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Gallup: Confidence Lowest in a Year

IMG Auteur
Tim Iacono
The Mess that Greenspan Made
Published : October 02nd, 2013
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Category : Opinions and Analysis

Given that, up until last weekend, most Americans either weren’t paying attention to what was going on in Washington regarding a government shutdown or had become conditioned to think a last minute deal would get done, it’s not surprising to see Gallup’s measure of Economic Confidence falling sharply now per this story today and as shown below.

What is surprising is that independent voters are showing the least concern (as indicated by the smallest decline in the lower panel above). A big drop for Democrats and half that move for Republicans seems to make sense, but what’s up with the Independents?

Maybe they’re still not paying attention yet or, more likely, they’ve just completely tuned out news from the nation’s capital in utter disgust of what is going on.
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Tim Iacono is the founder of Iacono Research, a subscription service providing market commentary and investment advisory services specializing in commodity based investing.
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overtheedge   10/2/2013 at 10:06 PM GMT
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Or just maybe the Independents see SNAFU.

What really has changed? Still no budget. Reps are protecting the warfare class. Dems are protecting the welfare class. Deficit spending is accepted as normal. The general working population is barely surviving paycheck to paycheck because they are following the government by using credit as an income source. Very few are paying down debt. Inflation is persistent, but modest so far. The Communitarians continue to implement LA-21 on a global basis. And nobody associated with the TBTF mortgage mess sees jail.

What has changed?
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Or just maybe the Independents see SNAFU. What really has changed? Still no budget. Reps are protecting the warfare class. Dems are protecting the welfare class. Deficit spending is accepted as normal. The general working population is barely surviving  Read more
overtheedge - 10/2/2013 at 10:06 PM GMT
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