Not for nothing, but the USA is a country of ~120 million consumers, as defined by the term. And the UoM report is..."Survey of about 500 consumers which asks respondents to rate the relative level of current and future economic conditions..." Seriously? Investors and traders are basing their outlook of future spending by the bulk of the country on 500 responses? What is the margin for error here, like 4,000,000%? It is astounding, this level of flom.
That's a really good point vanzandt. I'm sure its common knowledge, but I never did really think about it. Is there a chart of like, let's say, all U.S. equities year over year going back a good ways? I wonder how it compares to the ones that selectively pick the winners.