From 2011 (Jackson Hole) to 2015 (end QE3) everything was awesome for The Fed’s ‘trickle-down optimism’ plan. As stocks rose so consumer confidence lurched higher as the artfice of equity market ‘wealth’ smoke-and-mirror-ed the population to believe that even if stuff wasn’t awesome now, it soon would be. That has now ended… and as the following ‘death cross’ shows – Yellenomics is over.
Higher stocks no longer pulls the wool over average-joe’s eyes…
As a reminder, this plunge in Bloomberg’s Consumer Comfort comes at a time when jobless claims hit 43 year lows!
Or perhaps it was the 25% spike in gas prices at the pump? But then again that is unequivocally good news for US stocks, right?