Page 1 of 5 123 ... LastLast
Results 1 to 10 of 46
Thanks Tree23Thanks

Thread: Consumer Confidence Rose SHARPLY After Obama's Election In 2009

  1. #1
    Radical Centrist BigLeRoy's Avatar
    Joined
    Jan 2016
    Posts
    19,199
    Thanks
    16821

    From
    Colorado

    Consumer Confidence Rose SHARPLY After Obama's Election In 2009

    I would make this point in a different thread but am, alas, not allowed to.

    A certain poster in that other thread made the false claim that consumer confidence in America plummeted after the election of Barack Obama.

    Such falsehoods MUST be exposed, if truth is to have ANY meaning anymore in America.

    Consumer confidence DID plummet as a consequence of the Great Recession, of course. It was, after all, the worst economic SHOCK since the Great Depression.

    But consumer confidence recovered SHARPLY in early 2009, and ESPECIALLY after the passage of ARRA. Which is exactly what I have been trying to tell this particular poster over and over and over and over again.

    To see for yourself, click on the link, and set the graph to go back ten years, so you can SEE what was transpiring in early 2009:

    United States Consumer Sentiment | 1952-2017 | Data | Chart | Calendar

    Yogi Berra: You can observe a lot, just by looking.
    Thanks from NightSwimmer and Friday13

  2. #2
    Southern Strategy Liberal OldGaffer's Avatar
    Joined
    Jul 2013
    Posts
    29,817
    Thanks
    31999

    From
    Nashville, TN
    They will never do that, you know that, they do not care if you are correct or not, they are just flame baiting you because they can. and they like it.
    Thanks from Friday13

  3. #3
    Veteran Member bajisima's Avatar
    Joined
    Mar 2012
    Posts
    36,058
    Thanks
    21387

    From
    New Hampshire
    I just saw this morning consumer confidence is at its highest in over 15 years and that construction employment is the highest in over 14 years. That brings in back to almost before GW, Clinton levels.

    Consumer confidence hits 15-year high - MarketWatch
    US created 235,000 jobs in Feb, vs 190,000 expected
    Thanks from BigLeRoy

  4. #4
    Southern Strategy Liberal OldGaffer's Avatar
    Joined
    Jul 2013
    Posts
    29,817
    Thanks
    31999

    From
    Nashville, TN
    Quote Originally Posted by bajisima View Post
    I just saw this morning consumer confidence is at its highest in over 15 years and that construction employment is the highest in over 14 years. That brings in back to almost before GW, Clinton levels.

    Consumer confidence hits 15-year high - MarketWatch
    US created 235,000 jobs in Feb, vs 190,000 expected
    I guess it is nice to be left with a Democratic economy like Bush Junior and Trump and not a failed Republican economy like Clinton and Obama inherited
    Thanks from BigLeRoy, NightSwimmer and Friday13

  5. #5
    Veteran Member bajisima's Avatar
    Joined
    Mar 2012
    Posts
    36,058
    Thanks
    21387

    From
    New Hampshire
    Quote Originally Posted by OldGaffer View Post
    I guess it is nice to be left with a Democratic economy like Bush Junior and Trump and not a failed Republican economy like Clinton and Obama inherited
    Will be interesting to check back in a year or two. Heard a pundit the other day claim that blue collar factory jobs will come back and really pick up but white collar work will diminish under Trump. Cited something to do with the reduction in visa programs.

  6. #6
    Thought Provocateur NightSwimmer's Avatar
    Joined
    Jun 2014
    Posts
    28,015
    Thanks
    26168

    From
    United States
    Quote Originally Posted by bajisima View Post
    Will be interesting to check back in a year or two. Heard a pundit the other day claim that blue collar factory jobs will come back and really pick up but white collar work will diminish under Trump. Cited something to do with the reduction in visa programs.
    I expect a huge market bubble motivated by lax regulation and tax cuts for the wealthy -- followed inevitably by yet another crash.
    Thanks from BigLeRoy, OldGaffer and Friday13

  7. #7
    Veteran Member bajisima's Avatar
    Joined
    Mar 2012
    Posts
    36,058
    Thanks
    21387

    From
    New Hampshire
    Quote Originally Posted by NightSwimmer View Post
    I expect a huge market bubble motivated by lax regulation and tax cuts for the wealthy -- followed inevitably by yet another crash.
    Statistically another recession should be around within the next 2 years or so. How bad it will be is the question.

  8. #8
    Established Member
    Joined
    Apr 2015
    Posts
    5,294
    Thanks
    983

    From
    Banned
    Quote Originally Posted by BigLeRoy View Post
    I would make this point in a different thread but am, alas, not allowed to.

    A certain poster in that other thread made the false claim that consumer confidence in America plummeted after the election of Barack Obama.

    Such falsehoods MUST be exposed, if truth is to have ANY meaning anymore in America.

