U.S. consumer sentiment slips; bad weather eyed

Comments (14)
ChuckRanger wrote:

Their inflation number are not mine, mine are at the grocery store, meat market, feed, farm supplies, tire, electricity things people buy.

Mar 14, 2014 10:06am EDT  --  Report as abuse
GaHack1 wrote:

Not sure how these numbers are arrived at by the government, but the current inflation is the worse I’ve seen in years. Someone from the Labor department needs to make a trip to the grocery store or buy health insurance!

Mar 14, 2014 10:14am EDT  --  Report as abuse

Wow….$trillions in QE, all the stimulus programs, ZIRP and overall we still can’t get any pricing traction. Rather than focus on how long the Fed can keep rates low, perhaps we should be considering why our economy is so weak for so long in spite of historic easy (really free) money policies.

Mar 14, 2014 10:55am EDT  --  Report as abuse
percy1 wrote:

“Not sure how these numbers are arrived at by the government … Someone from the Labor department needs to make a trip to the grocery store”

“Their inflation number are not mine, mine are at the grocery store, meat market…”

Inflation is calculated by looking at prices at the grocery store. They check the price of a bag of apples, of a gallon of milk, etc. etc. etc. You guys are simply wanting to believe that inflation is high because you’ve been told it should be by people whose politics you’ve agreed with – the fact is that it is not.

Mar 14, 2014 11:46am EDT  --  Report as abuse
smokeys wrote:

I’ve never seen so much economic data blamed on the ‘weather.’ You’d think we were still a nation of farmers.

Mar 14, 2014 11:51am EDT  --  Report as abuse
gcf1965 wrote:

I agree with Chuck and Ga. When looking at teh most common and necessary consumer items, prices have and continue to rise rapidly. I told the clerk at teh grocery store recently that I believe the only reason they shut down overnight is to have time to mark up prices. Not a little, but 5-10% or more at a time. The price differentials are noticable over short periods, like from 3-6 months ago. This is where most Americans live.

Mar 14, 2014 11:54am EDT  --  Report as abuse
zoinkers123 wrote:

oh yeah. it’s the “weather”, a decades long flooding of the USA markets with imports made by extremely low paid workers in Asia, and the Wall Street bankers who made that possible. According to the Wall Street Journal, going to China for manufacturing used to be a “no brainer” until the wages started going up there. These people have lead this country into the ground with their no-brainers. So yeah it’s all the mental and emotional turbulence affected the markets due to such shock of being betrayed by the free market shark-wolves of Wall Street…the weather of the hearts and minds.

Mar 14, 2014 11:59am EDT  --  Report as abuse
ineeditbad wrote:

Yeah, the Weather…OMG how many Stupid people are believing this after 6 years of lies??? Wow…I have links to news articles going back many years showing stupidity like this…Many years…I live in the Heart of New England, MA/NH border. The “weather report” hasn’t kept me from my taking my son to school or go shopping for food when I need too. Tomorrow the excuse will be…? I’m just sick of businesses failing around my home, 20+ at current count…unemployed people and being Taxed everywhere I turn…GOD…

Mar 14, 2014 12:34pm EDT  --  Report as abuse
carlmartel wrote:

“U.S. inflation has held at a very low level in recent years because of a persistently high unemployment rate.”

That is untrue for most consumers who drive the economy. Inflation indexes leave out “volatile food and energy prices,” but consumers can’t leave them out when they shop. Food rises at rates higher than “official” reports. Energy remains steady or slightly lower with fraking despite increased demand from population growth, but Ukraine’s crisis will likely raise energy prices for everyone. The US has a mechanized economy, so transportation will raise all costs.
US consumers must spend less because food and energy prices rise.

Also, ACA is not free. $105 per month or $1,260 per year is each US citizen’s minimum. $1,260 x 320 million is $4 billion or 2.5% of US GDP that consumers can’t spend. Most policies are more expensive, so the drag on US GDP growth will exceed 2.5%. If US GDP doesn’t grow more than 2.5%, the US GDP growth rate will be negative, and the US economy will be in recession. That is a reasonable cause for US consumer sentiment to slip.

Mar 14, 2014 12:56pm EDT  --  Report as abuse
brotherkenny4 wrote:

To use the sentiments of the cowed and simple minded as a means to evaluate the economic possibilities is poor logic.

Mar 14, 2014 1:02pm EDT  --  Report as abuse
SaveRMiddle wrote:

With summer approaching, polled economists forecast it will be TOO HOT for flat broke American consumers to buy junk they don’t need.

Mar 14, 2014 1:22pm EDT  --  Report as abuse
carlmartel wrote:

Correction: 3nd paragraph, 2nd sentence should read: “$1,260 x 320 million is $400 billion or 2.5% of US GDP that consumers can’t spend.”

Mar 14, 2014 1:40pm EDT  --  Report as abuse

@carlmartel, in your ‘thorough’ (sarcasm) analysis of the PPACA you fail to consider a few very key facts…

1. This money spent on Health Insurance is not ‘lost’ it just going to a health insurance company paying for a service. So it is still part of GDP.

2. Overall the PPACA is designed, and so far the evidence shows that it will accomplish this, to make OVERALL healthcare costs lower for the whole population then the previous system. This equals more money available for other parts of the economy.

3. your calculations of the ‘minimum’ are false. The minimum is the greater of $95 or 1% of household income. That is the tax penalty for the individual not having health insurance this year.

A greater overall point, I love the people that use anecdotal evidence as a counter to actual data that is providing by the inflation reports. Just shows the cognitive disconnect they have with regards to facts vs. a thought in the mind(in this case usually driven by underlying hate for the guy in the office of the Presidency now).

Mar 14, 2014 2:08pm EDT  --  Report as abuse
sabrefencer wrote:

its the weather stupid…grrr what blather…its the state of our country, with Obama screwing up, everything that he touches, that makes people grrr…how can anyone be happy with that Obama maladministration in control..stay tuned, for worse to come..

Mar 14, 2014 3:10pm EDT  --  Report as abuse
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