Consumer Sentiment: Americans See Better Days Ahead

[Scurrilous]

<snip>

"The U.S. may not be generating the "white-hot" fire associated with torrid job markets like Australia's, but it may be showing some smoke. Consumer sentiment unexpectedly jumped 2.6 points to 74.2 in December (preliminary) -- a six-month high. And the current economic conditions component rose to its highest level in about three years.

A Bloomberg survey had forecast sentiment to rise to 72 in December from 71.6 in November. The index was 67.7 in October and 68.2 in September. At the start of the recent recession in December 2007, it was 88.9.

Richard Curtin, director of surveys for the Thomson Reuters/University of Michigan Surveys of Consumers, said Americans' expectation that the Bush-era income tax cuts would be extended is showing up in the data.

"While the recently negotiated tax agreement . . .occurred too late to have much impact on the data, a widespread expectation among consumers that the Bush tax cuts would be extended existed," Curtin said in a statement, Reuters reported Friday."

See full article from DailyFinance: http://srph.it/ff1KLZ

[Newest Reality]

1. Oh boy ...

I wonder if I can salvage the keyboard. My coffee came streaming out my nose like brown snot rockets.

Hoo! Consumer sentiment will save the day, I reckon.

[bushisanidiot]

2. This is good news. And I am amazed that someone on DU would unrec this.

some here hate the president so much, that they want him to fail as much as the republicans do.

[gratuitous]

3. There's a difference

I fully support President Obama, and want his administration to be a success. However, the misguided continuing giveaway to the affluent needs to fail, and fail spectacularly. We're still paying for two wars and occupations, and those don't come cheap, especially with all the private contractors the government is supporting with cost-plus contracts and other corporate welfare. It's time to stop or at least slow the gravy train and begin paying for this enormous party the government has thrown for the wealthy these last 10 years. And while it's a tragedy of the first water that Paris Hilton might have to pay an extra three cents in taxes for every dollar she "earns" above $250,000 each year, that's part of the price for the society that makes her fabulous wealth possible.

[Scurrilous]

4. Yep. n/t