This spring, real wages fell year-over-year for the first time in three years. Two-thirds of Americans said they were cutting back spending. Stocks kept hitting record highs the whole time.
And that's a K-shaped economy doing exactly what it's built to do.
seattletimes.com
As US stock market hits new highs, 2 of 3 Americans are cutting back on spending, survey shows
U.S. consumer confidence declined slightly this month as gas prices stayed high and inflation remained elevated, a sharp contrast to soaring stock prices that have neared record levels.