BIDENOMICS EXPLAINED IN ONE CHART:
US Consumer Sentiment has nosedived to its lowest point of the year and is at levels which in the past have been associated with recessions or bear markets. Unprecedented to see such a strong stock market (S&P 500 +20% YTD, 38 all-time highs) coincide with such a low reading. pic.twitter.com/FvC2Vwcl58
— Charlie Bilello (@charliebilello) July 17, 2024
Consumer sentiment is no longer an indicator Washington cares about because the well-connected are well-shielded from the consequences of their decisions.