Consumer confidence falls to 53.1 down from 54.5 in August and below 57.0 consensus. The consumer is unsure of the short term outlook and their income status. What effect will that have on Holiday sales, auto and housing sales?
Investor confidence - State Street's investor confidence fell to 118.1 from 122.8 in August (which was a 5 year high).
FDIC - deposit insurance fund has fallen into the red for only the second time in it's history (1st was in 1991 during the S & L crisis and the RTC).
The rich can't carry the country so the Government must cut spending or raise taxes on more than rich people, maybe just about everyone.
Saturn closing and cutting 13,000 jobs and 350 dealerships.
New jobless claims up 17,000 to 551,000.
Auto Sales down after clunker program is over. GM down 45%, Chrysler 42% and Ford down 5.1%
Where are the green shoots?
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