Economics Consumer confidence hits a 5 year high. - Page 3

Direckshun · 10-12-2012, 10:10 AM

I'd say we're getting there.

Finally.

http://www.cnbc.com/id/49388260

Consumer Sentiment Rises Unexpectedly to 5-Year High
By: Reuters
Published: Friday, 12 Oct 2012 | 10:03 AM ET

U.S. consumer sentiment unexpectedly rose to its highest level in five years in October as consumers became more optimistic about the overall economy in a possible boost to President Obama's reelection hopes next month.

The Thomson Reuters/University of Michigan's preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.

It was well above the median forecast for a slight decline to 78 among economists polled by Reuters.

The new buoyancy among consumers comes shortly after the U.S. unemployment rate tumbled to its lowest level in nearly four years in September as more people returned to the workforce and found jobs than economist had predicted.

"We are getting some quite interesting signals from consumer sentiment and employment data — both (the) unemployment rate and initial claims — that there has been some quite significant improvement in the economy," said David Sloan, an economist at 4Cast in New York.

U.S. stocks were higher after the news. The S&P 500 [.SPX 1434.59 1.75 (+0.12%) ] climbed 0.2 percent in morning trade but pared some of its earlier gains as equities struggled to make headway after recently climbing to highs not seen in five years. Meanwhile, U.S. Treasury debt prices trimmed their gains. (Read more: Biggest Debtor Nations)

The unexpected jump in consumer sentiment in October came as consumers felt better about the economy in both the long and the short term, the compilers of the Thomson Reuters/University of Michigan survey said.

"What changed was how they (consumers) evaluated economic conditions," survey director Richard Curtin said in a statement. "Economic conditions during the year ahead were expected to be 'good' by more consumers, and more consumers expected 'good' economic times over the next five years."

The survey's gauge of consumer expectations jumped to 79.5 from 73.5, well above an expected reading of 74. Expectations were at their highest since July 2007.

The survey's barometer of current economic conditions rose to 88.6 from 85.7 and was above a forecast of 86.

A separate report showed U.S. producer prices rose more than expected in September as the cost of gasoline surged, but underlying inflation pressures were muted in a sign the Federal Reserve has room to carry out its new monetary stimulus program.

The Labor Department said on Friday its seasonally adjusted Producer Price Index increased 1.1 percent last month. Economists polled by Reuters had expected prices at farms, factories and refineries to rise 0.7 percent after climbing 1.7 percent in August.

KCTitus · 10-12-2012, 06:20 PM

Quote:

Originally Posted by Direckshun

I'd say we're getting there.

Finally.

I agree...rare to agree with Direckshun, but I do. It does appear that the kids in Washington will be voted out and adults will take over and get serious about our problems. I have been holding back on purchasing many things..primarily a new car, or two, and I will by purchasing if Obama is voted out. If not, I'll be buying ammo, a couple more guns, silver and some MRE's.

Either way, Im going to be buying something.

**Dallas Chief** · 10-12-2012, 06:23 PM

Quote:

Originally Posted by KCTitus

I agree...rare to agree with Direckshun, but I do. It does appear that the kids in Washington will be voted out and adults will take over and get serious about our problems. I have been holding back on purchasing many things..primarily a new car, or two, and I will by purchasing if Obama is voted out. If not, I'll be buying ammo, a couple more guns, silver and some MRE's.

Either way, Im going to be buying something.

Blaze of Glory. I like it!

KCTitus · 10-12-2012, 06:29 PM

Quote:

Originally Posted by Dallas Chief

Blaze of Glory. I like it!

Truth be told, I have already started...Im getting in on the ammo while prices are 'cheap' prior to the election. If it's not needed, Ive got a lot for target practice, but 600 rounds last week to add to my existing stash is fine. Im over 1000 in 9mm, and about 800 in .40...and 400 12 gauge.

If anything, it's good for barter when the economy crashes. Ive got food and water purification set up. If Obama's elected, we dont survive 2016.

**Dallas Chief** · 10-12-2012, 06:34 PM

Quote:

Originally Posted by KCTitus

Truth be told, I have already started...Im getting in on the ammo while prices are 'cheap' prior to the election. If it's not needed, Ive got a lot for target practice, but 600 rounds last week to add to my existing stash is fine. Im over 1000 in 9mm, and about 800 in .40...and 400 12 gauge.

If anything, it's good for barter when the economy crashes. Ive got food and water purification set up. If Obama's elected, we dont survive 2016.

