Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Economy
Related: About this forumConsumers, Small-Business Owners Souring on This Economy
Consumers, Small-Business Owners Souring on This Economy
by Wolf Richter April 27, 2016
[font color="blue"]Flashing a recession signal.[/font]
Consumer optimism about the economy is waning, and small-business-owner sentiment is giving off recession vibes. Thats how different surveys are now mucking up the rosy scenario.
Gallups Economic Confidence Index, released today, added another dimension. It dropped four points in the week ending April 24, to -16, the lowest since August 2015, and down from positive territory in January 2015.
It left Gallup groping for answers:
Pessimism has increased despite a strong stock market in recent weeks and a persistent low unemployment rate. However, there have been reports of weak retail sales and expectations of low first quarter economic growth. Gas prices have also started to rise, although they remain well below where they were for most of the past decade.
The report also blamed the rhetoric emanating from the presidential primary. Candidates, still unconstraint by the dictum affecting US Presidents to always hype the economy, have unabashedly pointed at some ugly spots in the rosy scenario and have suggested how they would fix the US economy if elected. This, Gallup says, rattled some nerves.
In January 2015, the index was at +5. It wasnt exactly wallowing in exuberance, given its theoretical range of +100 to -100 (it hit -65 during the Financial Crisis). But that was the high point. And it has been zigzagging south ever since.
Consumers dont live in the Wall-Street economy. They struggle with their daily challenges in the real economy. For them, its tough out there. Study after study confirms that about half of them, even those considered middle class, are living from paycheck to paycheck and cant come up with $500 for emergency purchases. ............(more)
http://wolfstreet.com/2016/04/27/consumers-souring-on-economy-small-business-sentiment-recession-signal/
InfoView thread info, including edit history
TrashPut this thread in your Trash Can (My DU » Trash Can)
BookmarkAdd this thread to your Bookmarks (My DU » Bookmarks)
2 replies, 847 views
ShareGet links to this post and/or share on social media
AlertAlert this post for a rule violation
PowersThere are no powers you can use on this post
EditCannot edit other people's posts
ReplyReply to this post
EditCannot edit other people's posts
Rec (6)
ReplyReply to this post
2 replies
= new reply since forum marked as read
Highlight:
NoneDon't highlight anything
5 newestHighlight 5 most recent replies
Consumers, Small-Business Owners Souring on This Economy (Original Post)
marmar
Apr 2016
OP
Blame the candidates??? Asshole elites will never accept that the Great Recession never ended
Kip Humphrey
Apr 2016
#2
dixiegrrrrl
(60,010 posts)1. "economy soured on consumers" is more appropriate.
Love the way they write the article as if "consumers" are doing a voluntary pullback instead of a forced one for lack of income.
Kip Humphrey
(4,753 posts)2. Blame the candidates??? Asshole elites will never accept that the Great Recession never ended
for most of us. Why?
For them, everything is rosy and has been for quite some time
Having skewed economic measures with their own feel good numbers, the elites have come to believe their own propaganda
They don't exist outside their bubble of privilege so they don't see it