U.S. Sept. Consumer Confidence Index Falls to 76.8 From 81.7

[MaineDem]

Sept. 30 (Bloomberg) -- U.S. consumer confidence fell in September to the lowest since the end of the Iraq War as concern grew about the economy's inability to generate jobs, a private research group reported.

The New York-based Conference Board's consumer confidence index dropped to 76.8 this month, the lowest since March, from a revised 81.7 in August. The percentage of people who saw jobs as hard to get rose to 35.3, the highest since December 1993.

The pace of firings picked up this month as companies awaiting proof of sustained economic growth relied on greater productivity to meet demand. Sentiment is not likely to move substantially higher until consumers see an improvement in their employment situation, analysts said.

http://quote.bloomberg.com/apps/news?pid=10000006&sid=ajQCoeENZ25w&refer=home

[Hawkeye-X]

1. This continues, * is an automatic lame-duck Resident

and he'll be facing possible indictments for crimes against humanity ALL over the world.

Hawkeye-X

[trogdor]

4. If I were the pres.-elect...

I would issue a warning to * not to pardon any of the bozos, or else the Crawford village idiot gets thrown to the wolves.

No, I would NOT rule out prison time, pretrial confinement, etc.

[muriel_volestrangler]

12. Indictments won't worry him

He never travelled before 2000 - why would he want to after 2004? He's happy in Texas. God forbid he exposes himself to the views and lifestyles of others.

[German-Lefty]

2. Look at that market fall.

Dollar is falling -- 1.1715 to the Euro that's more than a cent loss today!!!

Market is falling -- There was bad news in the tech sector as Sun gave out warnings.

Glad my money is in Euro :-).

[Commie Pinko Dirtbag]

8. You know what happens when the Euro hits $1.3320?

The € 500 bill (yes there is such a thing and it is used "in the street") will be worth US$ 666!!! That's where the End Times begin! MWAHAHAHAHA! :crazy:

[pfitz59]

16. Ditto.....

Half my assets are in Euro. Wheeeeeeee!!!!!

[ozone_man]

3. Economists were expecting 80.5. These folks are useless.

Soon, sentiment will be returning to what it was before the irrational exhuberance caused by the Iraq war and Bush tax cuts.

[diplomats]

11. These same people also are telling us

prosperity is right around the corner :eyes:

[Maine-i-acs]

5. What's W doing today?

Isn't he supposed to be giving a feel-good speech today about the health of the US economy?

Dow is back in the post-9/11 trench. Bonds look good.

Meanwhile the big US employers switch millions of jobs to India, Pakistan, and China, while the USGOV does SQUAT about it.

The net hemorrhage of high-paying US jobs is not addressed in the GOP camp. They will probably scare us with another 'code orange' to throw the public off the scent.

We're on to them. Dems in '04!

[MrBenchley]

6. This index was routinely in the 130-140 range

during Clinton's administration...at the height of impeachment it was 133.1. It was at 133.5 in November, 2000, and suffered double digit drops from the year before every month from Chimpy's installation through his first year.

[Snellius]

7. And this is when the economy is supposedly "growing"

Bush is so out of touch with the economics of everyday life. He sees increased productivity. We see fewer workers working their butts off even harder. He increased GNP. We see the rich getting richer.

[Commie Pinko Dirtbag]

9. I wouldn't mind the rich getting richer...

...if the poor weren't getting poorer. Obvious but has to be said.

[Yavin4]

10. Gee, Maybe You Can't Have a Jobless Recovery After All

Friggin morons. What'd they think was going to happen? Do these "experts" really think that people would keep spending, even though they no longer have jobs?? Even people with jobs are not getting raises because of the high UE levels.

There's only so much debt that people can hold. Consumers are not like the federal government. They can't borrow unlimited amounts of money. Many consumers are maxed out on debt, and there aren't any jobs to pay for it.

[paulk]

15. People are even less willing to take on debt

when their savings (401k, mutual funds, etc.), are still only worth half of what they were three years ago. Consumer confidence isn't just based on jobs, it's also based on whether people think things will get better. Even people who do have steady incomes will be reluctant to borrow if they feel pessimistic about the future. The Bush economy provides no reasons for optimism.

It was post labor day last year that the economy started heading south for the second leg of Bush's double dip recession. It seems like the tax rebates may have pumped things up a little through june/july/august, but I've always thought that Sept. would be the real indicator of where things were going. It looks like history may repeat itself. This x-mas shopping season should be interesting. After last year (the worst in over thirty years) a repeat would mean "for lease" signs popping up like mushrooms after a heavy rain. It would be the final nail in Bush's economic coffin.

[papau]

13. Worst since 1993

"The Conference Board report released this morning shows unexpectedly low consumer confidence. ABC's Schindelheim reports, "two employment components of the index were at their lowest levels in more than a decade: The "jobs plentiful" index fell 1.3 points to 10.0, the lowest level since December 1993. At the same time, the "jobs hard to get" index rose 1.2 points to 35.3, its highest level since December 1993."

[olmy]

14. Christmas will save us! Get out the expect good Christmas files!

That's it...yea...the holiday shopping is expected to be the BEST EVER...sez Prez! Gifts for everyone! Buy, Buy, Buy!

[Nottingham]

17. Ok this is a American Poll on Bush! US people are TErrified!

of a economic disaster!!

The worker revolution is coming!! :bounce:

[bleedingheart]

18. Its time for another patriotic call to Shop till you Drop or

have to foreclose...

[catmandu57]

19. This economy is driven by borrowing

money for mortages and or refinancing, that is dependent on interest rates remaining low. The government however, is borrowing money hand over fist and sinking deeper in debt every day.
That should drive up the interest rate, driving down consumer spending, driving up lay offs, driving down growth, etc etc etc.... on to infinity like a snake swallowing it's tail.