This morning consumer confidence did a double back-flip with a 2 1-2 twist, just the entry into the water caused a bigger splash then expected. CC came in at 48.5 nearly 4 points lower then consensus and certainly lower then July's 53.2. So the message to the government and the Fed.... the rally isn't doing anything for consumer confidence, but I suspect it didn't have much to do with that.
Since POMO's effect on the market isn't having an effect on voters, I wonder how long it is before the program is modified?
Now, take a look at the Richmond Fed's business activity Index and then take a look at expectations below... hold on for this one.
6 comments:
Let us hope that not much longer. Even CNBC posted a survey yesterday that consumers confidence is not going to be influenced by the stock market. They want to see jobs before confidence comes back. Thick skulled Ben is going to continue down his path because his arrogance won't let him admit that he has been wrong all along.
i guess the question is how much can you manipulate the markets with billions when you're using derivatives???
There has been speculation they are allowing 30x leverage of these POMO asstes.
my gosh that is some awful data
thank you for posting this. a very reliable source of information i never looked at. i am learning a great deal on this site. thank you.
Wouldn't be surprised Jack!
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