Therefor, consumer confidence is dramatically higher. Human confidence on the other hand is not even on the radar, its not measured, but I suspect it might be dragging a little bit.
The housing market is still bad, and people are worried that inflation is gathering steam. Of course unemployment remains unbelievably high.
I believe the writers at Reuters may have coined a new term - "Consumer Morale."
It reminds me of soldiers weary on the field of battle, their morale low, yet they summon up courage and get back into the fight after a rousing call to valor.
So what's consumer morale?
I was tired, worn out from the mall, my pants were torn and ragged and I clearly needed new ones and really wanted new shoes too. Oh what the hell, money is better, the world isn't ending, I'm going to get back to the mall and buy. Hold my head up and buy.
Reuters: Consumer morale at eight-month high
Economists worry a sustained decline in house prices could impact consumer sentiment, but remain optimistic that this would be offset by the strengthening labor market.
...consumers' expectations for inflation in the coming 12 months rose to the highest since July 2009, a potentially worrying sign for the economy.
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