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Consumer Sentiment Has Never Been This Bad

Original Analysis | SchiffGold | 15 Apr, 2026

Consumer sentiment has hit an all-time low in America as the promises of Trumpenomics like a flood of tariff wealth, slashed income taxes, and lower prices are washed away by the tides of war, low growth, bad math, and money printing.

Politicians want to be good at math when it serves them, and terrible at it when it doesn’t. Trump’s tariffs never had a hope of adding up to anywhere near the levels needed to balance the budget or eliminate income tax, as promised. Consumers are broke, tired, indebted, and politically exhausted. That’s why consumer sentiment is lower than it has ever been since the University of Michigan began publishing its Michigan Survey of Consumers in the 1970s.

Inflation has proven sticky, with the money supply expanding and the war machine ramping up in the Middle East, even as our other wars fall into the background of the news cycle.

Rather than return America to prosperity, tariffs have created uncertainty, friction, and higher prices for Americans while incentivizing foreign countries to accelerate their efforts to ditch the dollar.

consumer sentiment debt dollar economy Federal Reserve inflation monetary policy recession stagflation tariffs