Consumer sentiment hit a record low, but jobs and income data suggest spending holds. Oil prices pose the real risk worth watching

Kevin Hassett dubiously suggested the fact that consumers are now spending more of their money on, well, everything, is proof they are actually confident in the economy.

Consumer sentiment is at record lows because there is zero visibility on any real-world trends that would be positive for the bottom 90%. Vague promises of super-abundance are not…