US Consumer Confidence falls to levels not seen since Carter Administration

Color me shocked, shocked I tell you!

U.S. consumer sentiment grim but retail sales jump

(Reuters) – U.S. consumer sentiment worsened sharply in early August, falling to the lowest level in more than three decades, after retail sales posted the biggest gain in four months in July.

By Pedro Nicolaci da Costa and Alexandra Alper | Reuters UK

High unemployment, stagnant wages, gridlock in Congress, and a stockmarket slump all contributed to a consumer mood that was as grim as when Jimmy Carter was President during the recession of 1980 and interest rates were more than 20 percent.

And, as Glenn “Instapundit” Reynolds has been repeatedly noting, Carter II is now the best we can expect from the Obama Administration.

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