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.
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:
Ah yes the temporarily embarrased millionaires.
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.
On a side note, I always figured the Bell Riots that were supposed to be back in September of our timeline were just a hair delayed and slightly miscalculated.
Maybe records became fuzzy due to the whole WWIII issue.
Good call