Consumer comfort plummeted this week amid turbulence in the stock market and a seemingly infectious crisis in the home mortgage market.This is but another example of how George Nero has fiddled while his nation has burned.
The Washington Post-ABC News consumer comfort index (CCI), a barometer of the public's assessment of current economic conditions, plunged nine points this week, the biggest ever one-week drop since the poll started in late 1985.
The CCI now stands at -20 on its scale of --100 to +100, well off its high for the year, +2 in March, and near its post-Hurricane Katrina lows. After that storm devastated the Gulf Coast two years ago, consumer confidence quickly dropped by 11 points before recovering several months later
I never took a single course in economics in college but I can tell from this and other information that the Bush economy is far from healthy. For the last 6 years we have been blind-sided and bullshitted and told all was well because of the tax cuts enjoyed by the top 1 percent of salary earners in the country. Right on cue the drones who parrot everything the Fox Opinion Network spews out have been telling us all is well.
But the data say something different. Last week the stock market dropped precipitously. This week its plunging consumer confidence. What will it be next week? And what will it be when China demands their money for the American debt they are holding?
I'm sure the Reich-wing nuts are gearing up to tell us "but there hasn't been a terrorist attack in 6 years." Wrong. We have been attacked by the terrorist in the White House nearly every day since 9/11. Unfortunately too many were unwilling to open their eyes and see what was happening.
Wake up sheeple.
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