I'm not quite at the level you are but have bought and kept up my stash of .223, .45, and 9mm, to the point where I have no place else to put it. Let's hope your 2016 prediction doesn't come to pass. Even when O gets reelected I won't worry about the country making it through four more years. I just don't believe he will be given enough leash to do what he really wants.

KCTitus · 10-12-2012, 06:39 PM

Quote:

Originally Posted by Dallas Chief

I'm not quite at the level you are but have bought and kept up my stash of .223, .45, and 9mm, to the point where I have no place else to put it. Let's hope your 2016 prediction doesn't come to pass. Even when O gets reelected I won't worry about the country making it through four more years. I just don't believe he will be given enough leash to do what he really wants.

I hope it doesnt either, but the fed cannot keep printing money and buying our federal debt. At some point the treasury auction will fail and then we'll see hyperinflation like never before. Doomsday scenario means that the dollar no longer becomes a worthwhile currency and society breaks down. I dont want it to happen, but it's the path we're on.

Im probably going to buy/build an AR, and Im looking to get .223 as well. I have 4 close friends that have built up as well and we'll all get together should the SHTF. Im bursting at the seams and Im stashing ammo everywhere at this point.

I do worry about the country...I worry about panic, and I only want to protect my family and friends. In the worst case, I'd only defend my family...if that means killing, so be it.

Gary · 10-12-2012, 06:40 PM

You're all way way off here...we won't make it out of this December 21st.

**Dallas Chief** · 10-12-2012, 06:43 PM

Quote:

Originally Posted by KCTitus

I hope it doesnt either, but the fed cannot keep printing money and buying our federal debt. At some point the treasury auction will fail and then we'll see hyperinflation like never before. Doomsday scenario means that the dollar no longer becomes a worthwhile currency and society breaks down. I dont want it to happen, but it's the path we're on.

Im probably going to buy/build an AR, and Im looking to get .223 as well. I have 4 close friends that have built up as well and we'll all get together should the SHTF. Im bursting at the seams and Im stashing ammo everywhere at this point.

I do worry about the country...I worry about panic, and I only want to protect my family and friends. In the worst case, I'd only defend my family...if that means killing, so be it.

I hear ya. Godspeed brother.

**Dallas Chief** · 10-12-2012, 06:44 PM

Quote:

Originally Posted by Gary

You're all way way off here...we won't make it out of this December 21st.

Hey Bo Peep! Let's not get Titus any more riled up. Please and thank you.

KCTitus · 10-12-2012, 07:06 PM

Quote:

Originally Posted by Gary

You're all way way off here...we won't make it out of this December 21st.

Heh...yeah, I forgot!

**J Diddy** · 10-12-2012, 07:36 PM

Quote:

Originally Posted by Dallas Chief

I know it doesn't make sense, that's why I repeated exactly what you said to Roy. You deserved a little bit of a cock slap. Now take it like a man, pledge!

As far as being stupid, I'm not the one in college 20 years after the fact here, now am I? Had to learn a little bit more before you could take that on did ya? Wasn't quite ready for the big boy school??? Then Pitt State of all places. lofl

I hate to break it to you, but when I said it, it did make sense. That being said I kind of regret it, especially if he's having a hardship. For that I apologize--to him.

To you, however, you're not very bright. You know nothing of my situation but choose to speculate. Simple bit of advice from ol honest Abe: "Better to be silent and thought of as a fool then to speak out and remove all doubt."
Pitt State is a fine school and one I can afford, grad school will be a different story.

stonedstooge · 10-12-2012, 07:54 PM

Quote:

Originally Posted by J Diddy

I hate to break it to you, but when I said it, it did make sense. That being said I kind of regret it, especially if he's having a hardship. For that I apologize--to him.

To you, however, you're not very bright. You know nothing of my situation but choose to speculate. Simple bit of advice from ol honest Abe: "Better to be silent and thought of as a fool then to speak out and remove all doubt."
Pitt State is a fine school and one I can afford, grad school will be a different story.

Is the government covering any of your expenses going back to school? Not trying to be a smartass, but with the huge influx of money from the goverment, I'm sure all kinds of new programs started up. And I don't really have a problem with it if certain criteria are met. Hell I probably would have never went to college if my old man wasn't teaching there and it was basically free.

My ex-brother-in-law went back at an age a little older than you and got his Masters Degree after starting his position with a 2 year technical degree. Had a ton of respect for him as he was still working full-time, but he was fortunate enough to have his company pay his way. Not sure how he did it with a wife and 2 young kids. I had a hard enough time just working full-time and going to school in my late teens and early twenties for my BA

**J Diddy** · 10-12-2012, 08:13 PM

Quote:

Originally Posted by stonedstooge

Is the government covering any of your expenses going back to school? Not trying to be a smartass, but with the huge influx of money from the goverment, I'm sure all kinds of new programs started up. And I don't really have a problem with it if certain criteria are met. Hell I probably would have never went to college if my old man wasn't teaching there and it was basically free.

