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The US Economy Runs on Billionaire Pocket Change

By: David Moscrop

The top 10% of earners account for almost half of all consumer spending in the United States. Wealth concentration has made economic stability shockingly reliant on elite consumption.

Illustration by Richard A. Chance

While millions of Americans are struggling with a growing consumer debt crisis and surviving paycheck to paycheck, the wealthy are living their best lives — and increasingly so. This stark economic divide is no accident; it is the product of a rentier economy built on asset inflation. It’s also a house of cards. But for those at […]

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While millions of Americans are struggling with a growing consumer debt crisis and surviving paycheck to paycheck, the wealthy are living their best lives — and increasingly so. This stark economic divide is no accident; it is the product of a rentier economy built on asset inflation. It’s also a house of cards. But for those at […]

Medium

While millions of Americans are struggling with a growing consumer debt crisis and surviving paycheck to paycheck, the wealthy are living their best lives — and increasingly so. This stark economic divide is no accident; it is the product of a rentier economy built on asset inflation. It’s also a house of cards. But for those at […]

Large

While millions of Americans are struggling with a growing consumer debt crisis and surviving paycheck to paycheck, the wealthy are living their best lives — and increasingly so. This stark economic divide is no accident; it is the product of a rentier economy built on asset inflation. It’s also a house of cards. But for those at […]

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