U.S. Economy: Consumers Aren`t Confident

This was the lowest level for Consumer Confidence in 14 months. The Federal Reserve is just getting ready to raise interest rates as the economy is supposedly ready for it yet consumer confidence is at 14 month lows.

Consumers were a lot more confident 14 months ago when the Federal Reserve said they could not raise interest rates but now they are saying, "Everything is perfect, we are going to raise interest rates" and they are getting economic data that suggests that thy should be doing the opposite!

Corporate Profits Are Declining

Buried in that GDP report were some other very bad numbers. For example, there was a 4.7 percent decline in corporate profits during the quarter. That is the biggest decline in corporate profits since 2009!