tag:blogger.com,1999:blog-3310402797768514899.post8448326176073891137..comments2023-11-05T03:39:11.575-05:00Comments on The Technical Take: What's Wrong With Consumer Confidence?Guy M. Lernerhttp://www.blogger.com/profile/09198161809721597881noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-3310402797768514899.post-6001153670383919392009-11-04T21:21:00.207-05:002009-11-04T21:21:00.207-05:00We've been here before, although government is...We've been here before, although government is more polarized and disconnected now than it was then IMO. I'm reminded of Jimmy Carter's speech in 1979: He spoke of a "crisis of confidence. It is a crisis that strikes at the very heart and soul and spirit of our national will. We can see this crisis in the growing doubt about the meaning of our own lives and in the loss of a unity of purpose for our nation. The erosion of our confidence in the future is threatening to destroy the social and the political fabric of America".<br /><br />We were in a secular bear market then, as we are now. Secular bears have a way of wearing the majority of the populace down.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-59533417347958923642009-11-04T05:40:22.852-05:002009-11-04T05:40:22.852-05:00Hello Guy
I don’t think that the source of this an...Hello Guy<br />I don’t think that the source of this angst really matters only whether or not it is long lasting like the angst resulting from the 1929 depression. <br />There is always a myriad of triggers and solutions that can be reviewed,implemented and argued over. It is just a matter of time for the crowd to heal from this crisis. <br />America is resilient and has faced many a obstacles before and made our way past them. So it is just a matter how much time it takes to put this behind us now.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-45756822646992762592009-11-04T04:53:37.408-05:002009-11-04T04:53:37.408-05:00I don't agree with you. The thing that is wron...I don't agree with you. The thing that is wrong is that the public is asked to make sacrifices in terms of accepting high unemployment and being saddled with trillion dollar deficits for years to come, whilst the CEOs who created this mess in the 1st place are rewarded with multi-million dollar bonuses using tax payer money.<br /><br />Here's the situation:<br /><br />(a) people are afraid for their jobs<br /><br />(b) credit is still tight, foreclosures running high, uncertainty still reigns in Main Street<br /><br />(c) the issue of too large to fail banks have not been resolved<br /><br />(d) people face prospect of increased taxers both near and long term<br /><br />In short, people feel betrayed.E-Jay Nghttps://www.blogger.com/profile/12262126020980281773noreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-85377780458502498392009-11-03T22:13:42.715-05:002009-11-03T22:13:42.715-05:00I can't stand CNBC anymore. Between that blath...I can't stand CNBC anymore. Between that blathering idiot who whines and cries anytime someone disagrees with him (Steve Liesman) to his learning disabled step brother (Dennis Kneale) and Beaker lookalike. <br /><br />Kneale won a Pulitzer once, which truly embodies the phrase "Past performance is not indicative of future results" considering how much noise he adds to the signal. <br /><br />Try Bloomberg instead. You'll be amazed. Instead of stopping your work 10 times a day to ask yourself,"What did those retards just say?!" You'll actually get some useful info.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-80697221225874171092009-11-03T19:41:56.996-05:002009-11-03T19:41:56.996-05:00Hi, I'm a reader from Singapore;
I find the e...Hi, I'm a reader from Singapore; <br />I find the emotional force behind this post interesting, given your posts have generally been empirical in nature. Along the same line is this excellent bit of citizen journalism on Naked Cap - http://www.nakedcapitalism.com/2009/11/debt-stress-in-middle-class-america-revisited.html<br /><br />I agree with you (and Buffett) that there is a lot of latent strength in the American people and values that is somehow not being tapped. I wonder how it will break out. Will it really be a social revolution -- as the rhetoric on many blogposts seem to be tending toward? <br /><br />Separately, I just want to say that I really appreciate your analysis and consider it extremely 'value add', more so than a lot of professional sell-side research.Maohttps://www.blogger.com/profile/12149398072487405869noreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-3202144444351612442009-11-03T19:06:44.121-05:002009-11-03T19:06:44.121-05:00Good article. I agree on all points.
The VietNam...Good article. I agree on all points.<br /><br />The VietNam war and Watergate were turning points in which the government lost the trust and respect of many Americans.<br /><br />Ever since then, it seems, all the government has done is pander to public opinion and "try to make things better." It's as if the elected leaders are afraid to ask for shared sacrifice, for fear of being thrown out of office.<br /><br />I have little doubt that there will be a second stimulus, and a third, and a fourth...Johnny G.noreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-44163065747285052862009-11-03T17:31:35.239-05:002009-11-03T17:31:35.239-05:00Dave N.
I understand that folks are hurting; I se...Dave N.<br /><br />I understand that folks are hurting; I see this everyday in my "day" job; I understand it is hard to be confident when there are no jobs. My point of the article really was to say and I hope it was clear: the time has passed for the President to rally the people; the time to suck it up was 12 months ago and let the recession take hold; 12 months later all this money was spent and we have nothing to show for it except a statistical recovery and hope that the wheels don't come off the system again.Guy M. Lernerhttps://www.blogger.com/profile/09198161809721597881noreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-56553963980629056972009-11-03T17:15:24.631-05:002009-11-03T17:15:24.631-05:00One big problem is is that government 'eats it...One big problem is is that government 'eats it's own dog food', which is that it believes the numbers it puts out are only 'slightly' massaged.<br /><br />A key one is unemployment. Unemployment is supposedly 9.8%. Actual unemployment is bumping up against 20%. That's one in five people out of work, double the number the government thinks are out of work.<br /><br />Kinda hard for a consumer to be confident when everybody knows somebody who's having a hard time making ends meet because there's no work for them!<br /><br /><br />The problem with CNBS is that they (along with the government and the financial sector), are confusing the stock market with the economy.<br /><br />They think the tail wags the dog.Dave Narbyhttps://www.blogger.com/profile/10773693145577366704noreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-64543448943372663052009-11-03T17:04:53.540-05:002009-11-03T17:04:53.540-05:00Sorry for my bad english
"It's my feelin...Sorry for my bad english<br /><br />"It's my feeling that Obama..."daciannoreply@blogger.comtag:blogger.com,1999:blog-3310402797768514899.post-31417968480649024532009-11-03T17:03:57.647-05:002009-11-03T17:03:57.647-05:00I'm almost certain (even if I believe Obama is...I'm almost certain (even if I believe Obama is a very fine politician and he might realise what America needs) they are planning another trillion in stimulus. This will be a real disaster in the LT. It's might feeling that Obama is too weak or a secondary person there...<br /><br />Btw, nice post. I do agree with you.daciannoreply@blogger.com