From PNW:
You don’t need an economics degree to feel that something is off.
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People sense it at the grocery store checkout. At the gas pump. In quiet conversations at the dinner table where bills are discussed a little more carefully than before. There’s a tightening — not just of wallets, but of confidence. Consumer confidence has fallen to levels not seen in more than a decade. That matters because confidence is what fuels everyday life. When people believe tomorrow will be better, they spend, plan, invest, and take risks. When confidence collapses, fear takes over — and fear freezes decision-making. Right now, Americans are pulling back. And it’s not because they suddenly became pessimists. It’s because too many warning signs are flashing at once.