    Consumer confidence DID plummet as a consequence of the Great Recession, of course. It was, after all, the worst economic SHOCK since the Great Depression.

    But consumer confidence recovered SHARPLY in early 2009, and ESPECIALLY after the passage of ARRA. Which is exactly what I have been trying to tell this particular poster over and over and over and over again.

    To see for yourself, click on the link, and set the graph to go back ten years, so you can SEE what was transpiring in early 2009:

    United States Consumer Sentiment | 1952-2017 | Data | Chart | Calendar

    Yogi Berra: You can observe a lot, just by looking.
    You aren't a good student of history. Barack Obama was elected President in November of 2008, and consumer confidence immediately tanked. And economists were already called for recovery for the second half of 2009.

    Conference Board's consumer confidence index at all-time low - Dec. 30, 2008

    Consumer confidence index at all-time low
    Conference Board's measure sinks amid dismal job market and credit crunch.

    By Julianne Pepitone, CNNMoney.com contributing writer
    Last Updated: December 30, 2008: 10:53 AM ET



    NEW YORK (CNNMoney.com) --
    A key measure of consumer confidence fell to an all-time low in December amid a dismal job market and uncertain outlook for the new year.

    2009 outlook

    "The overall economic outlook remains quite dismal for the first half of 2009, and only a modest recovery is expected in the second half," Franco said in the statement.

  9. #9
    Radical Centrist BigLeRoy's Avatar
    Joined
    Jan 2016
    Posts
    19,199
    Thanks
    16821

    From
    Colorado
    Quote Originally Posted by Libertine View Post
    You aren't a good student of history. Barack Obama was elected President in November of 2008, and consumer confidence immediately tanked. And economists were already called for recovery for the second half of 2009.

    Conference Board's consumer confidence index at all-time low - Dec. 30, 2008

    Consumer confidence index at all-time low
    Conference Board's measure sinks amid dismal job market and credit crunch.

    By Julianne Pepitone, CNNMoney.com contributing writer
    Last Updated: December 30, 2008: 10:53 AM ET



    NEW YORK (CNNMoney.com) --
    Yes, I SAID Consumer Confidence did, indeed, plummet as a CONSEQUENCE of the Great Recession. The six WORST months of the Great Recession were from October 2008 to March 2009. Those were the most terrifying six months of my life. Almost EVERY informed observer deemed the world economy on the verge of the Second Great Depression. The world's entire financial system had gone into CARDIAC ARREST, with banks refusing to lend EVEN to other banks, an EXTRAORDINARY situation. America's Real GDP was collapsing at a faster rate than during any six-month period of the Great Depression of the 1930's.

    Then, in MARCH of 2009, the gloom lifted. ARRA was passed, and Consumer Confidence SOARED. THAT is what the graph SHOULD tell you.

    If only you could read graphs..........
    Thanks from RNG and Friday13

  10. #10
    Established Member
    Joined
    Apr 2015
    Posts
    5,294
    Thanks
    983

    From
    Banned
    Quote Originally Posted by BigLeRoy View Post
    Yes, I SAID Consumer Confidence did, indeed, plummet as a CONSEQUENCE of the Great Recession. The six WORST months of the Great Recession were from October 2008 to March 2009. Those were the most terrifying six months of my life. Almost EVERY informed observer deemed the world economy on the verge of the Second Great Depression. The world's entire financial system had gone into CARDIAC ARREST, with banks refusing to lend EVEN to other banks, an EXTRAORDINARY situation. America's Real GDP was collapsing at a faster rate than during any six-month period of the Great Depression of the 1930's.

    Then, in MARCH of 2009, the gloom lifted. ARRA was passed, and Consumer Confidence SOARED. THAT is what the graph SHOULD tell you.

    If only you could read graphs..........
    Obama won the election and consumer's immediately gave him a big vote of no confidence immediately afterward, plunging to the lowest on record. Trump won and it skyrocketed to levels not seen in Obama's entire tenure.

Page 1 of 5 123 ... LastLast

Similar Threads

  1. Consumer Confidence ‘plunges’ to ’10-month low'
    By meridian5455 in forum Political Discussion
    Replies: 0
    Last Post: 28th July 2015, 07:23 AM
  2. Consumer Confidence at 4 1/2 year high!!!!
    By Oscar99 in forum Current Events
    Replies: 14
    Last Post: 27th November 2012, 11:06 AM
  3. U.S. consumer confidence at more than 4-year high
    By bluesman in forum Economics
    Replies: 18
    Last Post: 2nd November 2012, 04:26 PM
  4. Consumer Confidence Plunges
    By Blackbeard in forum Current Events
    Replies: 34
    Last Post: 2nd September 2011, 04:47 PM
  5. Replies: 2
    Last Post: 13th August 2011, 09:21 AM

Tags for this Thread


Facebook Twitter RSS Feed