While We Focused on Fripperies, the Foundations Have Rotted Away

While the Everything Bubble has soared to new heights, consumer confidence has fallen to new lows. For your consideration, four charts that tell a single story: while those Americans who have benefited so immensely from the Everything Bubble in stocks, housing, crypto, bat guano, etc.--every asset under the sun--have spent lavishly on fripperies, the foundations of everyday life for the bottom 90%…