Consumer Confidence Tanks

In not so surprising news consumer confidence tanked at 46 versus 56.5 from last month. Not that I believe that they ever do these surveys in the right regions, but this is not surprising at all. I guess this time they did not go to the Wall Street heavy neighborhoods to check if people were feeling fine. Unemployment is high and rising. People's buying powers and living standards are falling. Stock market rise only helps very few people who do not really need the extra income anyways. So the "recovery" that people have been talking about which refers mostly to the stock market is meaningless. GDP rising from horrendous levels is meaningless as well as long as it is not widespread among the people of the country. GDP percentage increase is a silly metric to put too much importance to and to follow by elected governments that are supposed to be serving the people of this country. They should target living standards and take out the outliers while evaluating the average. Markets of course should tank on the new "realization" that this 70% consumer economy is not doing well at all. On the contrary it is doing worse each passing day.