 en102Canadian, eh?
join:2001-01-26
Valencia, CA | Somewhat true...
Rich do more spending, in general (yeah they buy a lot of stuff), however, much of it is purchased through corporate resources, or as a method of tax reduction where possible (i.e. tax advisor/CPA will help to funnel cash into a purchase into a tax deductable item).
The poor can't afford anything (which is why corporations are ALWAYS giving items to the poor - gotta get them into the 'system' of spending to make money, credit/debt, etc. ). Gov't healthcare, bicycling, walking, rabbit ears, shelters, soup kitchens do not generate money.
Middle class is already there.. spending on daycare, clothes, sports, vehicles, insurance, TV, cable, phone, blah blah blah..
Middle class is '2 paychecks from bankruptcy'. In So-Cal, there were ~70k homes that were lost to the banks as many purchased homes they couldn't afford.
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Canada = Hollywood North |
Ahrenl
join:2004-10-26
North Andover, MA | Rich do more spending, in general (yeah they buy a lot of stuff), however, much of it is purchased through I'm not sure where you get your numbers, or what you mean by much of "it"; but the fact is that the richest 20% account for more than 60% of consumer spending.
The poor and middle class already tapped their full discretionary income, and then some, long ago, and essentially make up the inflation portion of spending growth.
I'm not sure why you mention bankruptcies in So-Cal; which were just as much a function of fraud, excessive price appreciation, and re-fi consumption as anything else. |
