Consumer Confidence Pluges; 12 States in Contraction

Mike Shedlock

In a healthy economy, consumer confidence would be 90. Instead it is slightly less than half that.

Please consider U.S. Consumer Confidence Falls to Two-Year Low http://www.bloomberg.com/news/2011-08-3 ... -44-5.html

The Conference Board’s index slumped to 44.5, the weakest since April 2009, from a revised 59.2 reading in July, figures from the New York-based research group showed today. It was the biggest point drop since October 2008. A separate report showed home prices declined for a ninth month.

“This paints a picture of underlying demand weakening,â€