Consumer Confidence Hits Historic Low

Financial Crisis Recession Shoppers are worried about their jobs while watching the value of their homes and retirement funds dwindle.

by The Associated Press

Published: Tue, January 27, 2009 - 9:48 am CST

NEW YORK (AP) - A private research group says that Americans'
mood about the economy has darkened even further in January.
The Conference Board said Tuesday that its Consumer Confidence
Index edged lower in January to 37.7 from a revised 38.6 in
December. That's a historic low for the widely watched barometer,
as shoppers worry about their jobs and watch the value of their
homes and retirement funds dwindle.
It's also lower than expected. Economists surveyed by Thomson
Reuters had expected a reading of 39. The levels in recent months
have hit the lowest point since the index began in 1967.

(Copyright 2009 by The Associated Press. All Rights Reserved.)

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BamaBob Says:

Tue, Jan 27, 2009 at 1:09 pm

We all know at the very basic level that we can not spend our way out of economic bad times. Once you start borrowing money to pay for borrowed money you are on a collision course with bankruptcy.

This stimulus plan sounds like old school politics to me and at some point the piper must be paid.

“Change We Can Believe In…”

northcountygirl Says:

Tue, Jan 27, 2009 at 12:56 pm

Things are going to turn around real soon! Right? We have us a new man in office and he is going to change things for the better!!!!

I wonder how long I can hold my breath?

BamaBob Says:

Tue, Jan 27, 2009 at 12:02 pm

I see it coming too. The problems are growing like a snowball rolling down a hill. Economy slows, people lose jobs, businesses close, more jobs are lost, more businesses close, more jobs…..

This stimulus package doesn’t sound like it will do much good either. A lot of pork targeted at select groups of people….

butterflykisser101 Says:

Tue, Jan 27, 2009 at 11:54 am

I can already imagine it though.

BamaBob Says:

Tue, Jan 27, 2009 at 11:48 am

Things do look bad and get worse each day. Jobs are being cut right and left. The real impact of that will not been seen for several weeks.

butterflykisser101 Says:

Tue, Jan 27, 2009 at 9:52 am

I smell a depression coming soon.