I don't suppose all this talk about endless sacrifice on the alter of deficit reduction might have some effect on consumer confidence do you?

Confidence Building

by digby


So consumer confidence is way down and the market tanked on the news. I don't suppose it might have anything to do with the fact that nearly every elite gasbag in the world is blathering on endlessly that the sky is falling because of the potential, maybe, could be future deficits and telling everyone they are going to have to sacrifice for decades and pull in their belts for years to come? Nah, couldn't be that.

And nothing builds consumer confidence like month after month of 10% unemployment and housing foreclosures. The lazy, drug addicted unemployed are obviously very upbeat and those who are working feel incredible freedom and opportunity in that environment because lord knows that while working people may not be able to leave jobs or start new businesses or get a raise in this environment there's no reason to be gloomy.

It can't be that the rubes see an economy that is moribund at best and a dysfunctional government that is telling them constantly that they are going to have "accept" high unemployment and "pitch in" to fix an economy that was destroyed by wealthy gamblers --- and assume they are well and truly screwed for the foreseeable future.

Cheer up people. The wealthy "producers" are doing fine and that's all you should worry your pretty little heads about. Snap out of it!


Update: Republicans once again block unemployment extension. DOW tanks further. Nothing to see here folks. Everything's just fine.

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