found sixty ‘Obama’ bumper stickers on our employees’ cars and have decided these folks will be the ones to let go. I can’t think of a more fair way to approach this problem. They voted for change……I gave it to them.
    I will see the rest of you at the annual company picnic.

    Wall Photos

  • Bob Z

    Is that picture taken at the local ACORN office?

  • Mike

    You had me at “Worst since Carter”.

  • Gideon Reed

    I know who jahn Galt is,…..but who the hell is Chris Mathews????

  • Patty

    Why this hasn’t been the feelings of more Americans long ago. Remember the campaign and everyone saying how intelligent and his words are like butter melting off his lips and those tingles.

    I never bought what he was dishing out the moment I heard him. When he gave his speech in front of the Greek Parthenon you knew he was a phony.

    The next president needs to speak to the people in his own words. Yes, he will need a teleprompter but for every speech?

    He can’t fix the economy but the fix is in on Obama. Pitiful and sad he is the leader in such petulant times in our his.

    It seems darkest just before the Dawn. The elections can’t come soon enough.

  • Old Fan

    Thanks disastrous Democratic Party…

    What a mess.

    Obama, Pelosi, Reid, Clinton, Schumer, Holt, Rangel, Boxer, etc.

    One big ugly joke.

  • Mahon

    Never mind Carter. We are entering James Buchanan territory here.

  • Lenore

    I think they should also be going after all the waivers. I am very surprised they are not.

  • Sandy

    In this picture Obama reminds me of the commercial where an American calls up and gets a foreigner manning what should be an American company’s customer service. The guy answers the phone HOLLO MY NAME IS PEGGY.

  • tommy mc donnell

    how many people think the fruits of their labor should go to someone else rather than to themselves? the left thinks everyone feels that way. i think most people would rather that they get what they worked for instead of someone else. you can’t take that incentive away from people and think they are going to continue to work just as hard. if the left were correct then every communist country would have had the greatest economy in history. instead they have had some of the worst economies in history. self-interest is the best economic incentive in history. the left refuses to recognixe human nature. our economy will not turn around until the american worker recaptures their right to the fruits of their labor. that means lowers taxes.

    you hear the phrase “paying their fair share” in regard to taxes all the time from politicans. in a FREE country a citizens fair share of taxes is to pay enough money in taxes to pay for the services that government provides that citizen and not one penny more. the people in government are suppose to serve the citizen not the citizen serve the people in government. when we got away from that principle as a nation in the 1930’s we started down the road to where we are now. a nation governed by people that think the citizen works for them.

  • ogee

    There’s that little weasal who’s commonly known these days a “craptalker in chief” on PJTV