What is Going on With the Economy?

Hint: It’s not about inflation

Okay, I admit I fibbed a little in the subtitle.  It is about inflation, but not in and of itself.  It’s more about the acceleration of inflation, and of the acceleration of rising interest rates.

First, let’s backtrack to the confounding economic data we are seeing.  Poll after poll seems to confirm that Americans are feeling more and more gloomy about …