Shocker: Americans Lack Confidence in Economy

How could it be any different, when the Anointed One has proclaimed far and wide that we’re in a crisis that requires unprecedented government intervention into the economy and our lives:

Glum and glummer.

That’s how US consumers feel in the midst of worsening economic conditions and little hope that the situation will rebound, according to new data released Tuesday morning.

Consumer confidence reached a new low in February, according to the Conference Board, with its confidence index plunging to a reading of 25.0. That represents a 12-point dive since January alone and the worst reading by far since the business organization began taking readings in February 1967.

The group’s expectations index also fell dramatically – from 42.5 in January to 27.5 this month.

“Not only do consumers feel overall economic conditions have grown more dire, but just as disconcerting, they anticipate no improvement in conditions over the next six months,” said Lynn Franco, director of the Conference Board’s consumer research center, in a statement.

What Obama and his cronies in Congress would never admit, though, is that their wholesale power grab is making things worse. And even worse than that is that everyone’s right in being so concerned: things will get worse before they get better, because government is doing all the wrong things at all the wrong times.

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