Tuesday, June 29, 2010
What's Confidence?
The Conference Board Consumer Confidence Index (CCI) fell sharply in June. The index fell 9.8 points from 62.7% in May to 52.9 in June. If you turn on CNBC you will notice a small panic and talk of supporting stimulus programs. This is a pretty good sign that the recession is about to get nasty. Also a look at the yield curve reveals that a contraction is forthcoming.
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without confidence their can be no sustainable economic recovery.
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