Politicians and mainstream economists are doing their best to boost our confidence, claiming that the economy is in recovery, cherry picking any positive statistics
As we saw in the last Part 49 of this thread, CEO's and Directors are quite negative about the US economy. American consumers are following suit.
According to the ABC News Consumer Comfort Index:
Consumer confidence is on a cold streak (flat and negative), locked in place since the beginning of the year at very near its worst-ever rating – and more than three in four think the economy is stalled or will decline in coming months. The ABC News Consumer Comfort Index stands at -49 on its scale of +100 to -100, in a 2-point range and without significant movement for the past six weeks. It is hovering just 5 points from its all-time low, -54 last January, and is far worse than its long-term average, -13 in 24 years of weekly polls.
A separate, forward-looking measure finds little in the way of optimism for the economy’s future. Just 23 percent think things are getting better and 77 percent say the economy is staying the same or getting worse – a chilling assessment given the very low ratings of current sentiment.
A key indicator from last week’s ABC News/Washington Post poll underscores these persistent negative feelings. Eighty-eight percent (88 %) think that the economy, despite what economists say to the contrary, is still in a recession. And on a more personal note, 53 percent say that based on their experience the economy has not begun to recover.
Walter Derzko, Smart Economy, Toronto