Ok, so this is all over the place this morning (i.e. I’m hardly the first one to comment on it), but after Wednesday’s post I’d be remiss if I didn’t mention it.
So yesterday in my recap of the stellar Consumer Confidence number, which printed at its highest level since 2001, I led with the following:
Thank You Mr. Trump: Consumers Are Confident As Hell https://t.co/xHGTDhKZqi
— Heisenberg Report (@heisenbergrpt) December 27, 2016
In that post (which was dripping with sarcasm), I put forth a suggestion:
I’m really not sure why the Conference Board even bothered with the latest reading on consumer confidence. I mean really, all you needed was the tweet shown above to know how the nation is feeling, right?
In fact, why don’t we just eschew the data altogether and collectively tune in to the new president’s Twitter feed at prespecified times? Trump could then just wet his finger, stick it in the air, and tell us which way he thinks the proverbial wind is blowing.
Well sure enough, Trump just couldn’t help himself. Apparently oblivious to the cynicism inherent in posts like mine, the President-elect did what you might have expected him to do: he thanked himself…
The U.S. Consumer Confidence Index for December surged nearly four points to 113.7, THE HIGHEST LEVEL IN MORE THAN 15 YEARS! Thanks Donald!
— Donald J. Trump (@realDonaldTrump) December 28, 2016
… which of course prompted all sorts of hilarious responses like these…
to himself (again): "You and only you are responsible for anything positive in the economy." pic.twitter.com/p8qCl0u4Vi
— Erick Fernandez (@ErickFernandez) December 28, 2016
This guy @realDonaldTrump is out of his mind. "Thanks Donald!"? Seriously? Not "Thanks – Donald" or "My thanks" – HE'S THANKING HIMSELF pic.twitter.com/6kbsAzmRyk
— Keith Olbermann (@KeithOlbermann) December 28, 2016
So there you go – you’re welcome America.
Consumer confidence and or the reading of it are notoriously and demonstrably wrong. “Highest since 2001…” really, wasn’t that when Dot.Com bubble began to collapse? So, much for consumer insight. If you think about it, consumers are mostly reactionary, spending previous earned income, so any economic confidence they might have is backward looking at best.
Tell you what we should just cancel the 2020 election right now!!!!