Consumer Confidence Crashes After Obama Victory

Alternative headline. Obama wins. Economy loses.

The preliminary University of Michigan-Thomson Reuters consumer sentiment index fell to 74.5 from 82.7 in November.

That’s far below the 82.0 expected in a MarketWatch-compiled economist poll, eliminating four months of gains and also representing the biggest one-month drop since March 2011.

Those four months of gains came when people (and by people, I mean American workers and businessmen, not government class parasites) thought that there would be a change of leadership in Washington DC.

Now that it’s clear that there will be no such change in leadership and that the country is stuck with a man who thinks that he’s playing Monopoly when he’s actually playing Candyland, confidence is dropping sharply for the same reason that confidence in surviving a plane trip drops when your pilot announces that he has no idea how to fly, but that’s okay because jet engines are racist.

The experts assumed that nothing was wrong, but instead consumer confidence dropped 12 times more than forecast and the economic news falls into the category of bad and worse.

Consumer spending already faltered months ago. The third-quarter report on gross domestic product revised an already weak original annualized estimate of 2.0% in personal consumption growth down to a pathetic 1.4%. Personal consumption expenditures decreased by 0.2% in November.

American consumers appear to have more ant-sense than the grasshopper economists and politicians. They’re preparing for hard times.

  • victor

    Unfortunately, all that is irrelevant, they voted for the Jack-ass. But I firmly believe that this election was stolen by co0rruption. I witnessed it.

    • objectivefactsmatter

      "Unfortunately, all that is irrelevant"

      It was irrelevant to the election and to the "voters." It's very relevant to our future.

  • Johnconrad

    The Corrupt media played a role, but give the Romney campaign its share of the credit.

    Given the reality of the votes needed, Rubio had to be the VP nominee.

    • Mary Sue

      the only problem with that is I heard Rubio is technically ineligible for VP.

      • JacksonPearson

        Sen. Marco Rubio does not qualify as an Article II, "natural born citizen" to be able to run for pres, or VP.

  • bob e

    Love reading yor stuff Mr Dan.

  • Patricia Leath

    The fraud in this election was widespread, the evidence is there and no one gives a damn. Vote in Russia baby-cakes, at least it counts for something.

  • κατεργάζομαι

    perhaps; but,…….Gun sales SOAR……..lock & load.