Consumer Confidence Falls Off a Cliff

It isn't any one thing, it is everything. The explanation for the plunge in the Consumer Confidence Index in June cannot be narrowed down to any one development. Consumers know instinctively that the policy reaction to the gulf oil spill is not helping. Plans to shrink supplies of energy will only raise fuel prices. The Thatcher prophesy, (the trouble with socialism is pretty soon you run out of other people's money) is coming to pass in Europe. Congress, fresh off a government takeover of health care looks to have engineered another plan for central planning style micro-management. This time government is looking to run the financial system. And finally, how can anyone have confidence now that the Gore romance has imploded? Are consumers already kissing the shaky recovery goodbye? Read the details of the numbers here:

Consumer Confidence Falls Off a Cliff