by Chris Vermeulen
Market Oracle
The Gallup Poll has released an Economic Confidence Index which reflects the sentiment of Americans, as it pertains to the economy.
As the stock market makes new record highs and the housing “bubble” market soars, one would expect that the “average” American would be smiling from ear to ear. However, the chart below appears to present nothing but gloom and doom. The Gallup Polls results are dumbfounding the American public as to why this divergence has occurred. I feel we have touched upon a few points as to why this is occurring.
[…] First off, half of all Americans do not even own one stock. Secondly, there are many U.S. companies making large profits overseas. That may be positive for the company but that does not necessarily translate into a better financial position for mainstream Americans.