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Old 08-22-2007, 04:42 AM
 
Location: Tennessee/Michigan
27,998 posts, read 46,401,830 times
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Decline Blamed on Stock Market Fall, Gasoline Prices, War in Iraq.

Consumer confidence sustained its steepest one-week drop in more than 20 years of ongoing polls this week, falling to its lowest level since the aftermath of Hurricane Katrina in late October 2005.

ABC News: Stocks, War, Gas Prices Drive Consumer Confidence to Sharpest Drop in 20 Years
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Old 08-22-2007, 07:56 AM
 
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We are all going to hell in a non biodegradable handbasket due to Bush's environment hating, corporate profit monsters, political cronies, illegal and immoral war and constitution shredding administration.

There, I already said it for ya....I know that's what someone was wanting to post
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Old 08-22-2007, 11:51 AM
 
Location: Sitting on a bar stool. Guinness in hand.
4,428 posts, read 5,497,700 times
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Default Greenspan

Quote:
Originally Posted by John1960 View Post
Decline Blamed on Stock Market Fall, Gasoline Prices, War in Iraq.

Consumer confidence sustained its steepest one-week drop in more than 20 years of ongoing polls this week, falling to its lowest level since the aftermath of Hurricane Katrina in late October 2005.

ABC News: Stocks, War, Gas Prices Drive Consumer Confidence to Sharpest Drop in 20 Years
Quote:
Originally Posted by tnbound2day View Post
We are all going to hell in a non biodegradable handbasket due to Bush's environment hating, corporate profit monsters, political cronies, illegal and immoral war and constitution shredding administration.

There, I already said it for ya....I know that's what someone was wanting to post
I have to respectfully disagree with the notion that the Iraq war, and The Bush administration are major reasons that consumer confidence is down. I believe that is more basic than that. That is that people don't feel their personal wealth and/or there neighbors wealth are in as good shape as it once was. Gas prices do definitely play a role. But look at last years prices compared to this years. I'm paying about $.015 to $0.20 less this year. Granted prices are still high but not as bad as in the recent past. The stock market decline is definitely a big player in the confidence number. If your portfolio ain't doing so hot because of bad investment you aren't are not going to feel very confident. One major player not specifically mentioned was the fact that house prices are falling nation wide. Dramatically falling in some places. This is the most expensive thing you own. And if Your house loses value, you lose wealth, which in turn makes you feel less confident in the economy overall. Plus if you see all your neighbors in the same boat of losing value in their homes. This compounds the problem.
One last thing if you really want to blame anyone for this. It not bush. And trust me. I'd love to blame it on him but I can't. You should be blaming Alan Greenspan for all of this debacle. And unfortunately you may have to blame Ben Bernanke soon if the FED cut rates in Sept. that's just going to prolong our pain.
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Old 08-22-2007, 12:31 PM
 
Location: Sacramento
13,755 posts, read 23,235,610 times
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I view it as a "so what" issue.

The combination of the stock market decline and continuing real estate concerns are the reason I believe that happened. The decline is very short lived in my perspective, and will rebound pretty well before the end of the year.

In the past, real estate investments were climbing when the market had problems, or vice versa. This poll caught the sentiment when both were struggling.
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Old 08-22-2007, 12:43 PM
 
6,760 posts, read 10,191,014 times
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Originally Posted by baystater View Post
I have to respectfully disagree with the notion that the Iraq war, and The Bush administration are major reasons that consumer confidence is down.
I was being sarcastic.
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Old 08-22-2007, 12:50 PM
 
Location: Sitting on a bar stool. Guinness in hand.
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Default not rational

Quote:
Originally Posted by NewToCA View Post
I view it as a "so what" issue.

The combination of the stock market decline and continuing real estate concerns are the reason I believe that happened. The decline is very short lived in my perspective, and will rebound pretty well before the end of the year.

In the past, real estate investments were climbing when the market had problems, or vice versa. This poll caught the sentiment when both were struggling.
Here is the problem. Your assuming that average investor is rational and not emotional. Unless we find something else to be Bubblicious the market I my view is going to have a big sell off. Even if Ben Bernanke lowers the rates there will be the looming continuing cloud of subprime and credit problems. If we get another couple of surprise in either unemployment, or defaults your going to see a lot of sheeople running in all directions to save themselves. This will only be compound if the FED has already lower rate.
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