MI Consumer Sentiment has been around since 1970. Here’s a handy definition of the high impact economic measurement from Myfxbook:
When it comes to consumer expectations, the Index of Consumer Expectations focuses on three areas: how consumers perceive future prospects for their own financial situation, how they perceive future prospects for general economic conditions in the near term and their perception of future economic conditions in the long term. Each monthly poll has roughly 50 core questions, each of which examines a distinct facet of consumer attitudes and expectations. . In order to be statistically representative, the samples for the Surveys of Consumers are statistically intended to include all American homes, with the exception of those in Alaska and Hawaii. A minimum of 500 telephone interviews are done each month.
Joe said a lot of things on the rare occasion he did speak in his bid for the White House. He’s kept a few promises, like his war on energy and opening the boarders to all comers. If he’d only broken those promises and kept the others like no shot mandates and bringing the country together. A consistent theme of his (and a lot of NWO leaders around the globe) was “Build Back Better”. I’m wondering when he will get around to building. Below is the MI Consumer Sentiment updated for May:
Trump’s economy bottomed out during the lockdowns which were announced on March 15, 2020. That was a big time own goal but it was during a time of a manufactured crises, potentially targeted at Trump. Lockdowns were a huge mistake but it was not a normal situation so one can imagine how a mistake was made, particularly when surrounded by hostile deep state actors. It’s hard to say what the biggest mistake of Trump’s presidency was but the lockdowns are a candidate for top spot along with Operation Warp Speed, Bill Barr, Mike Pence…it’s a fairly long list. I sympathize with Trump, I can’t imagine how difficult it was to operate in an environment where 95% of the people surrounding you are your enemies and who will do anything to undermine you. Most of us would quit and sue for hostile work environment. We will probably never know but would it be surprising to learn that he had a figurative gun to his head on some of these decisions?
Back to the most current number, it’s 59.1. April was the dead cat bounce from March’s 59.4. Nice going, Joe. The context of the graph is self evident and I did not pick the highest point to start the graph ala the global warming hoax crowd. You have to go back to August 2011 to find a worse number, 55.8. Crazy, Joe was in the White House then too. There were plenty of bad numbers in 2008 & 2009 after the mortgage melt down. Prior to that you need to go back to the 1980’s to find lower numbers (thanks Jimmy). Sentiment bottomed out at 51.7 during the Carter years. Joe inherited a sentiment number of 80.7 and has managed to take us to 59.1. Who would bet against him taking out Carter’s low?
Raw data available here: http://www.sca.isr.umich.edu/