Drudge Retort: The Other Side of the News
Wednesday, April 30, 2014

U.S. consumer confidence dipped in April but remained near a six-year high, while home prices rose in February, suggesting the economy continued to regain momentum after a winter lull. The Conference Board said its index of consumer attitudes dipped to 82.3, the second-highest reading since January 2008, from an upwardly revised 83.9 in March. "Consumers do not foresee the economy, or the labor market, losing the momentum that has been building up over the past several months," said Lynn Franco of the Conference Board.

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Admin's note: Participants in this discussion must follow the site's moderation policy. Profanity will be filtered. Abusive conduct is not allowed.

And I am confident that the DR cons can find a dark cloud in this silver lining.

#1 | Posted by donnerboy at 2014-04-30 09:04 PM | Reply | Flag:

Obviously cooked numbers or a harbinger of total economic collapse.

#2 | Posted by REDIAL at 2014-04-30 10:21 PM | Reply | Flag:

I am confident the Fed will keep buying Treasuries.

#3 | Posted by snoofy at 2014-04-30 11:21 PM | Reply | Flag:

HR 2847, happy July.

#4 | Posted by Federalist at 2014-05-01 12:27 AM | Reply | Flag:

This is good news, at least until you look at the hard data numbers like GDP. What people/consumers are "feeling" is all fine & dandy, but reality slapped those feelings right in the choppers when Q1 GPD#'s of .01% growth were announced.

#5 | Posted by Axxe at 2014-05-01 06:54 AM | Reply | Flag:

Sorry, I should have posted .1% growth.

#6 | Posted by Axxe at 2014-05-01 06:55 AM | Reply | Flag:

.1% growth? Wow. Can we have cake at the party?

#7 | Posted by wisgod at 2014-05-01 08:06 AM | Reply | Flag:

"U.S. Consumer Confidence Near 6-Year High"

Obama's fault.
Grrrrrrrr, snark, sniff, oink, oink.
~ GOPiggy Minder-Blinders

#8 | Posted by Doc_Sarvis at 2014-05-01 08:17 AM | Reply | Flag:

".1% growth? Wow. Can we have cake at the party?"

Never mind the winter which shut down construction sites and prevented businesses from even opening many days, growth will be returning now and you will be saddened by it. As if you really want economic growth or success for your own country.

#9 | Posted by danni at 2014-05-01 08:18 AM | Reply | Flag:

Yes, let's blame Frosty, the Snowman. Next month, we can blame Global whatever. How big is that Book of Excuses you haul around?

#10 | Posted by wisgod at 2014-05-01 08:54 AM | Reply | Flag:

"Yes, let's blame Frosty, the Snowman."

Oh, sure, blame Frosty, the Snowman.
He did this.
He did that.
Really frosts me.
~ Frosty, the Snowman

#11 | Posted by Doc_Sarvis at 2014-05-01 09:07 AM | Reply | Flag:

I want higher wages, lower unemployment, a smaller role for paper shufflers in our society, and prosecution of white collar crime.

Pointing out that we are being persistently lied with Government statistics does not mean that I am trying to sabotage the economy. Those with rudimentary arithmetic skills should recognize this is what occupies much Rethug time and propaganda. A dark cloud continues to loom over Real Estate, whose value is historically linked to wages. Buyer beware.

#12 | Posted by nutcase at 2014-05-01 09:08 AM | Reply | Flag:

consumers do not foresee the economy, or the labor market, losing the momentum that has been building up over the past several months," Lynn Franco,

oh christ, haven't even had my coffee yet and I wake to this malarky.

Lynn Franco. Let's dissect this nonsense.

Mortgage Aps at the LOWEST since Lehman crashed.
Go ahead and try to apply for a mortgage. They scrutinize 700 ficos while
banks hoard all the cash that was supposed to trickle down to Main St.-
at the Fed's request!
BANKS ARE HOARDING CASH. PERIOD.
US Savings rate at LOWEST since the crash.
Price of Beef and other foods have skyrocketed. That is what hits
the little guy in the pocket- gas and food. But yet, the rcoket surgeons
that calculate the inflation index magically deliciously do not include
those very key elements in their quasi-fantasy formula.
BLS wipes out the real jobless and unemployed number through the same
type formula.
Losing momentum? where the F are the jobs? mcdonalds?
I want a separate statistic- The Auntiesocial Labor Statistic of jobs
created that pay 24K- which is still starving mind you, and higher.

How the hell can part time jobs be counted as jobs? They deserve their own category Mr. Three Card Monte.

Insert mile long rant here below.

#13 | Posted by AuntieSocial at 2014-05-01 09:20 AM | Reply | Flag:

stolen from Dave The Wave's nemisis...

#1 The homeownership rate in the United States has dropped to the lowest level in 19 years.

#2 Consumer spending for durable goods has dropped by 3.23 percent since November. This is a clear sign that an economic slowdown is ahead.

#3 Major retailers are closing stores at the fastest pace that we have seen since the collapse of Lehman Brothers.

#4 According to the Bureau of Labor Statistics, 20 percent of all families in the United States do not have a single member that is employed. That means that one out of every five families in the entire country is completely unemployed.

#5 There are 1.3 million fewer jobs in the U.S. economy than when the last recession began in December 2007. Meanwhile, our population has continued to grow steadily since that time.

#6 According to a new report from the National Employment Law Project, the quality of the jobs that have been "created" since the end of the last recession does not match the quality of the jobs lost during the last recession...

Lower-wage industries constituted 22 percent of recession losses, but 44 percent of recovery growth.
Mid-wage industries constituted 37 percent of recession losses, but only 26 percent of recovery growth.
Higher-wage industries constituted 41 percent of recession losses, and 30 percent of recovery growth.
#7 After adjusting for inflation, men who work full-time in America today make less money than men who worked full-time in America 40 years ago.

#8 It is hard to believe, but 62 percent of all Americans make $20 or less an hour at this point.

#9 Nine of the top ten occupations in the U.S. pay an average wage of less than $35,000 a year.

#10 The middle class in Canada now makes more money than the middle class in the United States does.

#11 According to one recent study, 40 percent of all Americans could not come up with $2000 right now even if there was a major emergency.

#12 Less than one out of every four Americans has enough money put away to cover six months of expenses if there was a job loss or major emergency.

#13 An astounding 56 percent of all Americans have subprime credit in 2014.

#14 As I wrote about the other day, there are now 49 million Americans that are dealing with food insecurity.

#15 Ten years ago, the number of women in the U.S. that had jobs outnumbered the number of women in the U.S. on food stamps by more than a 2 to 1 margin. But now the number of women in the U.S. on food stamps actually exceeds the number of women that have jobs.

#16 69 percent of the federal budget is spent either on entitlements or on welfare programs.

#17 The number of Americans receiving benefits from the federal government each month exceeds the number of full-time workers in the private sector by more than 60 million.

#14 | Posted by AuntieSocial at 2014-05-01 09:37 AM | Reply | Flag:

AntiSocial I was thinking of that list too....

Also just to throw fuel on the fire.....

Jobless claims jump for second straight week
www.marketwatch.com

I bet they aren't too confident.

I suppose with the thawing temperatures they decided to let people go...

#15 | Posted by AndreaMackris at 2014-05-01 09:48 AM | Reply | Flag:

And I am confident that the DR cons can find a dark cloud in this silver lining.

#1 | Posted by donnerboy

I guess you don't keep up with the news. Doesn't surprise me.

www.csmonitor.com

#16 | Posted by Sniper at 2014-05-01 10:08 AM | Reply | Flag:

U.S. Consumer Confidence Near 6-Year High"

Obama's fault.
Grrrrrrrr, snark, sniff, oink, oink.
~ GOPiggy Minder-Blinders

#8 | Posted by Doc_Sarvis

Go to the link I posted on # 16 dok

Obama's fault.
Grrrrrrrr, snark, sniff, oink, oink.

