chart via FusionIQ, Bloomberg
The Conference Board reported Consumer Confidence Index for
October hit a record low of 38.
bullish reversals in the stock market? To decide, have a look at the following
quick-and-dirty overview (which includes all data going back to the Feb-67 start
of the confidence series):
(*Note: Interim low – market was already in a secular upswing.)
Consumer confidence readings that were closest to the latest reading.)
Table via Mike Panzner
The Case-Shiller Home Price Indices data through August 2008 shows "continued broad based declines in the prices of existing single family homes across the United States, a trend that prevailed throughout the first half of 2008 and has continued into the second half."
Nine of the 20 regions have record annual declines. Phoenix and Las Vegas are now returning -30.7% and -30.6% versus August 2007, respectively. Each of the California markets- Los Angeles, San Francisco, and San Diego- are down more than 25% from their values 12 months ago. Miami and Tampa, the two Florida markets, are down 28.1% and 18.1%, respectively.
August 2008 Home Price Index
Category: Real Estate
Bill Moyers talks about the economic future with with James
K. Galbraith, Lloyd Bentsen, Jr. Chair in Government/Business Relations
at the LBJ School of Public Affairs at the University of Texas at
Austin. Galbraith is the author of six books, the most recent, The Predator State: How Conservatives Abandoned the Free Market and Why Liberals Should Too.
Bill Moyers Journal
PBS, October 24, 2008