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Message: <blockquote data-quote="moreluck" data-source="post: 893460" data-attributes="member: 1246">Re: Obamanomics[h=2]<a href="http://weaselzippers.us/2011/10/25/obamanomics-consumer-confidence-unexpectedly-plunges-in-october/" target="_blank">Obamanomics: Consumer Confidence “Unexpectedly” Plunges In October, Hits Two-Year Low…</a>[/h]<img src="http://weaselzippers.us/wp-content/uploads/2011/10/Screen-shot-2011-10-25-at-10.53.43-AM-550x130.png" alt="" class="fr-fic fr-dii fr-draggable " style="" />Bloomberg is back to pushing the “<a href="http://weaselzippers.us/2011/09/15/obamanomics-jobless-claims-unexpectedly-rise-to-highest-level-since-june/" target="_blank">unexpectedly</a>” nonsense.<a href="http://www.businessweek.com/news/2011-10-25/u-s-consumer-confidence-unexpectedly-drops-to-two-year-low.html" target="_blank">Oct. 25 (Bloomberg)</a> — Consumer confidence unexpectedly slumped in October to the lowest level since March 2009, when the U.S. economy was in a recession, as Americans’ outlooks for employment and incomes soured. The Conference Board’s sentiment index decreased to 39.8 from a revised 46.4 reading in September, figures from the New York-based private research group showed today. This month’s reading was less than the most pessimistic forecast in a Bloomberg News survey in which the median projection was 46. Limited job availability, deteriorating home values and the threat of a European debt default are weighing on sentiment. A drop in optimism helps explain concern among some companies like Levi Strauss & Co. that spending will falter during the holiday shopping season. “Dysfunctional labor and housing markets and the turmoil in Europe all are drags on confidence,” Robert Dye, chief economist at Comerica Inc. in Dallas, said before the report. “Consumers are fundamentally constrained, and consumer spending won’t be leading the economy forward.” </blockquote>

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