LGB: Consumer Sentiment Falls To Lowest Level Ever

Again, the primary cause of all the economic trouble is China fooling around with coronaviruses, with an assist from Fauci and the NIH. Then, along come Joe Biden, who’s not only done little to mitigate the economic issues, but, worked to damage certain areas of the economy

Consumer sentiment falls to record low in June as inflation persists

Biden Brain SuckerConsumer sentiment hit a record low in June as Americans continued to face elevated prices for gas, food, and other goods and services.

The University of Michigan’s closely watched Surveys of Consumers consumer sentiment index was revised lower to 50.0 in the final June survey.

This marked the lowest level on record in data for the series, which spans back to the mid-1970s. In the preliminary monthly survey, the index registered 50.2.

Inflation, which last increased at the fastest pace in more than 40 years as of May, remained a pressing concern and a key contributor to the further erosion in sentiment.

Well, hey, it’s an historic administration, right? Might as well have historic numbers

“About 79% of consumers expected bad times in the year ahead for business conditions, the highest since 2009,” Hsu added. “Inflation continued to be of paramount concern to consumers; 47% of consumers blamed inflation for eroding their living standards, just one point shy of the all-time high last reached during the Great Recession.”

Hey, who was vice president during that time period?

The University of Michigan’s print also came following a number of other reports pointing to a deterioration in key parts of the US economy and a slide in sentiment among businesses. The preliminary S&P Global Composite Purchasing Managers’ Index (PMI) for June came in at 51.2, the weakest level since January, and S&P’s manufacturing output index slid into contractionary territory and a two-year low.

Two years ago everything was rather shut down due to the Wuhan Flu. How low can the Consumer Sentiment go when food shortages hit?

(MoneyWise) However, some experts say that halting the federal gas tax — which currently sits at 18.4 cents per gallon — might not be as beneficial as you’d think and are calling for other forms of relief.

“The average adult in the U.S. uses about one gallon of gasoline per day,” says Jay Zagorsky, senior lecturer in markets, public policy and law at Boston University.

“If President Biden is able to push through a gas tax holiday, the typical adult will save a bit less than $6 a month. In a time when inflation is over 8%, an extra $6 will not make much difference.”

I can get a Bojangles chicken biscuit combo once a month….would have to pony up some change for the tax, though.

The White House acknowledges that a gas tax holiday will not relieve high costs on its own but may provide Americans some breathing room during the Russia-Ukraine war, which has crimped the global supply of oil.

$6 a month is breathing room? No wonder the consumer sentiment is so low.

De Haan suggests indirect relief would be the best approach and recommends sending out a $50 or $100 check that Americans don’t necessarily need to use toward gas. This could help alleviate inflationary pressures for everyone, not just motorists.

Um, no. That’s part of the reason we’re seeing inflation. It made sense when so many were out of work in 2020. It didn’t make sense when people could start working again in 2021.

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21 Responses to “LGB: Consumer Sentiment Falls To Lowest Level Ever”

  1. Elwood P. Dowd says:

    American’s faith in the Supreme Court dropped to 25%. And that poll was conducted BEFORE The Supreme Catholics of the United States overturned Roe v Wade!

  2. Elwood P. Dowd says:

    Our Dearest James,

    Yes. The pollyannish Dem/Libs underestimate the American fascists at every turn. Just win, baby. Cheating in sports shows skill and understanding. Playing fair is for chumps!

    Remember when cons used to whine about ‘activist’ judges? LOL. Good times.

    Cons have been after this for decades and have been unrelenting, keeping their eye on the prize. They knew all along that an untouchable court was the holy grail. And Don Jon trump pushed it across the finish line for them!

    • david7134 says:

      What does any of this have to do with sports. The only cheating was the voter fraud of Biden.

      • Elwood P. Dowd says:

        So you found evidence of voter fraud? Oh, right. LOL.

        “Cheating in sport” refers back a few days ago when another commenter suggested cheating in sport is just another component of the game like passing, blocking and kicking in football, or stealing signs or throwing doctored pitches in baseball.

    • L.G.Brandon!, L.G.Brandon! says:

      Only in the warped mind of an avowed communist can reverting back to the actual Constitution be considered being “activist”. You fuckers are all insane.

      You do understand abortion is not a constitutional right don’t you?
      You do realize the “right to keep and BEAR arms” is don’t you? So why ya bitchin and calling everyone names asshole?

