Consumer confidence has fallen even further now and Conference Board data due later this month could be even weaker than current forecasts indicate, according to new reports.
According to Consumer Edge Research, the Consumer Economic Index is now at 45.4, down 10 percentage points from July and down 1.5 points from the 46.9 level reported on August 10.
The 45.4 reading is the lowest since Consumer Edge Research began its index in March 2010.
While all this is happening, President Obama continues his vacation on cushy Martha's Vineyard, the exclusive Massachusetts island that place host to the rich, powerful and influential.
The president has been swimming, golfing and reading mostly fiction.
Yesterday, with Cherished Friend and Number One Confidant Valeria Jarrett in tow, the president's motorcade took a ten minute ride along unpaved roads to the lush hideaway of Comcast/NBC/MSNBC honcho Brian Roberts where Obama & Co. dined.
Blast corporate execs, super-millionaires and big time barons one day; dine with them in ultra-private digs the next.
Ahhhh . . . what a life!