The top 10% of earners—households making about $250,000 a year or more—are splurging on everything from vacations to designer handbags, buoyed by big gains in stocks, real estate and other assets.
Those consumers now account for 49.7% of all spending, a record in data going back to 1989, according to an analysis by Moody’s Analytics. Three decades ago, they accounted for about 36%.
The top-level post uses a gift link. When it runs out, there is an archived copy of the article.
The highest earning 10% also have about 67% of the wealth, so they are actually underperforming compared to the rest of the population. It’s just that they have all the money.
Thank goodness for the rich. I’ve nothing against the poor but they’re such drag on my economy
Wow, an actually important economic statistic, here on Lemmy? 👏
They’re literally trying to build an economy that starves regular people out of it. They don’t care anymore, they want it all.
A whole ass country full of fucking Veruca Salts.
Well, there’s 2 Verucas running the white House right now. I’m sure they care about fixing this issue.
What an insidious way to frame poverty and wealth disparity.
I cannot remember a time a headline filled me with such hatred and anger toward a person.
I hope Ms. Ensign gets exactly what she deserves.
Her WSJ biography REEKS of boot licking and discredited economic theory:
It’s fitting imo, because they’ve stolen the wealth and think that Luigi’s case is just a freak accident rather than the upcoming Bell Riots.
Maybe if you didn’t fucking rob the other 90%, the numbers would be different.
BECAUSE! They.Stole.all.the.MONEY!
