This is about as surprising as the unemployment rate magically dropping under 8 percent so close to the election:

U.S. consumer sentiment unexpectedly rose to its highest level in five years in October as consumers became more optimistic about the overall economy in a possible boost to President Obama’s reelection hopes next month.

The Thomson Reuters/University of Michigan’s preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, and the highest since September 2007, the survey showed on Friday.

It was well above the median forecast for a slight decline to 78 among economists polled by Reuters.

The new buoyancy among consumers comes shortly after the U.S. unemployment rate tumbled to its lowest level in nearly four years in September as more people returned to the workforce and found jobs than economist had predicted.

Read what you will into this sudden appearance of good news for Obama, but it’s worth noting that this survey is from a company called Thomson Reuters, which has a CEO who is an Obama donor:

reuters

As a matter of fact, the company is loaded with Obama and Democrat donors. Check it out for yourself. Go to OpenSecrets and type “Thomson Reuters” in the employer search box. Search for 2008 through 2012. The search I did returned 395 donations from Thomson Reuters employees totaling around a quarter million dollars, including the above Obama donation from their CEO. There are a scant few Republican donations in the mix, but for the most part it looks as if probably around 90 percent of donations from Thomson Reuters employees went to Obama, other Dems and prog PACs.

Nope, no chance of any bias from this survey.

Update: Earlier I got an email positing a different theory: Maybe the above data isn’t fudged at all and consumer sentiment is actually going up because Americans are sensing The One might be leaving the White House soon. Something to think about.

Comments

14 Responses to “Consumer Sentiment Rises to 5 Year High… Unexpectedly…”

  1. SignPainterGuy on October 12th, 2012 9:07 pm

    Dang, where did I put my surprised face ? I can`t even manage an imitation one !

    Yesterday, I took a survey call; the usual, "Will you vote in the upcoming election ?" YES, absolutely !
    "If the election were held today, would you vote for Obama or Romney ?" Without a doubt, ROMNEY !
    "If the …….. D Gnvr. candidate or R Gvnr Candidate ?" R !
    It appeared to be a D-leaning polling org, the Ds were always first and the black lady voice was not pleased with me; she couldn`t hide it. I suspect she`d been getting a lot of that !

  2. archer on October 13th, 2012 12:26 am

    “…sentiment…??”

    Interesting choice of words, “sentiment.”

    If the person in the next cubicle looked over the partition and asked you about your “consumer sentiment” wouldn’t you wonder what they’re asking? Wouldn’t you ask, what do you mean?

    Who talks like that?
    Spin doctors.

    As a wise man once said, “you keep using that word, I do not think it means what you think it means.”

    The article went on to explain that “…consumers became more optimistic.” (Except when it comes to the Chevy Volt) Do you wonder why they didn’t use the term “optimistic” in the title of the report? I think it would have had a greater impact.

    Do you smell something?

    Move along, nothing to see here.

  3. Marshall_Will on October 13th, 2012 12:58 am

    Notice ALSO the imperative to cook a number.., fabulous enough to encompass even a year that includes (1) of GWB's! Yeah, makes perfect sense…

    Ahem, outside of Extreme Bubble Markets, Housing in FL, NV and huge swaths of Cali, the avg. American hadn't really been exposed to all that much downside in their primary residence. ( If at all? )

    While the stock market had sold off 'some', it wasn't until very late in '08 when the bleeding looked out of control. But most importantly, NO ONE had gotten laid off yet! Outside those in Const., realtors etc. virtually none of us had been pink slipped.

    There's cooking and then there's COOKING! I like the 'theory' as much as the next guy BUT w/ Gas spiking to $5.69 in Cali a week ago today..? What's that do for ya'll's 'sentiment'?

  4. SignPainterGuy on October 13th, 2012 12:59 am

    That wise man was Mandy Potemkin as Enigo Monyoya in "Princess Bride". I`ve used that quote often; the left mis-uses words frequently.

    Americans are a resilient lot, they work hard, save and scratch together the money to buy what they need and / or want. It keeps the numbers up so those who need to paint a rosey picture are able. It shouldn`t be mistaken for improving economy !

  5. Marshall_Will on October 13th, 2012 1:24 am

    SPG,

    Much to our CREDIT! Our Base often gets asked to do things at the last minute and tonight it was chain ganging for the HS football game. Something I'd never done before. The sheer HEART those kids play with and their willingness to sacrifice and be team players didn't go unnoticed.

    But.., but… this bit of research Doug has done is QUITE disturbing. In all the years I've worked around Finance, Thompson Reuters was among the most objective and the most RESPECTED.

    Apparently, like Moody's, Fitch and Standard & Poors, they TOO are For Sale! to the highest bidder. They've been thoroughly infiltrated by clever Progs w/ big ideas, that couldn't find their @$$ in a phone booth w/ booth hands. Another American institution falls… Truly freakin' sad.

