US Consumer Confidence at All Time LowA malestrom of money and credit, consumer credit bubble soon to break, ever increasing losses, issues with price fluctuations and currency adjustments, waiting for the ETF debacle to happen
"The Conference Board's consumer confidence index for June came in at an abysmal 50.4. This reading is down 13.25% from May's 58.1, is less than half of last June's 103.9 and is the lowest reading in 16 years. The "experts" were expecting 56.5. And then there is the index of consumers' expectations for the future, which hit an all-time low, declining 13.31% to 41.0 in June from 47.3 in May.
Seventy percent of our economy is driven by consumer spending. This simple set of facts tells the whole story. It is a certifiable disaster in the making. Next, let's not forget the hundreds of billions in yearly home equity extractions that have all but completely dried up. Add in the next bubble to break, consumer credit, where people with no savings have lived paycheck to stagnant paycheck amid 12.625% inflation, thereby forcing them to exhaust available lines of credit just to keep from going under, and you move beyond disaster into a nightmarish, catastrophic, systemic breakdown of epic proportions worldwide..."
http://www.theinternationalforecaster.com/International_Forecaster_Weekly/Consumer_Confidence_At_All_Time_Low