Consumer confidence in October drops

[OhioChick]

Source: AP

Tuesday, October 25, 2011, 10:15 AM

NEW YORK -- Consumers' confidence in the economy fell in October to the lowest it's been since 2009 when the U.S. was in the middle of a deep recession, according to a report released Tuesday by a private research group.

The New York-based Conference Board says that its Consumer Confidence Index dropped more than six points to 39.8, down from a revised 46.4 in September. October's reading marked the lowest point since March 2009 when it was at 26.9. Economists surveyed by FactSet had expected a reading of 47. A reading above 90 indicates the economy is on solid footing.

Economists watch consumer confidence closely because consumer spending accounts for about 70 percent of U.S. economic activity.

Read more: http://www.cleveland.com/business/index.ssf/2011/10/consumer_confidence_in_october.html

[HopeHoops]

1. I'm pretty confident in October - it's still here.

[xchrom]

2. recommend

[Donnachaidh]

3. if you think October is bad -- wait till December

THAT will be the burning times.

Lots of people who normally would be gearing up for the holiday season are out of work, or broke, or both right now. And even with Walmart doing limited layaways (limited to the big ticket items), many will be wondering how they can keep food on the table - let alone find any reason to celebrate.

But the pukes will be having a good old time, you betcha. :sarcasm:

[MjolnirTime]

5. Are you a time traveler or a psychic?

[OhioChick]

7. It's called "common sense"

[MjolnirTime]

9. not without actual evidence it's not.

[OhioChick]

10. Most people are struggling and hungry....

Here's an example from my state (and I'm sure other states are similar)

Census: Ohio poverty at more than 30-year high

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=4994205

Report: At least 1 in 4 families couldn't afford food in the last year(OH)

http://www.democraticunderground.com/discuss/duboard.php?az=show_topic&forum=102&topic_id=4957896

If people can't afford food, they surely aren't going to be buying much of anything else and it's not going to be a "Happy Holiday" for them.

Where's your evidence that life is peachy (and soon to be "peachier") for everyone? Or are you speaking on behalf of the 1%?

[defendandprotect]

13. 66 million impoverished Amereicans -- !!! 50 million without health care ... !!!

And where is Obama? Out selling himself to corporations/elites -- !!!

Maybe Obama will donate the money he raises to housing for homeless -- or

feeding the hungry?

[Donnachaidh]

16. no dear -- I just don't sit in front of a TV and buy the propaganda

You know, some of us actually go out into the world and talk to people. :eyes:

[Vanje]

19. ` ` ` ` `

[woo me with science]

8. We will also have the report of the Super Committee by then

and will be hearing of program cuts and further starvation to the economy.

Add to that whatever may happen in Europe.

[Donnachaidh]

17. yeah, it's going to be very interesting, isn't it?

I'm watching the local news villify the OWS group here in Atlanta, while at the same time the local churches are joining in. The old school pastors who marched with MLK are stepping up to stand with the ows group.

Some idjit in the state capital wants to cut unemployment payments by 10% or more. Claims they owe too much money to the Federal Gov. AS IF owing money was a huge thing to these crooks in Atlanta.

Christmas is going to be interesting. If more families go without on another Christmas (I know many who were foodbanking it last year) I have this feeling the anger is going to step up to rage.

[woo me with science]

20. Yes, I am beginning to see real anger in people I know who have always been apolitical.

People are struggling. People I never in my life conceived would have to worry about these things, are worried about being homeless and are finding themselves unable to meet food expenses.

I think you are right. I think we are just beginning to see the anger. People have been trained to put up with a lot of crap, but when you start messing with their ability to feed their children, something is going to give.

[Donnachaidh]

21. The formerly *apolitical* people are the ones to watch

Rage and desperation fuels actions, and I think BOTH parties are in for one rude awakening if something of *substance* isn't done soon.

Not the *historical* (ie -- nibble around the edges of a problem, enabling a great photo-op for the pols, not much of anything for the desperate) solutions, not the *speechifying* -- SUBSTANTIVE help. I still remember Obama whining about the shellacking in '10. If OWS comes up with some real demands and a possible *other* rep for the presidential races -- we might ALL be pleasantly surprised.

12 is a real crapshoot at this point.

[MjolnirTime]

4. The end is nigh!!!!

[Name removed]

18. Deleted message

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[AnneD]

6. We never really did get out of.....

that deep recession IMHO, but then I am just a 99%.

[tawadi]

11. The 1% will have to find some other sucker to buy their cheap China goods.

I speak for the 99% when I say we are holding on tight to whatever cash we have left. And credit? I think we've been screwed over by the banks enough for one lifetime.

[russspeakeasy]

12. They will sell their crap to the U.S. government for 4X value.

[russspeakeasy]

14. that's like dropping off a curb.

[yellowcanine]

15. Its a dang good thing that October is almost over then. Unfortunately I have even less confidence

in November. I am feeling pretty good about December though.