The first entirely post-election reading from the University of Michigan-Thomson Reuters consumer confidence survey came out on Friday. It was awful. As reported at MarketWatch, the overall index "fell to 74.5 from 82.7 in November," far below expectations of 82.0, representing "the biggest one-month drop since March 2011." Zero Hedge noted that it's the "biggest miss on record" compared to expectations.
Of course, in Establishment Medialand and with the analysts they chose to consult, the plunge has everything to do with the "fiscal cliff," and nothing to do with the reelection of President Obama to a second four-year term or his intensely partisan conduct since then. Sure, guys.