Star News

U.S. consumer confidence slipped throughout the month of October as Americans fretted about personal finances and focused on paying down revolving debt. The University of Michigan's Survey of Consumers Index slipped 2.9 points in October to 70.6, from 73.5 the previous month. In spite of the decline, sentiment remained well above where it had been one year ago. In November 2008, the index had collapsed, mirroring its worst reading of 55.3 in 1980. The majority of U.S. consumers reported their finances worsened in October for the 13th consecutive month.

Further data indicates a continued decline in the index of consumer expectations from 73.5 to 68.6; with half of those surveyed expecting the unemployment rate to remain close to its current level of 9.8 percent; a 26-year high. Inflation expectations picked up, with the 1-year inflation outlook rising to 2.9 percent, up from 2.2 percent in September. Consumers´ five-year inflation expectations increased from the 2.8 percent reported in September to 2.9 percent for the month of October. We will keep you posted…

Hot Money
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Helpful Humor

The best antidote for those challenging transactions is to take a moment to have a hearty laugh. Helpful humor is our way of infusing laughter into your work-week

“Poker-Playing Canine”

A man walks into a bar and notices a poker game being played at the far table. Upon taking a closer look he sees a dog sitting amongst the players at the table. This piques his curiosity and as he walks closer, he observes cards and chips in front of the dog. The next hand is dealt and the dog is included amongst the players. The dog acts in turn with all the other players: calling, raising, discarding. However, none of the other players seemed to pay much attention to the fact that they were playing with a dog. They simply treated him like any other player.

Between hands the newcomer quietly said to one of the players, “I can't believe that dog is playing poker, he must be the smartest dog in the world!”

The player smiled and said, “He isn't that smart. Every time he gets a good hand, he wags his tail.”