Gas prices are not going down. Credit is tightening.

Inflation is consistently understated.

This is sanity entering the American psyche.

Consumer sentiment sinks to 10-month low

June index fell more-than-expected 83.7 on higher gasoline prices.
June 15 2007: 11:05 AM EDT

NEW YORK (Reuters) — U.S. consumer sentiment dropped unexpectedly sharply in June to its weakest in 10 months, as high gasoline prices dampened consumers’ mood.

The Reuters/University of Michigan Surveys of Consumers said the preliminary reading on the June consumer sentiment index showed a decline to 83.7 from 88.3 at the end of May.

The decline was much sharper than predicted by economists, who had forecast a median reading of 88.0 in a Reuters poll.

The decline was “hardly surprising,” the survey said, however, noting that U.S. gasoline prices have topped $3 per gallon for six straight weeks.