My ex-brother-in-law went back at an age a little older than you and got his Masters Degree after starting his position with a 2 year technical degree. Had a ton of respect for him as he was still working full-time, but he was fortunate enough to have his company pay his way. Not sure how he did it with a wife and 2 young kids. I had a hard enough time just working full-time and going to school in my late teens and early twenties for my BA

Yes, I get grants and student loans and work part time. All the mean while having sole custody of my son and not getting crap from help from his momma. I grind it out.

stonedstooge · 10-12-2012, 08:26 PM

Quote:

Originally Posted by J Diddy

Yes, I get grants and student loans and work part time. All the mean while having sole custody of my son and not getting crap from help from his momma. I grind it out.

Good for you. You have my respect for trying to better yourself. Hope it all works out for you

**Saul Good** · 10-12-2012, 08:27 PM

Quote:

Originally Posted by J Diddy

Yes, I get grants and student loans and work part time. All the mean while having sole custody of my son and not getting crap from help from his momma. I grind it out.

Keep fighting the good fight. Good luck to you.

**J Diddy** · 10-12-2012, 08:34 PM

Quote:

Originally Posted by Saul Too

Keep fighting the good fight. Good luck to you.

Quote:

Originally Posted by stonedstooge

Good for you. You have my respect for trying to better yourself. Hope it all works out for you

Thanks guys

10-12-2012, 10:10 AM
Direckshun Black for Palestine Join Date: Oct 2006 Location: Springpatch Casino cash: $26847	Consumer confidence hits a 5 year high. I'd say we're getting there. Finally. http://www.cnbc.com/id/49388260 Consumer Sentiment Rises Unexpectedly to 5-Year High By: Reuters Published: Friday, 12 Oct 2012 \| 10:03 AM ET U.S. consumer sentiment unexpectedly rose to its highest level in five years in October as consumers became more optimistic about the overall economy in a possible boost to President Obama's reelection hopes next month. The Thomson Reuters/University of Michigan's preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday. It was well above the median forecast for a slight decline to 78 among economists polled by Reuters. The new buoyancy among consumers comes shortly after the U.S. unemployment rate tumbled to its lowest level in nearly four years in September as more people returned to the workforce and found jobs than economist had predicted. "We are getting some quite interesting signals from consumer sentiment and employment data — both (the) unemployment rate and initial claims — that there has been some quite significant improvement in the economy," said David Sloan, an economist at 4Cast in New York. U.S. stocks were higher after the news. The S&P 500 [.SPX 1434.59 1.75 (+0.12%) ] climbed 0.2 percent in morning trade but pared some of its earlier gains as equities struggled to make headway after recently climbing to highs not seen in five years. Meanwhile, U.S. Treasury debt prices trimmed their gains. (Read more: Biggest Debtor Nations) The unexpected jump in consumer sentiment in October came as consumers felt better about the economy in both the long and the short term, the compilers of the Thomson Reuters/University of Michigan survey said. "What changed was how they (consumers) evaluated economic conditions," survey director Richard Curtin said in a statement. "Economic conditions during the year ahead were expected to be 'good' by more consumers, and more consumers expected 'good' economic times over the next five years." The survey's gauge of consumer expectations jumped to 79.5 from 73.5, well above an expected reading of 74. Expectations were at their highest since July 2007. The survey's barometer of current economic conditions rose to 88.6 from 85.7 and was above a forecast of 86. A separate report showed U.S. producer prices rose more than expected in September as the cost of gasoline surged, but underlying inflation pressures were muted in a sign the Federal Reserve has room to carry out its new monetary stimulus program. The Labor Department said on Friday its seasonally adjusted Producer Price Index increased 1.1 percent last month. Economists polled by Reuters had expected prices at farms, factories and refineries to rise 0.7 percent after climbing 1.7 percent in August.
Posts: 47,268

10-12-2012, 06:40 PM	#36
Gary The Shepherd Join Date: Feb 2001 Location: Sunny Florida Casino cash: $5085	You're all way way off here...we won't make it out of this December 21st. __________________ The truth is you're the weak and I am the tyranny of evil men. But I'm tryin Ringo...I'm tryin real hard to be the shepherd.
Posts: 692

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