The Rich Are Spending. Everyone Else Is Broke. Here's Why That Matters.

The wealthiest 10% of Americans are now driving nearly all the spending on non-essentials—eating out, travel, luxury goods. Meanwhile, poorer and middle-class households have burned through savings and been hammered by inflation. The rich benefit from stock gains and cheap mortgages locked in years ago. This matters: strong retail sales headlines mask a fragile foundation, dependent more on asset prices than actual job security.