Consumer Sentiment Index Declines To 1982 Levels

US consumer sentiment fell more than expected to levels not seen since 1982. Are things really as bad now as they were when Olivia Newton-John's hit "Physical" was the number one song? It's true that it if you are an average American, the value of your house has declined, it costs you $3.50 to fill up your gas tank, and Costco just put the kabosh on your plans to pay the bills by stocking up on extra bags of rice and flipping them to your neighborhood Asian restaurant with a 50% mark-up. But 1982? Come on! Let's just get a bit of perspective. Interest rates in 1982 were in the double digits. Inflation was running at 6.16%. The first CD player was sold in Japan. And Times "Man of the Year" was THE COMPUTER. We didn't have personal computers, cell phones, voice mail, text messaging or DVD players. Al Gore hadn't even invented the internet. What did people do all day? I, for one, was playing Michael Jackson's "Thriller" album over and over again. Would anyone else like to share a touching personal story?