#17 | Posted by Sniper at 2014-05-01 10:10 AM | Reply | Flag:

Oh, sure, blame Frosty, the Snowman.
He did this.
He did that.
Really frosts me.
~ Frosty, the Snowman

#11 | Posted by Doc_Sarvis

Get off the bottle dok............... the left is saying that.

#18 | Posted by Sniper at 2014-05-01 10:11 AM | Reply | Flag:

Wisgod is part of "the left"?
Who could've known?
LOL

#19 | Posted by Doc_Sarvis at 2014-05-01 10:28 AM | Reply | Flag:

Dok......... WTF are we going to do with you? The current administration has been blaming the long, cold (global warming) winter for all our economic troubles. Bad housing sales, bad job creation, etc.

Do try to keep up with the news around us.

#20 | Posted by Sniper at 2014-05-01 10:46 AM | Reply | Flag:

"Last year, it was the Obama tax increases that bit into the growth of GDP, we were told.

In 2012, it was sequester that retarded GDP.

In 2011, as we were preparing for The Summer of Recovery That Wasn't, it was the Fukushima nuclear disaster, the tsunami, and Obama's war of choice in Libya that was at fault for slowing GDP growth.

Perhaps now it's time to face the obvious conclusion: A government that can't budget can't govern."

#21 | Posted by Sniper at 2014-05-01 10:54 AM | Reply | Flag:

The consumer at present has reached a point of stability, but at what price. The price is a high public debt along with a large balance on the Federal Reserve's balance sheet. In all likelihood we are in the eye of the storm---some tranquility but an uneasy calm. Storm clouds are gathering on the horizon and the fat lady has not even yet put on her dress to sing. Get out your prescription bottle; more pain is on its' way.

#22 | Posted by matsop at 2014-05-01 11:03 AM | Reply | Flag:

Dok......... WTF are we going to do with you?
#20 | Posted by Sniper

That's not really your problem, since I've no intention of schlepping out to Bunkerville, NV.

#23 | Posted by Doc_Sarvis at 2014-05-01 11:22 AM | Reply | Flag: | Funny: 1

Can't wait for Republicans to fix all these problems by shutting down the government again.

#24 | Posted by snoofy at 2014-05-01 01:23 PM | Reply | Flag:

That's not really your problem, since I've no intention of schlepping out to Bunkerville, NV.

#23 | Posted by Doc_Sarvis

WTF does that have to do with this thread and my posts? You need to phone a friend.

#25 | Posted by Sniper at 2014-05-01 01:52 PM | Reply | Flag:

"Consumers do not foresee the economy, or the labor market, losing the momentum that has been building up over the past several months," said Lynn Franco of the Conference Board.

Uhh, don't look now, but I think Lynn Franco is calling consumers Stupid.

#26 | Posted by Marty at 2014-05-01 02:50 PM | Reply | Flag:

NFL unless one of the economists here can explain why the yield on 10 yr treasury is headed lower. Down 42 bps since jan 1 in the face of the fed tapering monthly bond purchases...

Any takers?

#27 | Posted by Bunker112 at 2014-05-01 03:54 PM | Reply | Flag:

10 yr treasury broke below its 50 DMA today. Why would that be if things are so good?

#28 | Posted by bunker112 at 2014-05-01 03:56 PM | Reply | Flag:

10 yr treasury broke below its 50 DMA today. Why would that be if things are so good?

#28 | Posted by bunker112 at 2014-05-01 03:56 PM | Reply |

Good point. People move to safety when they don't see the potential of positive returns in other investment arenas. We'll ultimately see who has it right: the bond market or the stock market.

#29 | Posted by matsop at 2014-05-01 04:54 PM | Reply | Flag:

Consumer confidence is as fake a yardstick as growth. Both are dependent on oil that is running out.

The capitalist scam is over.

Deal with it.

