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LWW
08-13-2011, 06:23 AM
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">The Thomson Reuters/University of Michigan's preliminary August reading on the overall index on consumer sentiment came in at 54.9, the lowest since May 1980, down from 63.7 in July. It was well below the median forecast of 63.0 among economists polled by Reuters.

High unemployment, stagnant wages and the protracted debate over raising the U.S. government debt ceiling spooked consumers, polled before the downgrade of U.S. sovereign debt by Standard & Poor's a week ago.

<span style='font-size: 14pt'>"Never before in the history of the surveys have so many consumers spontaneously mentioned negative aspects of the government's role,"</span> survey director Richard Curtin said in a statement. </div></div>

INSOLENT PEASANTS! (http://www.cnbc.com/id/44119138'%20rel='nofollow)