29 January 2013

US Consumer Confidence Plunges

What is wrong with the little people, these takers and fakers? Confidence has never been better on Wall Street.

Look at the VIX and the SP 500, and booming home prices in the Hamptons. Get with the program.

Lloyd Blankfein just had a $21 million pay day. He's filled with confidence. And Jamie Dimon is walking on water.

Fraud and deceit will continue until confidence and trust improve.

Consumer confidence drops in January
By Ruth Mantell

WASHINGTON (MarketWatch) -- A gauge of consumer confidence dropped in January to the lowest level since November 2011 on lower expectations and gloomier views of the present situation, according to data released Tuesday.

The Conference Board said its consumer-confidence index dropped to 58.6 in January, missing analysts' estimates of 64.3, from an upwardly revised 66.7 in December.

A prior December estimate pegged the level at 65.1. "Consumers are more pessimistic about the economic outlook and, in particular, their financial situation," said Lynn Franco, economic indicators director at the Conference Board...