Top 10% of Earners Drive a Growing Share of US Consumer Spending
Top 10% of Earners Drive a Growing Share of US Consumer Spending
www.bloomberg.com
Bloomberg - Are you a robot?
10 comments
-
-
ah yes, increasing inequality.
-
Having a spending based service economy that relies heavily upon the top wealth to survive sounds like a truly horrible situation to be in. All it takes is a handful of people to sway whether there's even an economy at all.
-
So how to sway them?
-
-
When wages are stagnant and don't keep up with the cost of living you can't expect people to run out and spend money. Broke people don't buy things. Capitalism is going to end up destroying itself.
-
No. Capitalism is going to end up turning us all into chattel slaves.
-
-
So 90 percent of people do 50% of the spending. That's fucked
-
Yeah. Breaking that was what the New Deal was about; it shifted wealth away from the robber barons and created a generation of broadly if imperfectly shared prosperity
-
10 comments
Fair to say an economy by the rich, for the rich?
Yes. Not a healthy sign. The rich can only consume so much.
It’s a coast to coast slave plantation with shops.