The University of Michigan’s Index of Consumer Sentiment, for instance, most recently registered 61.3, versus 100.9 during “Morning in America.” In other words, consumer sentiment is currently 39% lower than it was at a time when the misery index was 41% higher. The gap between consumer sentiment and economic performance has sparked extensive pontification online, with a variety of reasons being proposed for the disconnect. Negativity breeds negativityThis intense focus on inflation without commensurate analysis of income trends has left corporate media consumers ill-equipped to understand the real world. As corporate media minimized discussion of wage gains, the American public rejected the idea that they had even occurred. As corporate media went negative, the public went even further south.