Jeez, what a triple shot (to the groin) today:

1. Consumer Confidence new low

We hit a new all-time (started in 1967) consumer confidence low of 25... way lower than estimates going into today.

Link: finance.yahoo.com/news/Consumer-confidence-plummets-apf-14451578.html

Nice graph: bespokeinvest.typepad.com/bespoke/2009/02/consumer-confidence-worst-on-record.html

Consumer Confidence 022809


2. Home prices - record drop
Another record drop here as well (started 21 years ago).
Home prices are down 26.7% since Q2 2006 peak.

Link: finance.yahoo.com/news/US-home-price-drop-at-record-rb-14450500.html


3. Helicopter Ben

QOTD
"If actions taken by the administration, the Congress, and the Federal Reserve are successful in restoring some measure of financial stability -- and only if that is the case, in my view -- there is a reasonable prospect that the current recession will end in 2009 and that 2010 will be a year of recovery."
- Benranke today before Congress
Link: finance.yahoo.com/news/Bernanke-sees-chance-of-rb-14452295.html

"If"... that's "talking up" the markets, Uncle Ben?
Jeez.
Darkest before the dawn? Or just going to get darker?
jeez again... yow, bill

Labels: ,