What is probably just as interesting, is that when it comes to trusting the Fed: that source of unlimited liberal policy, Democrats, as is to be expected, are far more confident that the Fed can keep inflation under control. Or, in other words, have faith that it can do anything at all correctly: a faith that has long since been lost virtually in every other segment of society. Not surprisingly, those whose money is in the market, and are invested in the US, are also hoping the Fed knows what it is doing. Then again as we presented recently, this is a very paltry number on a relative basis, one can see why the bulk of the population is starting to loathe Bernanke and all he represents with a vengeance:
Democrats hold more confidence in the Fed to keep inflation under control and interest rates down than do Republicans and adults not affiliated with either major party.
Investors are slightly more confident than non-investors that the Fed can handle both of these matters.
But strong majorities of adults from all demographic groups agree they are paying more for groceries now than they were a year ago.
These findings add to a string of survey findings showing very negative perceptions of the economy among Americans.
Confidence among Americans in the stability of the nation’s banking industry has hit rock bottom.
Overall consumer confidence as measured in the Rasmussen Consumer Index is now hovering above the lowest levels of the post-9/11 era.
The latest Rasmussen Reports national telephone survey of American Adults shows that just 31% are at least somewhat confident that the Fed will be able to keep inflation under control and interest rates down, and that includes only eight percent (8%) who are Very Confident. Sixty-five percent (65%) are not confident the Fed can keep inflation and interest rates under control, with 25% who are Not At All Confident. (To see survey question wording, click here.)
Prior to the latest survey, overall confidence in the Fed to handle inflation and interest rates ranged from a low of 32% to a high of 41%. The number who hold no confidence at all is now at its highest level in nearly two years.
Texas Gov. Rick Perry took a double-digit lead over former Massachusetts Gov. Mitt Romney and Rep. Michele Bachmann (R., Minn.) in a Rasmussen Reports survey taken Monday night, two days after Mr. Perry joined the race.
The poll showed Mr. Perry, who entered the race on Saturday, had the support of 29% of likely GOP primary voters, while Mr. Romney had 18% and Ms. Bachmann, who won the Iowa straw poll, garnered 13% of the vote.
Scott Rasmussen, the founder and president of the polling firm, attributed Mr. Perry’s high marks in part to excitement surrounding his entry into the race.
“Gov. Perry is enjoying a bounce from entering the race at precisely the right time,” Mr. Rasmussen said in a summary of the poll. “Now the difficult part begins for the new frontrunner. It’s much easier winning support when people are hoping you will get in the race, than retaining support when you are the frontrunner.”
The take home message here is that i) deflation, especially for things that people need, is rampant, ii) everyone loves the Fed, and iii) sarcasm is a popular trope on the pages of Zero Hedge.
h/t John Lohman
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