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Economic Pessimism Near 2-Year High

Expectations about the nation's economy are now as low as they have been at any point since October 2005, and the Post-ABC News Consumer Comfort Index remains mired in negative territory.

Fifty-seven percent of Americans now say the economy is getting worse. That's a 23 percentage point jump in pessimism since the beginning of the year, and nearly as high as the dour economic assessment that followed the Hurricane Katrina disaster in late August 2005. Only 15 percent say the economy is improving; a quarter says it's staying about the same.

And current sentiment is no more rosy. The Post-ABC CCI registers at -11 on its scale of +100 to -100. Three weeks ago, the index had reached up to -5, before its recent skid. The new rating is also off the average for the year, -6, and right around the CCI's long-term average, -9, in weekly polls since 1985.

Click here for more on the Post-ABC CCI.

By Jon Cohen  |  August 15, 2007; 10:02 AM ET
Categories:  Post-ABC Consumer Comfort Index  
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Comments

Jon:

Great article, and must say not sure how you or other journalists can make the same old same old appear to be interesting and fresh week in and week out, century after century.

What I mean is nothing has really changed in human history besides the speed of communication and transportation since ancient Rome.

Until now that is.

Robots and computers can today do everything human laborers can do, including the so called professional classes of doctors, lawyers, CPAs, professors, even journalists etc.

What this means is that, if we play our cards right, we can ALL be out of a "job", and believe it or not this is EXCELLENT news !!!

For the first time in human history, we can create a truly WAGELESS ROBOTIC Economy when coupled with GEOTHERMAL Energy, and from this day forward, all premises that articles like yours for example depend on, will change, and fresh air can be breathed back into what it means to be a human.

Sure there will be new dramas and tragedies but they will be of an entirely different sort once ALL humans are emancipated from the machinery of economy via the Robotic Wageless GeoThermalEnergy Economy, as only 0.5 % of the population has ever been, who until now did so, as it was the only way, on the backs of 99.5% of the rest, who were and still are little more than human robots, i.e. slaves, serfs, etc.

Okay, if this sounds so different from what you have heard this is for good reason, as real change and real answers to age-old seemingly unsolvable problems are of course as disorienting as news that we could fly were at that time, only 1000's of times more powerful is this news, and for some, equally hard to fathom what it really means.

For now, please check out this site and share your thoughts please:

http://TeamInfinity.com/ROBOTIC_WAGELESS_ECONOMY_nehocj

and the FAQ: http://TeamInfinity.com/writings/MagnaCartaFAQ.shtml

Thanks Jon ! sysop@TeamInfinity.com

Posted by: System Operator | August 17, 2007 4:12 PM | Report abuse

You bet the ecomny is bad. I use to have renters that paid rent now its a struggle for them. My 26 year old works steady for the same company but its tough for him to make ends meet and he has a roommate and is not in debt (which is a good thing). Many people judged Mr Clinton on his personal life but he was a damn good president and we were all in a lot better shape than we are now. My husband and I make very good money but our lifestyle has changed because everything has gone up and this president has done nothing to stop it. Something needs to change but as long as there is policitics and lobbists nothing will.

Posted by: Lynne | August 21, 2007 11:50 AM | Report abuse

Even though the following news sounds like bad news, i.e.

Walmart CEO says...


"Customers are Running out of Money !!",

...it is actually good news in ways you may find counterintuitive.

This was from a recent NY TIMES article, August 15, 2007.

Here is a link to the story with commentary regarding why it is actually good news...

http://TeamInfinity.com/Communique_12539.html

Please keep in touch: sysop@TeamInfinity.com

Posted by: System Operator | August 23, 2007 3:45 PM | Report abuse

Economy has totatlly tanked. International respect for the US has dropped horribly Are the politicians inclduing dems or republications doing anything. We have $200K salaried person in the State -- what has she contributed since her appointment. Our respect globally is so tarnished that a sustained compaign by the politicians is sorrely needed.

Posted by: SG | August 24, 2007 8:08 AM | Report abuse

The "Lazy Man's" economy has definitely tanked.

People who want to move into a house with negative equity, and expect appreciation, or investors in "safe" stocks such as the DOW, or big tech like AAPL, GOOG or MSFT are not going to get something for nothing anymore. Likewise, XOM isn't going anywhere and is probably heading down (I'm calling oil at $35/brl by EOY).

This is an era where the economy is basically solid and stable. It is an era where hard word, for once in decades, can probably make you more money than day trading stocks on tips and hearsay rather than value. It make become one of the best eras for simple labor, construction, or even unskilled labor, especially in repair.

The stocks that are rising are real innovators like First Solar (up 3x YTD). I see growth in the smaller, cheaper, faster moving companies in Linux, Web 2.0, solar, fuel cells, hydrogen, nanotech. But, again, no free lunch, no easy mutual funds -- investors will have to do the brainwork to separate the wheat from the chafe.

The next "Bill Gates" may not be a four-eyed geek sitting behind a computer; he may be a guy hauling stuff in his pickup truck.

Posted by: John Bailo | August 25, 2007 10:28 PM | Report abuse

We haven't run out of money, the *ush Administration has taken ALL of what we have earned for the Croc Dung war.

Only the crony sycophants hold the golden tickets

Posted by: smtpgirl08 | August 29, 2007 10:25 PM | Report abuse

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