The Consumer Confidence Con Job

While that may be true of the top 10% or, it’s not so true of the majority. The upper income strata is able to keep moving that total needle higher, but the average Joe is stuck treading water. Real retail sales (adjusted for inflation), per capita (adjusted for population growth) are lower than the were in 2007, 2006, and 2005. And they’re  down from last year. Some confidence.