US Consumer Sentiment Hits All-Time Low as Iran War Drives Gas Prices Higher

JDs Couch

JDs Couch

Well-known member
Americans just loathe this economy.

A closely watched measurement of US consumer sentiment fell to a fresh, all-time low in May, according to the latest survey from the University of Michigan.

The May consumer sentiment index dropped for the third consecutive month, falling to 44.2 and landing below the previous record low of 49.8 set in April.

The US-Israeli war in Iran and its subsequent oil supply crunch and price shocks have worsened sentiment that already was soured by years of high inflation and an affordability crisis.

Consumers’ personal finances sank by 13% in May, she said.

The University of Michigan’s sentiment survey dates back to 1952: Americans are feeling worse now than they did during wars, the 1970s oil crisis, 9/11, the Great Recession, the Covid-19 pandemic and the inflation surge afterward.
 
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I looked up the consumer sentiment index. It's based on feelings. :LOL:

So, while I feel that stuff is too much money now, and people whine about it, I don't recall a time when good stuff was "cheap", just cheaper that the past 25 years. Quality has always cost a lot of money comparable to average incomes. At least, to my average income. Not sure why JD is complaining tbh, he just hit a big job for 40k, and also has voiced not being against paying a few more bucks in taxes for social programs. He's kind of contradicting himself.
 
VonBonfire said:
I looked up the consumer sentiment index. It's based on feelings. :LOL:

So, while I feel that stuff is too much money now, and people whine about it, I don't recall a time when good stuff was "cheap", just cheaper that the past 25 years. Quality has always cost a lot of money comparable to average incomes. At least, to my average income. Not sure why JD is complaining tbh, he just hit a big job for 40k, and also has voiced not being against paying a few more bucks in taxes for social programs. He's kind of contradicting himself.
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All good VB! I'm not complaining at all about my own personal financial situation. The gas prices are annoying for sure but I'm fine. My business has done $180,000 since we started in March. I make a decent living off that and keep 8 others employed at good wages.

But I thought Trump was going to lower prices on day 1, remember? Oh and that pesky Ukraine war was supposed to be over before he even took office 😅.

Anyway. Fuck all that shit, I hope you are doing good man.

We had a great gig on Thursday night. Packed house and a few gig offers coming up!
 
I may bust you alls balls sometimes but in truth I have nothing but love for you guys. I think most of us in here are hard working dudes who would get along over a beer.
 
Floyd Eye said:
Copper ain’t helping. Although I’m making a killing scrapping.
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Probably fueled by the fact they are building a bunch of data centers. I'm guessing a lot of copper is going into those. We also no longer mine and smelt lead in the states either. Not even sure where they get it all outside of recycling or importing.

JDs Couch said:
All good VB! I'm not complaining at all about my own personal financial situation. The gas prices are annoying for sure but I'm fine. My business has done $180,000 since we started in March. I make a decent living off that and keep 8 others employed at good wages.

But I thought Trump was going to lower prices on day 1, remember? Oh and that pesky Ukraine war was supposed to be over before he even took office 😅.
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Well I don't vote for a reason. My main "beef" is with the price of food, lol. I built some additional raised beds and am working on expanding it some more to offset some produce and spice costs in the coming year or two. You can check out my humble setup down in the hobby thread.
 
VonBonfire said:
Probably fueled by the fact they are building a bunch of data centers. I'm guessing a lot of copper is going into those. We also no longer mine and smelt lead in the states either. Not even sure where they get it all outside of recycling or importing.


Well I don't vote for a reason. My main "beef" is with the price of food, lol. I built some additional raised beds and am working on expanding it some more to offset some produce and spice costs in the coming year or two. You can check out my humble setup down in the hobby thread.
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Sweet man!
Grow that food! I just planted some sweet chestnut seedlings and pawpaws that I cold stratified over the winter in my walk in cooler. Nut and fruit trees are the best long term sustainable food sources. Also there are lots of good perennial vegetables like Sunchokes, wild rocket, perennial kales and onions that only need planting once.
 
I planted this and another Heartnut (Japanese walnut type) from seed about 10 years ago. It started producing a few years back and now I get 30 or 40 lbs of nuts per year and exponentially more every year.
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JDs Couch said:
Sweet man!
Grow that food! I just planted some sweet chestnut seedlings and pawpaws that I cold stratified over the winter in my walk in cooler. Nut and fruit trees are the best long term sustainable food sources. Also there are lots of good perennial vegetables like Sunchokes, wild rocket, perennial kales and onions that only need planting once.
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I did plant a couple plums but one of them didn't make it so the other one got large but has never produced otherwise I'd be swimming in them. The tree that survived is probably reaching the later stages of life so I might have to start over. I'm in Texas so peaches and plums do well in the dryer, hotter climate as long as I fence the deer out of them.

My mistake was setting up the garden too far from the house. I grew radishes, okra, and a slew of peppers but the weeds kind of overwhelmed it when I got busy with other more pressing things so I'm in the process of pulling all the soil out of it and moving it into raised beds. I wanna get a couple fruit trees up closer to the house, plus add squash, grapes, an okra bed, and maybe some blackberries. Some of those will require bigger beds. I've knocked out the biggest part of my house project so I have more time. Hoping to get there within the next two years. Then after that I can think about bigger fencing and maybe sheep and a couple goats for underbrush control.
 
VonBonfire said:
I did plant a couple plums but one of them didn't make it so the other one got large but has never produced otherwise I'd be swimming in them. The tree that survived is probably reaching the later stages of life so I might have to start over. I'm in Texas so peaches and plums do well in the dryer, hotter climate as long as I fence the deer out of them.

My mistake was setting up the garden too far from the house. I grew radishes, okra, and a slew of peppers but the weeds kind of overwhelmed it when I got busy with other more pressing things so I'm in the process of pulling all the soil out of it and moving it into raised beds. I wanna get a couple fruit trees up closer to the house, plus add squash, grapes, an okra bed, and maybe some blackberries. Some of those will require bigger beds. I've knocked out the biggest part of my house project so I have more time. Hoping to get there within the next two years. Then after that I can think about bigger fencing and maybe sheep and a couple goats for underbrush control.
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Good observation! I studied permaculture design and one of the early principles we learn is zoning: (Not all sites will have all the zones)
Zone 1 is the area closest to the house, where you will want to interact multiple times daily. Raised beds, herb gardens, things you will weed and pick regularly go here.
Zone 2 is the next zone out, things you will tend daily but may not want right next to the house. Chicken coops, larger veg beds, etc.
Zone 3 is longer term veg beds and fruit trees, etc.
Zone 4 would be things that require less interaction like nut trees, larger livestock, a woodlot managed for lumber or firewood etc.
Zone 5 is untended nature. Even the smallest parcel should have at least a small section of this. Here you let nature take its course and only observe. This is an area for meditation, prayer, learning, and getting in touch with the spirit of the land, the Tao, Prana, Atman, whichever of the thousand names of God one prefers.
 
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