CNBC Admits Economic Pessimism Surged To 2 Year Highs

You know it’s getting troubling when everyone’s favorite hopium-providing financial-advisor-pitchfest channel is unable to find a silver-lining upon which to place your BTHFATH 401(k) bets. Steve Liesman unveiled the CNBC All-American Economic Survey and it was not pretty. In a nutshell, optimism is plunging and pessimism is surging as 61% are downbeat on the current state of the economy and pessimistic for the economic future.

 

 

Via CNBC,

 

Smaller expected gains in Americans’ paycheck and housing values cast a pall on sentiment in the quarter and reversed a brief blip of optimism measured three months ago. The survey found that middle class attitudes registered some of the biggest declines.

 

The percentage of white collar workers who believe the economy will improve in the next year declined 18 points compared to the second quarter, three times the decline for all adults.

 

 

More significantly, just 34 percent of respondents expect any increase at all in their paychecks, compared with 41 percent a quarter ago.

    



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