      FJB and his commie worshipers.

    • Jl says:

      Earth to J-“activist judges”? Of course the activist judges would be those who found, through much searching, a “right” to an abortion, where no such right exists.
      But it’s good progress that the libs suddenly know what a “woman” is.

      • The catholic but not Catholic Elwood P. Dowd says:

        Lil Jilly,

        The Supremes found a right to contraception, miscegenation, same-sex marriage, and same-sex sex. Are you ready to rid America of those plagues, young lady?

        • Jl says:

          Which doesn’t refute a thing I said.
          “Are you ready to rid America of those plagues?”. J, you’re always fun to debate with-Are ready to show us where these “plagues” are found? Didn’t think so.

      • The Liberal but not libertarian Elwood P. Dowd says:

        Your rights are what the Supremes decide they are.

        And in fact, Americans can take away your weapons with a constitutional amendment!

        Worse (for you), the 13 member Supreme Court can overturn all the works of the conservative Catholic extremists on today’s court, 7-6.

        Jill, We’ve always known what a woman is. Male cons consider women to be nothing more than sexual playthings.

        • Jl says:

          “Americans can take away your wea-ones with a Constitutional amendment”. J, I think you’re finally on too something! Yes, that would be how it’s supposed to work-by following the Constitution. Hence, the Dobbs ruling. Am I going to fast for you…?

          • Elwood P. Dowd says:


            You DO understand that your supposed “rights” can be lost or gained by a decision by 5 unelected justices, often picked by a president who didn’t receive a majority of votes.

            finally on too something
            going to fast for you (unless you meant you were going to fast (stop eating)) Are you going to stop eating for me? Why would you? LOL.

            To = is a preposition or part of a verb infinitive

            Too = means “also” or “in addition” or “excessive amount”

            But don’t worry, young lady, by middle school you’ll use the words correctly!

        • Jl says:

          “We’ve always known what a woman is..” Not by a long shot. And for your enjoyment, more hypocrisy from Grandpa and the libs.. https://www.powerlineblog.com/archives/2022/06/and-the-biggest-abortion-hypocrite-award-goes-to.php

          • Elwood P. Dowd says:


            And the relevance of yet another powerline blog post, young lady?

            Never changing your mind when you receive new information is a sign of conservatism/ignorance.

            Nobel Laureate, economist Dr Paul Samuelson said, ”Well when events change, I change my mind. What do you do, sir?”

            Don Jon trump was a supporter of abortion but changed his mind to garner ignorservative support. Is he a hypocrite? That’s rhetorical.

          • Elwood P. Dowd says:

            We’re fascinated that conservatives do not know what a man or a woman is.

        • Jl says:

          So in other words you can’t find where these “plagues” are found in the Constitution? I’m shocked.

          • Jl says:

            “We’re fascinated conservatives don’t know what a man or woman is”
            Good one, but sorry, it’s the woke libs who are the dumb ones. From the PL article- “People are reminding one another that the SC decision to over-turn Roe-Wade impacts all people who can get pregnant, including transgender men and assigned female at birth non-binary individuals”. WTF? Men can get pregnant? Uh, no they can’t. Why are you guys the ones “denying”science? Now wait, I’m sure I’ve sure I’ve heard that “denying“ word somewhere before…

  3. UnkleC says:

    Maybe someone should tell Team Stumbles&Mumbles that “it’s the economy, stupid!”. Everyone eats, wants to be cool or warm as needed, most need to get to work, and businesses need to be profitable in order to pay wages. Basically, that’s the economy. Right now, people are actually realizing that somebody put the morons in charge and this excrement could get very ugly, soon. The adults need to be put in charge, quickly.
    It’s probably take years to repair the damage Brandon has done. Hopefully, the economy will recover fairly well with a few changes and we can get to work repairing the damage and get back to pre-Brandon levels, at least.
    Start with: let the energy sector get back to work. Let ‘Green Energy’ fend for itself, it will mature and become a viable part of the system without starving the populace. Get off the ‘Social Engineering’ bandwagon, the nutters don’t need any help and only impede progress. Don’t take it so hard that we now have a majority of justices on the Supreme Court that have actually read and understand the Constitution. Now we need a legislative branch that could pass high school civics. Not to mention an executive branch that understands finance and economics.

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