The World’s Worst Socialist strikes again..and this time he’s giving us TIME TRAVEL! Oh, the nefarious Marxist. First, he started by doing a better job at boosting the economy than Reagan, with higher stock market and lower unemployment numbers than at any point since he entered office. The deficit is down by two-thirds, minimum wages are rising across the country, America’s oil production is going up exponentially, and we’re on the track to becoming fully energy independent in the next 10 years or so.
And now, the public is starting to notice how well things are going under Karl Marx’s Biggest Failure. According to a new study released by the University of Michigan, “Consumer Sentiment” (aka “consumer confidence”) consumer confidence is now at a 7-year high. The last time we saw numbers this high was July of 2007; critically, just before Dubya drove the world’s economy off a cliff.
Having risen from 84.6 last month to 86.9 this month (on a scale of 0 to 120), the rising consumer confidence index shows that despite the GOP’s best efforts to fearmonger us into our bunkers, people are starting to worry less about the future. In a real way, Americans seem tt have at least made some kind of peace with the remaining geopolitical tensions, market volatility and the state of the global economy.
Even more critically, Richard Curtin, chief economist o the UofM survey, says that six out of the ten respondents said that the economy has improved recently — the highest proportion o people in the last ten years.
Thanks for this new confidence goes in large part to increased hiring, steady job gains (partly due to Baby Boomers finally retiring and opening up opportunities in the marketplace), and gas prices that are as of last week at a four-year low. As of right now, gas prices are about where they were in January of 2010, and are running at about the high-side average of the 2005 to 2008 era. And they’re showing no signs of slowing down. In fact, if they continue to drop at this rate, then by this time next year we could easily see under $2 a gallon.
As of right now, that increased consumer confidence hasn’t translated directly into more consumer spending; but, a big increase in product exports, rising stock market and rising GNP combined with the consumer confidence makes significant spending increases almost certain in the near future.
As you can see from this chart, we still have a long way to go…
…and we’re not exactly back to the heydays of the 1990s just yet. BUT…there is an odd kind of “history repeating itself” vibe going on here.
Look back on that chart…in terms of confidence, we’re almost exactly where we were in 1994. That’s when the last two-term democrat pulled us out of the last Bush recession, while ending the last war in the Middle East.
At this point, all we need to do is put another Clinton in the White House, and we can officially bring back No Doubt, Friends and JNCO jeans. Hell, we’ve already got a new live-action Ninja Turtles movie…so anything’s possible.
Hey…with the Worst Socialist Ever, a reboot of the 90s may not be entirely out of order.
Maybe they’ll make a TV show out of it..