Wolf Richter — Americans’ Economic Confidence Gets Whacked

In early January, the economic confidence of Americans had reached the highest level since before the Financial Crisis, according to Gallup’s Economic Confidence Index. But then it began to drop. At the time, the weather was blamed for everything. But spring should have turned it around. Only it didn’t.…

Whatever it is that causes Americans to turns bearish on the future of the economy, it has nothing to do with the weather or Greece.

These people are focused on the reality on the ground, and what that reality might look like for them in the future. They’re figuring out that, despite all the hype and proclamations and the record stock markets and booming housing market, reality for them personally simply doesn’t look all that enticing.

Wolf Street

Americans’ Economic Confidence Gets Whacked

Wolf Richter