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Consumer Confidence Up? This Is Clearly An Indictment On Public Education

August 26, 2008 9:03 PM

Consumer Confidence numbers released today were up to a reading of 53. Much was made of of the number as a “percentage”. This is complete nonsense. If consumer confidence was 1.0 and then moved to 2.0 it would be the largest percentage move of all time, by far. Would that be meaningful? Uhhhh no.

The facts are the facts are the facts. Real incomes in the U.S. have fallen for 8 years. Real incomes in China are skyrocketing. Maufacturing is at an all time low in the U.S. Manufacturing is at an all time high in China. Literally 100% of the wealth in the United States is held by those over 40 (prior to free trade with China). Consumer debt levels are at all time highs and consumer delinquncies are rising rapidly. Those ARE the facts.  

And consumer confidence up? From what and why? Election hysteria is the only possible answer. The eternal hope for massive change. Unfortunately the change that would be made by an an all Democratic Congress and Obama presidency would very, very likely cause a worldwide depression, if addopted in full. The trade issue with China, while i am in 100% in support that it is a massive mistake has to be handled with great care. If we place significant protectionist tariffs, nationalize both FNM and Freddie Mac, nationalize healthcare, we WILL go into a depression, IMO. Without question the stock market will be FAR lower than it is today. That is a given.

I would provide an outline of what i believe needs to be done but unfortunaely nobody cares, lol.

Written by Tom@StockBlade.com · Filed Under General Investing/Trading Commentary 

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