Friday, May 16, 2008

Consumer Sentiment Falls to Lowest Level in 28 Years

Consumer Sentiment Falls to Lowest Level in 28 Years!

"Consumer confidence continued to slip in early May due to surging food and fuel prices," the Surveys of Consumers statement said. "Record numbers of consumers viewed the economy in recession and saw little hope of recovery anytime soon."

We can thank the fed. Of course, there is no inflation. Remember the CPI numbers was "good".

Also worrying for policymakers at the Federal Reserve, five-year inflation expectations hit their highest since August 1996, edging up to 3.3 percent from April's 3.2 percent.

Why are these people worried about inflation? Inflation is "contained".

Let's see if we get another clown claiming this is good for stocks as it's a contrarian indicator.

No comments: