Consumer confidence

The Conference Board publishes regular survey results that it commissions to measure "consumer confidence." 50 is neutral, 100 is where consumer confidence was in 1985, the index was started in 1967. The February survey registered its lowest reading ever, 25.0.

Notable past numbers and geo-political benchmarks- Nixon's resignation- 91; Berlin Wall came down 115.1; Lowest during the Iranian hostage crisis- 50.1 (May, 1980), 9/11- 85.3; the low of the mid-70s recession- 43.2. "Whip Inflation Now"

In my business I talk with a cross-section of America. Increasingly, there seems a broad consensus that "the fix is in." People are increasingly feeling that the playing field is rigged and that crooks have made a lot of money (arbitragers, bankers, oil and gas) and most of us are just fuel for their game. "Buy and Hold" is wiping out our net worth.

Did I mention the stock market was flat- no gain between 1966 and 1983.

The only hope I have is the old wisdom that the market doesn't turn until all the news is bad and all the optimism is wrung out. I think we're there. Turn, market, turn.

The last year on the Mayan calendar is 2012.