The new reality of a post-stimulus world: Rich people have g...
The new reality of a post-stimulus world:
Rich people have gotten richer and continue to spend more than everyone else.
Currently, the top 20% of incomes account for almost 40% of consumer spending.
Meanwhile, the second lowest and lowest income quintiles account for just 21% of consumer spending.
This is exactly why many consumers feel like the economy is bad.
All while we have the most unaffordable housing market in history with inflation still above 3%.
Affordability is horrible for most people.
Rich people have gotten richer and continue to spend more than everyone else.
Currently, the top 20% of incomes account for almost 40% of consumer spending.
Meanwhile, the second lowest and lowest income quintiles account for just 21% of consumer spending.
This is exactly why many consumers feel like the economy is bad.
All while we have the most unaffordable housing market in history with inflation still above 3%.
Affordability is horrible for most people.
![The new reality of a post-stimulus world: Rich people have gotten richer and continue to spend more than everyone else. Currently, the top 20% of incomes accoun...](https://ussnsimg.moomoo.com/sns_client_feed/70865938/20240319/79535902932e409d8946ddfdeefa3371.jpg/big?area=100&is_public=true)
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Dividend Stocks Guy : isn't it logic that the rich can spend more?