The US economic boom is a mirage
https://www.ft.com/content/8af2ad3b-dca0-4add-bbc8-55fc28184f34
Ruchir Sharma notes:
US growth is a mirage for most Americans, driven by rising wealth and discretionary spending among the richest consumers, and distorted by growing profits for the biggest corporations. Times look good but this growth is lopsided, brittle and heavily dependent on spending and borrowing by the government, which is typically the lender of last resort.
Although the world marvels at “unsinkable” US consumers, a growing number are priced out of homes and falling behind on credit-card debt. The bottom 40 per cent by income now account for 20 per cent of all spending while the richest 20 per cent account for 40 per cent.
https://www.ft.com/content/8af2ad3b-dca0-4add-bbc8-55fc28184f34
Ruchir Sharma notes:
US growth is a mirage for most Americans, driven by rising wealth and discretionary spending among the richest consumers, and distorted by growing profits for the biggest corporations. Times look good but this growth is lopsided, brittle and heavily dependent on spending and borrowing by the government, which is typically the lender of last resort.
Although the world marvels at “unsinkable” US consumers, a growing number are priced out of homes and falling behind on credit-card debt. The bottom 40 per cent by income now account for 20 per cent of all spending while the richest 20 per cent account for 40 per cent.
When Chronic Diseases Come with Chronic Financial Pressure
https://www.nytimes.com/2024/11/04/well/chronic-disease-medication-insurance-costs.html
For millions of Americans, paying for the treatment needed to manage their diseases can become its own lifelong problem.
https://www.nytimes.com/2024/11/04/well/chronic-disease-medication-insurance-costs.html
For millions of Americans, paying for the treatment needed to manage their diseases can become its own lifelong problem.
The Biden Economy Is ‘Glorious’—if You’re Wealthy
https://www.wsj.com/opinion/the-biden-economy-is-gloriousif-youre-wealthy-disparities-working-class-policy-3a769f72
Asset values have grown, but the working class bear the brunt of inflated prices and higher interest rates.
https://www.wsj.com/opinion/the-biden-economy-is-gloriousif-youre-wealthy-disparities-working-class-policy-3a769f72
Asset values have grown, but the working class bear the brunt of inflated prices and higher interest rates.