Where’s The Beef, Part 3

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Well, when you are looking for the Trump-O-Nomics beef you do have to navigate a fair amount of misdirection from the Oval Office. Last Monday, for instance, the Donald said “Consumer confidence is way up.”

But on Friday, the University of Michigan’s consumer sentiment index hit a post-1952 record low for the second straight month.

That’s right. Not just a turn to the negative as opposed to the Donald’s upbeat assertion. Actually, a 74-year low. The Lowest Ever, in fact.

Of course, the unhinged gamblers down on Wall Street make no never mind. The stock averages no longer have anything to do with either the US economy or reality. They simply reflect the default assumption that the Fed “put” is still alive and well.