Ahrenl
join:2004-10-26
North Andover, MA | reply to en102
Re: What Credibility? 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. |
