Amid the constant turmoil in domestic and global politics these days, the economy’s steady expansion has been a source of comfort. But look more closely and you will find that economic growth rests on a surprisingly amorphous base: consumer confidence.
In the United States, consumer confidence has been ascending since 2009. What’s more, the domestic data have been synchronized to a remarkable degree with similar metrics from around the world. CONT.
Robert J. Shiller (Yale), New York Times