Posted 1/23/2024, 7:37:00 PM
Wall Street Booms While Main Street Glooms: Diverging Fortunes Fuel Recession Fears
- Wall Street is celebrating stock market highs while Main Street remains pessimistic about the economy
- Consumer confidence indexes show a large disconnect between Wall Street and Main Street perspectives
- This disconnect has historically preceded U.S. recessions
- The Index of Leading Economic Indicators has declined for 21 straight months, which also signals impending recession
- Despite Wall Street's celebration, gloom on Main Street suggests a recession may be probable