Chris Harris unpacks the contradiction at the heart of today’s economy: consumer sentiment is near record lows even as retail spending and household net worth remain high. He explains the K-shaped recovery, rising debt and low saving rates, and how jobs, wages, and asset gains support ongoing consumption despite persistent inflation.

For investors, the takeaway is to focus on long-term trends and disciplined financial planning—consumer spending continues to support corporate earnings, but elevated debt and weak savings add risks to watch.