Consumer Confidence: It’s the Stock Market, Stupid

Potential home buyer Nikki Brown inspects the refrigerator inside the kitchen of a model home in Rancho Cucamonga, CA. Photograph by Patrick Fallon/Bloomberg

To read the economic news, there’s plenty to feel glum about: China’s slowing down, Europe’s still a mess, U.S. job growth has flatlined, manufacturing in particular is starting to weaken. And yet, Americans are beginning to feel better about things, especially their own finances.

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