CONFUSED ABOUT THE US ECONOMY? HERE'S WHY.

A fantastic chart from Hedgeye and Bloomberg, depicting the strong divergence of Hard and Soft data.

The actual ("hard") data--especially in the form of "economic surprises" (to the upside or downside)--have been steadily improving since mid-March 2025.

Meanwhile, the sentiment ("soft") data has fallen off a cliff since late January 2025.

LESSONS:

- To succeed as an investor and/or saver, learn to place facts over feelings.

- Trust the hard data... not histrionic, politcally-motivated opinions.

- Invest in the future, not in the present or (especially) the past.