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Trapped in the hell of social comparison
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Trapped in the hell of social comparison
Interest rates have begun to come down. Inflation has mostly subsided, and the real economy is still doing decently well despite Trump’s tariffs. So why are American consumers more pessimistic than they were during the depths of the Great Recession or the inflation of the late 1970s? It’s possible to spin all sorts of ad hoc hypotheses about why consumer sentiment has diverged from its traditional determinants. Perhaps Americans are upset about …
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