Wall Street Is Not Main Street
To put it mildly, observers of U.S. financial markets and the U.S. economy over the past year have been experiencing cognitive dissonance. On the one hand, the stock market has posted its largest increase in recent memory, leaping by some 35% last year and still counting. On the other, the economy crept higher at a lackluster 1.4% pace, consumption has lagged, and economic anxiety is widespread.
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