The American consumer economy is increasingly powered by a narrow slice of households at the very top of the income ladder. The wealthiest 10 percent now account for roughly half of all spending, a concentration that leaves growth looking stronger on paper than it feels on the ground and exposes the system to new kinds of risk. I want to unpack how we got here, what it means for everyone from retailers to renters, and why an economy so dependent on a small elite is more fragile than it looks.
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Article URL : https://www.msn.com/en-us/money/markets/the-wealthiest-10-now-drives-50-of-spending-and-that-s-a-problem/ar-AA1T8f5k