Tuesday, August 30, 2011

Consumer Collapse

Stocks reversed, but probably only temporarily. Wall Street is having another Pollyanna Party.

from Zero Hedge:
August consumer confidence plummets from 59.2 to 44.2, far below consensus of 52, dropping to its lowest level since April 2009... And even uglier is the 6 month outlook chart which collapsed from 74.9 to 51.9, one of the biggest monthly drops in history.