Consumer confidence declined in October for the third straight month. I’m not aware of any economic data that would explain that deterioration, coming on the heels of a steady climb. The most obvious explanation is that the Presidential campaign to responsible:
Michael P. Niemira, chief economist at the International Council of Shopping Centers, said that if the report’s results reflect simply a political statement, it is less worrisome for the holiday season or for the overall economy.
Deteriorating job expectations “could be tied to a vision of what the economy might be six months down the road, shaped by how effective Senator Kerry’s message is — whether you agree or not,” he said.
I think the problem is not that Kerry’s message is especially effective, but that it is constantly parroted in the mainstream news media. Should Kerry win the election, the economy will improve in a hurry.