> Consumer spending is being held up by stock market gains
Wait, really? Is this just a vibes thing, or have you seen data supporting that? It _seems_ fairly unlikely.
> Consumer spending is being held up by stock market gains
Wait, really? Is this just a vibes thing, or have you seen data supporting that? It _seems_ fairly unlikely.
The top 10% by wealth are responsible for 50% of consumer spending in the US. In 2020 it was only 43%.
They also own 87% of the stock market.
It's not a big logical leap.