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Having surged to pre-COVID levels in June, The Conference Board’s consumer confidence index is expected to rebound in September from a two-month slide, but they were wrong as US Consuemr Confidence tumbled for the 3rd straight month to 109.3 (from 113.8 and well below the 115.0 expected).
Both ‘Present Situation’ and ‘Expectations’ tumbled (143.4 vs 147.3 prior and 86.6 vs 91.4 prior respectively). Source: Bloomberg
This is the weakest consumer confidence since February. “Consumer confidence dropped in September as the spread of the Delta variant continued to dampen optimism,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board.
“Concerns about the state of the economy and short-term growth prospects deepened, while spending intentions for homes, autos, and major appliances all retreated again. Short-term inflation concerns eased somewhat, but remain elevated. Consumer confidence is still high by historical levels—enough to support further growth in the near-term—but the Index has now fallen 19.6 points from the recent peak of 128.9 reached in June. These back-to-back declines suggest consumers have grown more cautious and are likely to curtail spending going forward.” Simply put, optimism collapsed: Consumers’ optimism about the short-term business conditions outlook eroded further in September. 21.5% of consumers expect business conditions will improve, down from 23.4%.
17.6% expect business conditions to worsen, up from 17.4%.
Consumers were also less optimistic about the short-term labor market outlook. 21.5% of consumers expect more jobs to be available in the months ahead, down from 23.1%.
20.3% anticipate fewer jobs, up from 18.0%.
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Consumers were slightly less positive about their short-term financial prospects. 17.3% of consumers expect their incomes to increase, down from 18.2%.
11.5% expect their incomes will decrease, up from 9.9%. Finally, spot the difference in confidence among Americans… Source: Bloomberg Can you tell which is the government-sponsored ‘confidence’ measure and which is the private entity sourced.
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Will America-First News Outlets Make it to 2023?
Things are looking grim for conservative and populist news sites.
There’s something happening behind the scenes at several popular conservative news outlets. 2021 was bad, but 2022 is proving to be disastrous for news sites that aren’t “playing ball” with the corporate media narrative. It’s being said that advertisers are cracking down, forcing some of the biggest ad networks like Google and Yahoo to pull their inventory from conservative outlets. This has had two major effects. First, it has cooled most conservative outlets from discussing “taboo” topics like Pandemic Panic Theater, voter fraud, or The Great Reset. Second, it has isolated those ad networks that aren’t playing ball.
Certain topics are anathema for most ad networks. Speaking out against vaccines or vaccine mandates is a certain path to being demonetized. Highlighting voter fraud in the 2020 and future elections is another instant advertising death penalty. Throw in truthful stories about climate change hysteria, Critical Race Theory, and the border crisis and it’s easy to understand how difficult it is for America-First news outlets to spread the facts, share conservative opinions, and still pay the bills.
Without naming names, I have been told of several news outlets who have been forced to either consolidate with larger organizations or who have backed down on covering certain topics out of fear of being “canceled” by the ad networks. I get it. This is a business for many of us and it’s not very profitable. Those of us who do this for a living are often barely squeaking by, so loss of additional revenue can often mean being forced to make cuts. That means not being able to cover the topics properly. Its a Catch-22: Tell the truth and lose the money necessary to keep telling the truth, or avoid the truth and make enough money to survive. Those who have chosen survival simply aren’t able to spread the truth properly.
We will never avoid the truth. The Lord will provide if it is His will. Our job is simply to share the facts, spread the Gospel, and educate as many Americans as possible while exposing the forces of evil.
To those who have the means, we ask that you please donate. We have options available now, but there is no telling when those options will cancel us. We have our GivingFuel page. There have been many who have been canceled by PayPal, but for now it’s still an option. Your generosity is what keeps these sites running and allows us to get the truth to the masses. We’ve had great success in growing but we know we can do more with your assistance.
Thank you, and God Bless!
JD Rucker