Consumer Confidence Collapses Massively In June

Source: Business Insider

The Conference Board's consumer confidence index for June dropped sharply to 52.9, which is a horrible underperformance of expectations given that consensus had forecast a reading of 62.

It also disappoints bulls after three consecutive months of improvement previously.

To some degree a pullback was expected as the economy has been long forecast to slow as we enter the second half of 2010, but this shift in consumer sentiment has clearly been surprisingly severe.

Conference Board:

The Index now stands at 52.9 (1985=100), down from 62.7 in May. The Present Situation Index decreased to 25.5 from 29.8. The Expectations Index declined to 71.2 from 84.6 last month.





Read more: http://www.businessinsider.com/consumer-confidence-june-2010-6

is starting to pay dividends

It's time for the President to get the country moving.

...with an ~ 18% real unemployment, dismal prospects for the millions that are long and mid-term unemployment and the evident priorities of the Obama admin and "moderate" Dems that survival and profit of big, parasitical corporations in the financial and insurance sectors take precedence over the millions of citizens being productively employed.

In this respect, Obama has to take some responsibility. My big fear is that this admin collude in a re-definition of "normal" as upwards of 20% real unemployment... as long as the stock market is happy.

Oops!

I meant bye bye!

Something re-slumped about 3 weeks ago.*
May looked very promising.
Then.... off a cliff.

*the Freight-on-the-Belt index is one truck driver's view of freight moving through his truck and down the conveyor belt. Basing investment decisions on the Freight-on-the-Belt index is risky but Freight-on-the-Belt index often sees a slump first.