Consumer Confidence Hits 26-Year Low

Disappointing first-quarter earnings from General Electric Co (GE.N: Quote, Profile, Research) and a drop in U.S. consumer confidence to its lowest in more than a quarter century in early April provided the latest signs the U.S. economy may be in a recession.

General Electric, the second-largest U.S. company by market capitalization, on Friday posted an unexpected 6 percent drop in first-quarter profit.

Read the whole story here.

Comments

[VivaZapata]

why so high?

[Nyk]

Because some people are lucky. I feel really lucky this time around (after years of feeling unlucky, so its been paid for). My husband got a new job last October-ish. More money, better bennies, etc, etc. The only downside is that we can't sell our house so he's driving 3 hours a day (makes for looooong days). Even with the price of gas and food we're still doing ok. I feel for those that haven't made more money and are now struggling like never before. I have no illusions that the economy is good (I'm a forest person), but I can see where others (those that can only see trees) wouldn't.

[dadw5boys]

DON'T WORRY THE RECESSION IS UNDER CONTROL!!!!!!

BUSH HAS THOSE WELFARE MOMS WATCHED BY 4 DIFFERENT AGENCYS!!!!

IF THEY MAKE AN EXTRA DOLLAR THEY CAN CUT THIER BENIFITS QUICKLY.

YOUR TAX DOLLARS WON'T BE WASTED ON THESE POOR AMERICAN MOTHERS OF FUTURE AMOERICAN TAXPAYERS!!!!!!!!!!!!!!

[Rule Of Law]

And with his expanded use of spy drones on US soil, her can really keep and eye on them!

[anastasiabeaverhousen]

Another Bush, another recession. No news in that. It will take a Dem to clean up their mess once again, only this time I'm not sure it will be as quick and complete as last time. The shrub has dug us so deep into a financial chasm, it will take years to un-do what that idiot has done - not only to the economy but to our democracy.

[Blutus]

I think the Americans who have lost their job and their home
are fully awake.

Confidence ain't got nothin' to do with nothin'.
It's a luxury for people who haven't crashed and burned yet.

Lack of "confidence" would be a vacation.

Try abject, suicidal despair.

[Montanamotor]

Perhaps, the US-public will wake up and realize the severity of the current economical catastrophy, their country is amidst, actually, when the US-customer-confidence hits a new 79-year-low... This is 1929 reloaded.

[mmckinl]

It gonna get a lot worse before it gets better ...

The Coming Collapse of the Middle Class

http://www.youtube.com/watch?v=akVL7QY0S8A

[realrick]

Yes, consumer confidence is at a 26 year low.

But, NEWSFLASH--According to Hillary and McSameAsBush, NONE of them are bitter! They are all, as the song says, "shining, happy people holding hands" with as Hillary puts it, "their shirt sleeves rolled up".

So, don't worry, be happy, folks. Make that trip you've been putting off for so long due to $4 a gallon gas to lovely Crown Point, IN and have a brewski with our pal Hill and reminisce about those old hunting days of yore.

In the meantime, there's nothing to see here with this story. Let's move along now.

We now return you to your regular programming with the perpetual media spin that Barack Obama is an uncaring elitist who is completely out of touch with the public.

[realitytrumpsbull]

The economy, or Con Me, well, sucks. Part of that is high-dollar heavy-hitters sitting offshore beyond the reach of our tax laws and raking in the Fat Cash, another part of that is the 'defense' Bonanza That Never Stops...

[swift_goat_pet_for_truth]

Thank goodness the GOP has been in charge most of these last years.

Can you imagine the mess we would be in if the Dems were in power?
It could be as bad as the 1990's were!

[themodernleader]

When government fails to manage properly, the many suffer the consequences of the mismanagement. The few benefit disapportionately. Ultimately, all the membership of the organization suffer in one manner or another. If the many are wise they learn from their decisions leading up to incompetent leadership. If the many are persuaded by the few to blame others for their own errors in judgement and deciding, the many will suffer both unequally and eternally.

[loki]

Funny how this is news, but when a politicians for once tells the truth that people are bitter about our failing economy caused by our greedy government , corporate and elitist Aholes, everyone cries and tries to make it sound like its all a big lie. Once again proving many in American will not openly accept the truth.