Consumer Sentiment Reaches 28-Year Low

While the Conference Board Consumer Confidence Index is at a 16-year low, the University of Michigan Index of Consumer Sentiment is at a 28-year low (PDF). The index registered 59.8 for May. The last time it was this low was the 58.7 of June 1980, just a year after the stagflation-driven 44.1 of June 1979. I would say it might also be time to bring back another vestige of the era, a disco inferno, except all those polyester suits could probably be better used as an alternative energy source.

(Photo: Getty)