We have been grinding through all time lows of negativity across sentiment and confidence readings this week. This morning, we just got the most current reading on US consumer confidence from the October University of Michigan report - guess what? It stopped going down!!
Why is that? How can the most current U of M reading of 57.6 and the weekly ABC/Washington Post reading of -49 be a touch better than those of the last few weeks? Aren't all of the talking heads warning Americans of the Great Depression Part Deux?
Maybe the answer is Obama. Over 80% of the people living in this country don't think the country is headed in the right direction. Change is good. Why? Because it’s what happens on the margin that matters most.
Expectations from more than half of those who vote next week (assuming Obama wins, making that math > 50%) is that the USA is in a better place next week. In our macro models, “better than bad” is still good.
This is just one more bullish signal to add to my growing list... Cowboy up!
KM
Why is that? How can the most current U of M reading of 57.6 and the weekly ABC/Washington Post reading of -49 be a touch better than those of the last few weeks? Aren't all of the talking heads warning Americans of the Great Depression Part Deux?
Maybe the answer is Obama. Over 80% of the people living in this country don't think the country is headed in the right direction. Change is good. Why? Because it’s what happens on the margin that matters most.
Expectations from more than half of those who vote next week (assuming Obama wins, making that math > 50%) is that the USA is in a better place next week. In our macro models, “better than bad” is still good.
This is just one more bullish signal to add to my growing list... Cowboy up!
KM
