Whats bizarre though is that consumer spending has been strong.

There is this bizarre mixed signals problem where all the metrics look strong, and yet all the people are complaining.

My personal belief is that the crazy economics of the pandemic was kick in the head to most people's perceptions of finances. Things got really good for a lot of middle and lower class people, and now there is pain in the return to normal.

And housing.

And for financial media it is the stock market.

Which can be separate from the purchasing power.

NB: I added stock market and didn't see your reply.