#30 | Posted by Shawn at 2014-05-01 05:41 PM | Reply | Flag:

30 LOL no the obama recovery stinks, as a direct result of...barack obama.

Deal with it!

#31 | Posted by DavetheWave at 2014-05-01 06:12 PM | Reply | Flag:

stolen from Dave The Wave's nemisis... I do review it periodically...they do have some good articles. Emphasis on 'some'

If you followed their advise, how much of the market's gain would you have since 3/2009?

ZERO

#32 | Posted by DavetheWave at 2014-05-01 06:16 PM | Reply | Flag:

All due to Rick "Governor Goodhair" Perry, of course.

#33 | Posted by e1g1 at 2014-05-02 01:03 PM | Reply | Flag:

Sniper can post 30 more non sequitur's, but the headline is still accurate.

#34 | Posted by e1g1 at 2014-05-02 01:05 PM | Reply | Flag:

So I guess this week it is Obama's economy and not Bush's again?

#35 | Posted by goatman at 2014-05-02 01:08 PM | Reply | Flag:

Could be that after 5+ years of this administrarion the US consumer has reset the bar pretty low as they barely remember what a good economy is due to the lies and distortions put forth by the dems and their compliant media.

#36 | Posted by MSgt at 2014-05-02 01:50 PM | Reply | Flag:

April Jobs Report: 806,000 Americans Give Up Looking For Work

Read more: http://
dailycaller.com#ixzz30a8TuR5M

#37 | Posted by MSgt at 2014-05-02 01:51 PM | Reply | Flag:

Of course this "recovery" stinks----and if you think it's bad now, wait until the next downturn which is a train at the front of the light at the end of the tunnel. It's only a matter of time. The participation rate continues to drop along with the more important employment/population index. Then you have that sticky little thing called the "birth/death" model which you pick jobs out of a hat that probably don't exist to inflate the numbers.

#38 | Posted by matsop at 2014-05-02 02:08 PM | Reply | Flag:

Good god you people are sad.

Why don't you pull yourself up by your bootstraps instead of incessantly blaming Obama for your miserable existence?

One thing in all this is for sure, it aint going to happen if all you do is spend your day whining on the internet.

#39 | Posted by ChiefTutMoses at 2014-05-02 02:34 PM | Reply | Flag:

Why don't you pull yourself up by your bootstraps instead of incessantly blaming Obama for your miserable existence?

#39 | Posted by ChiefTutMoses at 2014-05-02 02:34 PM | Reply

I'm sure most of us have pulled ourselves up by our bootstraps----remember, most of us are conservatives and individualists. But being the compassionate conservatives we are, we see the tremendous devastation caused by this pretender-in-chief and his supporters. Of course, we warned about "hopey and changey" but Oh nooooo, you along with others wouldn't listen.

#40 | Posted by matsop at 2014-05-02 02:45 PM | Reply | Flag:

"most of us are conservatives and individualists"

Is that why you are so comfortable being shoehorned into a focus group created, marketing department hyped sales bucket you call "conservatism"?
Let me clue you in pal ------ slavish devotion to a political party and or dogmatic ideology is not even remotely "individualistic".

#41 | Posted by ChiefTutMoses at 2014-05-02 03:22 PM | Reply | Flag:

"Of course, we warned about "hopey and changey""

Umm, disappointment is directly relative to expectation.
With that said --- you must have had really high expectations for Obama.

Me, not so much. Obama looked to me like another Bush, just with darker skin and a mastery of the English language.
Maybe that is why I am doing great and you, obviously, are doing so poorly. May I suggest you do less complaining and more working towards bettering yourself. That way you won't be totally dependent on and or victimized by whose ass sits in the oval office.

#42 | Posted by ChiefTutMoses at 2014-05-02 03:28 PM | Reply | Flag:

Sniper can post 30 more non sequitur's, but the headline is still accurate.

#34 | Posted by e1g1

Yit is........... Just shows you how stupid some people can get.

#43 | Posted by Sniper at 2014-05-02 07:46 PM | Reply | Flag:

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