  6. jeffythequick on October 13th, 2012 1:25 am

    More Unexpected Great News!

    My unicorn farted and I can run my car on it, and it goes 2 billion miles per fart!
    My kids bought me a Ferrari, just because!
    I just ran a marathon in 15 minutes and 12 seconds.
    I just got a total home makeover and they made me a 12 s tory house with a simultaneous ocean, mountain, forest, and desert views!

    I need to stop this before my kids get a concussion from the raining candy at the house.

  7. Marshall_Will on October 13th, 2012 1:33 am

    Jeff,

    Had I been worth a hoot at what Michelle M describes as a "video content provider" ( I'd have been doing The World's Most Arrogant Man vids 3 mos. into O'Drama's Reign of BS)

    Btw, Did'nt you once run a marathon backwards.., just to see what 2nd Place looked like?!

  8. SignPainterGuy on October 13th, 2012 1:56 am

    And no doubt, bigfoot takes pictures of HIM ! ;-)

  9. SignPainterGuy on October 13th, 2012 2:08 am

    AP (Admin. Press) has been in the bag forever, Reuters has been suspicious for me for some time and UPI was at last word (a few years ago) the last trustworthy-ish news-press org going. (I`m sure there are orgs I`ve never heard of)

    The taint is spreading quickly !

  10. Marshall_Will on October 13th, 2012 2:23 am

    Can't recall her exact description but MM has referred to them as AP/Obama Staffers ( or words to that effect )

    The market potential for Conservative Just-a-bloggers is limitless because as fact-seeking, aware readers continue to abandon the LSM as they wither on the vine, smaller but dedicated news outlets can't HELP but gain market share.

    Pasadena Phil and I have often talked about how while losing a few hundred million here and few hundred million THERE really is no skin off say Merill Lynch's nose.., it's a tremendous shot in the arm for us independents!

    And everyone moves up. Joyanna Adams has finally… gotten some recognition for the wonderful coverage she's been providing and it really shows! MM added (10) staff writers this year! I'd imagine in time, they'll be ref. to as her "core people" among hundreds. Look, we didn't 'choose' this. It's the hand we were dealt and are rebelling the only way we CAN.

  11. SignPainterGuy on October 13th, 2012 2:52 am

    AFAIC, MM can`t receive too much recognition, or early enough ! She continues to do uniquely great work ! Doug is well positioned as well !

    Joyanna HAS improved her place with the w/s makeover. I don`t visit like I did, I should renew that, she does cover a wide range in her own unique NOBODY fashion !

  12. Marshall_Will on October 13th, 2012 3:38 am

    I think in M's case, it was a matter of keep plugging away! and whether you're a builder, bankruptcy atty. or conservative author, the right market forces align and ( as is typical w/ small/jealous people ) they'll leap out of the bushes to declare you "an overnight success"?

    I've known guys that specialized in being hotel brokers. It was almost like they'd be 'dormant' for years and years and they'd keep up their contacts, hitting the road and making the rounds. Then suddenly..? A multi-million dollar to DIE for year!

    Ahem, AFTER that year, guess what? Everyone wants to be a motel broker!!! Then you have to wait out all the faint of heart/sunshine soldiers etc. I've had so many friends that were STOCK brokers in the 90's ( MORTGAGE brokers during the housing boom ) and NOW they 'specialize' in short sales and cashing in on misery.

    I call them "The Momentum Players". Never met a latest thing/easy money they couldn't fall in love with! The big advantage Bloggers have is, at least at present, there is NO regulation about setting up a pol. website. So.., the guy that hangs your gutters needs all kinds of lic. bonding, insurance, but MoveOn.org can post blatant LIES without the slightest fear. It's the ONLY reason RW sites are 'tolerated'.

  13. SignPainterGuy on October 13th, 2012 3:24 pm

    How does that Sesame Street ditty go, "One of these things doesn`t go together .." ?

    "Unexpectedly", we hear that consumer sentiment is up, unemployment is down (just in time for the re-election hopes of Dear Leader) and in my local paper today appears the headline, "Market Has Its Worst Week Since June" !

    "….One of these things is not the same".

  14. SignPainterGuy on October 13th, 2012 3:44 pm

    RE: Update: As I said earlier, Americans are a resilient lot. They, WE, have been looking for what is coming around the corner, down the road, what can we expect next. This admin. has been high on promises, but low on delivery. We have gotten so many mixed signals, it`s been impossible to prepare for the future and too scary to take a leap of faith.

    Now that it looks like we will finally have a WH that understands biz and will help to get gov. out of the way, consumers are chomping at the bit to get back to normal ! I know I am !

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