America's economy, all wrapped up. With guac. Caitlin O'Hara/Bloomberg/Getty Images

Fact 1: America’s economy and stock market keep growing, buoyed by robust consumer spending and AI mega-growth .

Fact 2: Hiring is at a standstill , inflation is rising, loan defaults are abundant and Americans give this economy a near-record-low rating .

Confused? To understand how both of those things can be true, consider the burrito.

Chipotle on Wednesday reported miserable earnings and cut its sales-growth forecast for the third-straight quarter. The culprit: Young and lower-income consumers (Chipotle’s core customers) are cutting back on their spending, and they’re starting to skip the guac.

Chipotle CEO Scott Boatwright on the company’s earnings call: “We’re not losing them t

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