@DW2 Was listening to Bloomberg radio. A guy said “I see lots of people on the street here in Manhattan. The restaurants are full, the movie theaters are full. How’s it look like the consumer is doing?” Then he sent it back to the other guy who said economists are predicting a mild recession next year due to wage growth slowing hiring.
It might be that these people worship models in part due to the big data craze. If their models aren’t showing how the economy is really doing, they have no eyes to see. They have no way to ‘check their answer’ because nothing else is as ‘objective’ and the feel on the street outside of Manhattan is just ‘anecdotal.’ They don’t believe anything except their own model so they’re boxed in.