In economic reports, to put it simply, there is hard data and soft data. Perhaps nothing is softer, or more unreliable, than the so-called University of Michigan Consumer Sentiment Survey. However, it does have one important purpose: demonstrating how Dems are against America, and success in general.
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The squishy report was just released for July, and it showed a robust uptick, rising a giddy 11.5% from the previous month, and besting estimates. Joanne Hsu, director of the superfluous survey, provided some context, with a slightly negative slant.
The slant from the MSM was less subtle. For instance, CNBC (which often quotes MS Now), added this (scroll down to the entry titled “Sentiment improves in University of Michigan consumer survey”):
“Despite recent gains, sentiment is 11% below a year ago, reflecting a generally somber view of the economy amid five years of elevated inflation and persistent high prices.”
Such negative cherry-picking from a much longer quote from Joanne is further evidence (if needed) of politically-motivated bias. Please bear with me as I believe what I’m about to present is astonishing…
First, the obvious: Survey participation skews toward Democrats.
Now the astonishing part (which I guess is also obvious in hindsight if one is inured to Dem anti-Americanism).
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Here are the trend lines for the Michigan Consumer Sentiment index by Political Party. Focus on the period from mid-2020 through 2021, which coincides with Dr. Death’s girlish diary entries: Sentiment among Dems surged; sentiment among Republicans plummeted. Thereafter, the lines jiggle around a bit, but Dem sentiment fluctuations remain highly elevated compared to Republicans. Then, in late 2024 when the Golden Age of America commences, Republican sentiment is hotsy-totsy, while Dems are proportionately despondent.
It can be tempting to succumb to conspiracy theories, but this is further evidence that Dems really don’t want America to be successful.
These squishy sentiment reports may provide contrarian investing opportunities (when sentiment reaches deep lows, it may be a time to deploy more capital). Nonetheless, one can reasonably glean this: while Dr. Death was snuggled up to and making perverted love to his diabolical diary, and while the economy and our lives in general were locked down, the sentiment among Dems was perky, as reflected by their consumer sentiment.
During COVID, Americans suffered immensely in all realms of life (if they were fortunate to survive), including economically, as pop-and-mom businesses (they did build it — as a labor of love as well as for decent profit) were shuttered Gestapo-style. Yet, consumer sentiment among callous Dems remained incongruously elevated when contrasted to that of Republicans.
It is probably unwise to make economically related decisions based on the Michigan Consumer Sentiment survey. One useful purpose it does serve is highlighting how Dem sentiment thrives when America dives.
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