Monday 12 January 2009

US consumer confidence crashes

US consumers have just had a collective nervous breakdown. In December, the University of Michigan confidence index hit a 28 year low. You have to go back to the depths of the Reagan recession to find a lower reading of the index.

4 comments:

Anonymous said...

So no quick post-Obama rebound in America?

Anonymous said...

That adds up to one nasty-assed downturn.

idle said...

You mean the Carter recession. It took Ron a year or two to turn things round, so the low point was reached whilst he was in the White House.

No swift 20-year upturn now, I fear.

Thai said...

Are you still promoting inflation? I have been away from your blog for a while.