Posts Tagged ‘May 1980’

Consumer Confidence Plunges To Lowest Level Since Last Year Of (You Guessed It!) The CARTER Presidency

August 13, 2011

This ought to be when Obama knows he truly sucks.  And that he’s truly failed.

This is Carter news.  As in the last year of Carter’s massively failed presidency. 

Obama beat Carter’s record by nearly a YEAR:

Image source:

Here’s the story for you word lovers:

U.S. consumer confidence at 3-decade low
Published August 12, 2011| EFE

New York –  U.S. consumers’ confidence in the progress of the nation’s economy and of their own financial situation plunged in August to its lowest point since May 1980 over worries about the faltering recovery, according to survey results released Friday.
The Thomson Reuters/University of Michigan’s preliminary August reading on overall consumer sentiment stands at 54.9 points, considerably lower than the 63.7 in July and also far from the expectations of analysts, who believed the index would be around 63.

The figures are the lowest in more than three decades, a result of a series of factors including high unemployment rates, a long debate in Congress over raising the debt limit and the downgrading of the U.S. debt by Standard & Poor’s, Reuters/UMich said.
“Never before in the history of the surveys have so many consumers spontaneously mentioned negative aspects of the government’s role,” survey director Richard Curtin said.
By July the index had already retreated significantly, from 71.5 points to 63.7, which at the time was its lowest level since March 2009 and was largely due to the lack of an agreement between Republicans and Democrats to raise the debt ceiling, which was finally approved at the last minute a week ago.
Worries were further heightened this month by the downgrading of the U.S. debt rating, which combined with other structural factors sank consumer confidence to depths unknown in more than 30 years.
And the subindex that measures consumer expectations about how the economy will fare in a year’s time fell in August to 45.7 points compared with 56 points in July and reached its lowest level since May 1980.
For its part, the index that measures consumers’ perception of current economic conditions and their readiness to make large purchases dropped from 75.8 points in July to 69.3 points this month.

Time for another graph to show the sheer devastation that is Barack Obama:

Well, that’s certainly “change.”  And I guess we all “hope” Obama doesn’t double down in ruining our lives and our nation even more than he’s already done.

Did I mention the fact that these are CARTER numbers?

Most people simply do not understand how truly BAD things were under Jimmy Carter.  Or just how awful Ronald Reagan had it when arrived at the Oval Office for his first day of work in January 1981.

Let me refresh your memory:

The numbers told the sad story of the Jimmy Carter presidency: interest rates of 21%; inflation at 13.5%, and an unemployment rate of 7%. And a relatively new economic device called “the misery index” – the combination of the unemployment and inflation rates which Carter had himself used to great effect in his 1976 campaign to win election – was at a shocking 20.5%.

And those who went through those dark and difficult times may soon be looking back to that period as “the good old days.”

Welcome back, Carter.

When Ronald Reagan took office from Jimmy Carter, inflation was at a meteoric 13.3% and the country was in the throes of a fierce recession. There was a real question as to whether workers’ wages would keep up with the costs of living, which made people afraid to either spend or save. And nobody knew how to control inflation – which had risen from 1.4% in 1960 to the aforementioned 13.3% in 1980 – causing a real erosion of confidence in the future. Jimmy Carter answered a reporter’s question as to what he would do about the problem of inflation by answering, “It would be misleading for me to tell any of you that there is a solution to it.”

But Ronald Reagan had a solution. And by the time he left office, he had solved the problem of creeping inflation increases and had actually reversed the trend: he left behind a healthy inflation rate of 4.1%.

Reagan’s policies set the trajectory for growth that would last for 20 years.

America needs another Reagan or it’s doomed.  And the LAST thing on earth we need is four more years of Jimmy Carter:

You will NOT get a Reagan from the Democrat Party.

Your only possible hope is to vote Republican, and then get on your knees and pray that both that Republican president and the American people are up to turning around Obama’s disaster.