U.S. Economic Confidence Still Subterranean

by JASmius



Looks like "Recovery Summer VI" isn't selling at the box office any better than its five dubious predecessors:

Gallup's U.S. Economic Confidence Index came in at -11 for the week ended July 12th, matching the prior week's eight-month low.

The poll found three in ten Americans describing the economy as "poor" and more than half feeling the economy is "getting worse."

The index had risen in the second half of last year as gasoline prices fell, topping out at +5 in January, but the gauge has slid since then.

The index represents an average of two inputs: how Americans view the current economy and whether they think it's getting better or worse. The score can range from +100 to -100.

In the latest week, 25% of Americans said the economy is excellent or good, while 31% said it's poor. That produced a current conditions score of -6. Meanwhile, the economic outlook score registered -16, with 40% of Americans viewing the economy as getting better, while 56% see it getting worse.

What do those numbers indicate, other than that Gallup arbitrarily averages their two metrics?  That the American people are hapless optimists.  Let's add this up: The U.S. economy has been in an economic depression for almost seven years, with Obamanomic policies designed to keep it that way; the U.S. has a worse debt crisis than that of Greece; If any green economic shoots do batter their way through the Obamanomic pavement, the five trillion dollars of worthless wastepaper the Federal Reserve has "quantitatively eased" since 2008 will unleash a raging hyperinflation that will make the Weimar Republic's monetary calamity look like traditional, tightfisted German frugality.  And those are just the looming economic catastrophes; that doesn't include our rapidly approaching wars with Russia, Red China, North Korea, and Iran, and what the Islamic State plans to do to us.

Strangely enough, none of the above - the Obama Doctrine of "lowering America to the level of the rest of the world" - has any measurable upward influence on the public's economic confidence.  Which is another way of saying that the only "Americans" who do profess such confidence are partisan Democrats and the mentally retarded, and there's a great deal of overlap between the two.

The whirlwind sixty-two million numbnuts unleashed almost seven years ago is about to be reaped, my friends.  From every imaginable direction.

Wish we could afford the popcorn and frosty beverage to sit back and watch it in our mortgaged chairs before it engulfs us and carries us away.