Happy Times Are Here Again: Consumer Confidence Roars to Dot Com Era Levels

What does it all mean? How can consumer confidence register an astounding 125.6 reading when retail is in the pits? If people are confident, then what the fuck are they buying and where?

Aside from $AMZN, the only online destination that I hear people talking about is $W. I used to buy stuff from $OSTK and was always pleased with their service. Truth be told, I like to see things in person these days and do most of my shopping locally.

I think the consumer confidence numbers are indicative of an enthusiasm that had swept the country for the first time in nearly 20 years. Americans like nationalism. All true Americans love hearing about our greatness, even if it isn’t true.

Who doesn’t love a fairy tale? Beauty and the Beast is #1 in the box office for the past two weeks, bullish for $RGC.

“Consumer confidence increased sharply in March to its highest level since December 2000 (Index, 128.6),” said Lynn Franco, Director of Economic Indicators at The Conference Board. Consumers’ assessment of current business and labor market conditions improved considerably. Consumers’ also expressed much greater optimism regarding the short-term outlook for business, jobs and personal income prospects. Thus, consumers feel current economic conditions have improved over the recent period, and their renewed optimism suggests the possibility of some upside to the prospects for economic growth in the coming months.”

Chart stolen from Zerohedge