Thread: U.S. Consumers More Depressed Than Ever Before

U.S. Consumers More Depressed Than Ever Before

Tuesday, December 30, 2008 10:18 AM

Consumer confidence hit an all-time low in December, dropping unexpectedly in the face of layoffs and deteriorating markets for housing, stocks and other investments.

The Conference Board's Consumer Confidence Index fell to 38 in December from a revised 44.7 in November. Economists surveyed by Thomson Reuters had expected the index to rise incrementally to 45.

The separate Present Situation index, which measures how respondents feel about business conditions and employment prospects, fell to 29.4 in December from 42.3 in November. It is now close to levels last seen after the 1990 to 1991 recession.

The dismal job market appears to have outweighed declining gas prices in consumers' minds. Those saying jobs are "hard to get" rose to 42 percent in December from 37.1 percent in November, while those claiming jobs are "plentiful" decreased to 6.2 percent from 8.7 percent.

The proportion of consumers anticipating an increase in their incomes decreased to 12.7 percent in December from 13.1 percent in November.

Those claiming business conditions are "bad" increased to 46.0 percent in December from 40.6 percent in November, while those saying business conditions are "good" declined to 7.7 percent from 10.1 percent.

The survey is based on a representative sample of 5,000 U.S. households. The cutoff date for December's preliminary results was Dec. 22.

http://moneynews.newsmax.com/economy/co ... 66321.html

And yet this congress with Obama's support brought in 146,000 H1B visas in November with many more H2A, H2B and L1 visas to be doled out as well. Obama and Congress will still attempt to ram illegal alien amnesty down our throats resulting in millions of new job seekers along with their immediate, extended family members, friends and neighbors along for the ride fraudulently claiming familial connections who will be able to get away with it because of a dysfunctional and corrupt DHS. It will only get alot worse with pro open borders Napolitano pushing Obama's open borders agenda. All of these "instant citizens" will compete with Americans for what few jobs exist including any arising from the bs stimulus package. Who doesn't think the stimulus package and all these bailouts is intended only for illegal alien jobs and benefits to maintain the open borders, cheap labor and votes agenda? Happy New Year....................

In March the fight is on concerning E-Verify in Congress. We need to be ready.