Despite near-record high equity prices, it appears soaring gas prices, stagnant incomes, and unaffordable homes are weighing on the American consumer far more than talking-heads would have investors believe. Gallup's latest economic confidence index [3] re-tumbled to -9, 2015 lows and the lowest since Nov 2014. What is worse is the spread between current conditions and the outlook is gapping with hope for the future at its lowest since the end of QE3 after peaking In Feb.
Hope peaked in February and is now tumbling.
[4]
As rising gas prices continue to weigh on the sentiument of the 'average' non-1% American...
[5]
54% of Americans no say the economis getting worse as Gallup's Economic Confidence Index averaged -9 for the week ending June 21 - 2015 lows - as only 25% of Americans said the economy is "excellent" or "good."
Source: Gallup
