Why the Macro-Economy (Purchases of Goods and Services) Looks Good But More People Are Not the Beneficiaries

As the WSJ reports, the top 10% of earners—households making about $250,000 a year or more—are splurging on everything from vacations to designer handbags, buoyed by big gains in stocks, real estate, and other assets. These consumers now account for 49.7% of all spending. You don't need me to tell you what the ramifications are.

[EOP]