The US Two-Speed Economy Is Back
High-earners and older Americans are faring better than ever, while fortunes are sliding again for low-wage and young workers
There are two economies in the U.S. right now, and they are moving in different directions.
For high earners and many older Americans, the economy looks robust. They are still spending like gangbusters, and their 401(k) accounts and homes have soared in value.
They nabbed 3% mortgages when rates were low.
Wall Street Journal Sept. 16, 2025
https://www.wsj.com/economy/us-economy-analysis-wealthy-low-income-8ba80ccc
The wealthiest 10% of American households—those making more than $250,000 a year, roughly—are now responsible for half of all US consumer spending and at least a third of the country’s gross domestic product.
https://englundmacro.blogspot.com/2025/03/who-exactly-is-buying-all-of-this-stuff.html
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