Wall Street Cashes In As Inflation Wrecks Consumer Confidence, Inflation Fears Worst Since 2008

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Since around the year 2000, Wall Street and Main Street have been decoupling. The Lehman crisis events and government response accelerated that divergence, and, most recently, policymakers' response to the crisis has driven the divided between Wall Street's success and Main Street's distress has never been wider.
This divergence was highlighted even more so today, when Americans' sentiment crashed to its lowest in 11 years (UMich) as stocks rebounded back towards record highs.
UMich headline sentiment plunged from 71.7 to 66.8 (way below the 72.5 expected) - that is the lowest since 2011. Both 'current conditions' and 'expectations' also plunged in preliminary November data.
UMich Director Richard Curtin notes, the plunge in sentiment is "due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation."