Ok, MSM, which is it?

[doc_strange]

Today, Reuters informs us that US Consumer confidence dipped, and rose for the first time since 2007. Uhhhhhh. OK. I guess the 5 or so consumers asked by each bureau had different opinions.

Global shares retreat, Aussie dollar slides
Wed Oct 28, 2009 6:55am EDT
By Emelia Sithole-Matarise

LONDON (Reuters) - World stocks slid on Wednesday on worries about the pace of economic recovery after a dip in U.S. consumer confidence, while the Australian dollar fell as inflation figures pared bets on an aggressive rate rise.

aaaaaannnnnnd.....

U.S. consumer confidence up for first time since 2007
Wed Oct 28, 2009 7:57am EDT
By Susan Fenton

HONG KONG (Reuters) - Global consumer confidence is rebounding, and in the United States has risen for the first time since 2007, amid signs the world economy is picking up although spending is still restrained, a survey showed on Wednesday.

OMG! Send lawyers, guns... and EDITORS.

I could read these generously to mean there was a dip some time ago, and it's only one survey that shows the rise in US consumer confidence, but frankly if you already have to know the news in order to read it, a fault condition has been met.

Comments

[apostle-of-eris.livejournal.com]

I'm intrigued that the word “fundamentals” has completely dropped out of the pop economics lexicon.
Let's see . . . real unemployment (U6) is up to 1/6 (17%).
All those toxic mortgages are still toxic, and there are enough more scheduled to reach their implode date that they will not subside for another year . . .
A reasonable price/earnings ratio for a stock is a little less than 20; the P/E of the S&P 500 was over 130 the last time I looked . . .
Before the crash, "financial services" produced about 40% of the corporate profits in the country . . .

I'm very curious who the consumers are whose confidence is rising. I'm pretty sure the million whose unemployment compensation will run out between now and the end of the year aren's among them . . .

[docstrange.livejournal.com]

They are very confident they can continue to spend money they do not have.