Widely watched survey shows consumer sentiment slipping in August
NEW YORK - The fear on Wall Street is that nervous consumers are going to short-circuit the economic recovery.
Stocks fell sharply Friday after investors were disappointed by media reports that the Reuters/University of Michigan index of consumer sentiment fell significantly short of expectations for the first part of August. That’s a sign consumers may well keep cutting back their spending as they worry about losing their jobs. Consumer spending is crucial for the economy to emerge from recession as it accounts for two-thirds of all U.S. economic activity.
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If you closely watch the stock numbers you will see that they inversly coincide with Obama.
ReplyDeleteWhen it looks like his policy might be enacted into law, the stocks take a dive over fears that Obama's policies will wreck the economy. When Obama's policies tank, stocks go up.
It's interesting really.
The stock market is being manipulated by the large banks who have taken a couple trillion dollars of printed money from the Fed. Instead of eliminating the toxic assets from their balance sheets, they have used the money to arbitrarily move the market higher. Their hope is to convince us to reinvest what we have left of our retirement accounts back into the market. If we do, they will crash it again and wipe out our remaining wealth.
ReplyDeleteBuy silver and gold while you can.
ReplyDeleteWhy do you think people are standing out on the street asking to buy your gold? Because the dollar is going to tank and the Govt. will give you 1/10 of what your money was worth. Gold will always retain it's value because all paper money (U.S. and foreign)is back by gold. The U.S. is printing more money then they are holding in gold reserves, thus making our dollar practically worthless. China is knocking on our door.