Make ‘Soft Data’ Great Again – Economic Confidence Rebounds To 16 Year Highs

The last time American consumers were this confident about the national economy was August 2001.

As a reminder, the market is not the economy… and a rising economic confidence on the heels of rising stock prices does not ‘forecast’ the economy…

For those who believe there is more left in stocks to run, we note that economic confidence was rising to these levels in July 1997 – so you have about 30 months until the world implodes by that measure.

There’s just one problem with that exuberance…

‘Soft’ versus ‘Hard’ Data again!!