⚠️The US economy is becoming increasingly K-shaped:
The top 20% of earners, those making over $175,000 a year, now make up nearly 60% of total US personal spending, in data going back to 1989, according to Moody's Analytics.
In effect, the bottom 80% of earners represent just ~41% of total spending, the lowest share in at least 35 YEARS.
Most of the divergence occurred during two distinct periods: 1), the late 1990s dot-com boom and 2) the post-pandemic market rally.
Both periods were characterized by surging stock prices that disproportionately lifted the wealth of higher-income households.
As a reminder, consumer spending makes up ~68% of US GDP, meaning the wealthiest 20% of Americans now effectively drive more than 40% of the entire economy.
This creates a fragile dependence on stock market performance to sustain growth.
An economy fueled by a small group of wealthy households is one market correction away from stalling.
@RapidResponse47@VP@POTUS Dude, Trump isn't your boss. He can't fire you. You work for the American people. You had a mandate that you ran on. Grow some balls.
@VP Where's the border wall? No mass deportations. Expanded H-1B visas under Trump. Discussions of amnesty for Trump's largest donors who need cheap labor. Put you all in charge, and still can't even get Trump's buddy Randy Fine on board for the SAVE Act.
Treason.
@AFpost "Allies" don't try to influence public opinion in America, regardless of which side they advocate for. Aside from our own government, Israel is the biggest threat to the American people.
@BasedMikeLee Yet, you want to spend the money abroad on wars and giving it to Israeli's so they can fund THEIR socialism.
Socialism is bad, but it's less bad when American taxpayer dollars are actually spent on Americans.
@realBrandonGill Funny how we tax the American people to pay for Isreal's socialism, but how dare Americans demand taxpayer dollars are spent on the American people...
And still no mention of Trump taking stakes in public companies. We used to call that "communism."
@Vivek4real_ This is true, and with less government spending, these companies would be worth far less. A significant portion of Bezos's net worth has come from money printing.
@HormuzLetter The sad truth is that Trump wants this because it benefits his biggest U.S. oil and gas producers. Destroy the rest of the world so they have to be reliant on you.
@patrickbetdavid Hilarious. Tax incentives and "stop bailing out poorly ran companies" back to back. Have you never heard of the Financial Crisis?
The solution is simple. Cut spending (by about 95% to start), cut regulation (by about 95% to start), stop printing money, and cut taxes for everyone
For more than a millennium, an “antisemitic trope” has plagued the Jewish people in every nation they’ve sojourned in the diaspora: the anti-Jewish stereotype is that despite being a tiny minority, through cunning schemes, they’ve been able to take over the power structure of their host nation and do what is in their own best interests, against the will and interests of the nation’s Citizens. And now, through the powerful Israel Lobby in the United States, the U.S. Congress has found a workaround for collapsed public support for the Israeli war machine: instead of having to vote to appropriate financial support for the IDF every few years - which would make congressmen unpopular (and unelectable) with their constituents - just give the very same nation caught spying on us repeatedly, and repeatedly supplying our enemies with our secrets and technology, permanent ownership of the research, development, and procurement of the essential war-fighting technologies of the future. Maybe all those conspiracy theories exist for a reason. Just kidding. Of course, they do.
And now, they don’t have to pay spies like Jonathan Pollard to steal our military secrets. They will get it for free. The plan is being billed as a “partnership.”
On June 1, Netanyahu sent a letter to Congressman Marlin Stutzman of Indiana thanking him for supporting the plan to reshape the US-Israel military relationship. “Israel deeply appreciates the financial component of the military aid the United States has generously provided us over the years,” he wrote. “The time has now arrived for us to move from aid recipient to partner.”
That’s how growing up works, right? Your child turns of age, is ready to leave home and live on their own. So you add him to your bank accounts, the titles of your cars, and the deed to your house. Right? Is that not how “coming of age” works? No, it doesn’t. You let them pack a bag, drive away in their own car, having paid the insurance themselves, and move into their own apartment somewhere across town and stand on their own two feet. You don’t make them co-owners in your business ventures. We don’t cut food aid to Ethiopia and then make them partners in the USDA.
@SparkyTXLM@SStricklandMMA The petrodollar is the reason all of American manufacturing has been shipped overseas. It doesn't benefit the American people.
@RepLuna Go fuck yourself. GOP is in charge of presidency, house, senate, and supreme court, and you're all worthless. This isn't a voting issue that requires us to merge our military with a war criminal's. You should be tried for treason.
@MannyintheCuse@arielhelwani He'd rather fully tear an ACL or MCL than potentially lose a fight to Max Holloway? Even though he still has power and at least had a shot of connecting big?
@RingPhantomx Ultimate boxing championship. No one cares about how many times you touch your opponent. It's about damage. If he wants to box, go box Floyd like Conor.