Crisis in Confidence

Consumer Confidence Plunges Amid Financial Turmoil

Consumer confidence plummeted to an all-time low in October as Wall Street turmoil hit consumers on Main Street.  

The Conference Board Consumer Confidence Index plunged to 38 in October from 61.4 in September, falling far below economists' expectations of 55. 

The decline was due mostly to the turmoil that has hit the financial sector in recent months.

"The impact of the financial crisis over the last several weeks has clearly taken a toll on consumers' confidence," said Lynn Franco, Director of The Conference Board Consumer Research Center. 

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I think crisis of confidence means the "smoke" in the "smoke and mirrors economy" has finally cleared. How long can an economy last when the citizens don't freaking PRODUCE anything? When the "roaring economy" is based on the parasites on Wall Street pushing around little pieces of paper?

That's not a REAL economy - when a handful of parasites can become billionaires overnight by pushing the market up and down.

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I wonder what this Christmas spending will be, for me personally not half what l was spending 3 years ago

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