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CONFIDENCE UP: The forecast is that consumer confidence rose to a reading of 85.5 in July, according to a survey of economists by FactSet.
HIGHER SENTIMENT: In June, U.S. consumers expressed more confidence about the economy than they had in more than six years.
Thanks Obama!
And, in other news,
Quote:
Investing.com - Gold prices dropped in U.S. trading on Tuesday after an upbeat consumer confidence report sent investors betting that the Federal Reserve will deliver an positive take on the U.S. economy at a policy meeting this week and make fresh cuts to its stimulus program that has supported the yellow metal for years.
Again, thanks Obama! It's your fault that the American public and the Fed are getting more confident about the economy. Geez, I really hate this president
Explain the Obama policies that have led to this economic miracle. Must have been one of his executive orders?
I think a major one was staring down the Republicans on the debt limit, letting them know that he was not dealing and that they had a job to do. When he laid down the law there was no more Carnival Cruz reading Suess. That helped business confidence. Ironically it also helped Republicans to gain just a little respect.
So if the economy is bad it's Obama's fault, but if it is good, then it can't be his fault? Ok.
Right-winger logic - economy can only be good if Republicans are in charge; bad economies are always caused by libruls. But, if the economy is getting better when libruls are in charge, then the White House is fudging numbers
Quote:
Originally Posted by bluesjuke
No confidence here.
There are those that will always be pessemistic. I'm very confident you are a gold bug, hoping that your investment in gold pans out, ergo, you WANT the economy to be bad.
2nd quarter GDP grew at 4% .... Consumer Confidence relationship?
It's a snowball effect, too. Since our economy is based on consumer spending, consumer confidence is extremely important. I was beginning to wonder why my area has so many Now Hiring signs, and unemployment is between 4.5% and 5.5% in my state's region. PA has an overall unemployment rate of 5.6%, that's lower than the entire South except for VA, SC, LA, and TX, and all those are between 5.0 and 5.3%, and my state has the second highest corporate income tax in the country, and it's flat rate. PA is the antithesis to the Red States with low or no income taxes have better run economies myth.
Quote:
Originally Posted by Driller1
Some areas of the country are doing good.....some not.
The economy in mid-Michigan is doing OK......but, houses are not being built enough to help those in construction.
Our area has gone from hoping to get ahead in life.......to just trying to keep what we have.
Same in my state. The western region of my state has moderate unemployment, but some rural areas are doing good thanks to fracking, but a small portion of PA's population lives in these counties.
So if consumer confidence drops... who do I blame?
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