The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending?
https://www.bloomberg.com/news/articles/2025-03-24/rich-americans-cutting-spending-could-hurt-the-us-economy
The stock market slide threatens a wealth effect that’s been a key driver of the post-pandemic expansion.
Americans Feel Bad About the Economy. Whether They Act on It Is What Really Matters.
https://www.wsj.com/economy/consumers/trump-economy-consumer-business-sentiment-fbfb1db5
When consumers and businesses are feeling down, the effects can ripple through the economy—sometimes.
Slumping Stocks Threaten a Pillar of the Economy: Spending by the Wealthy
https://www.wsj.com/economy/slumping-stocks-threaten-a-pillar-of-the-economy-spending-by-the-wealthy-c23cabd4
Consumer spending is highly dependent on the affluent, who are highly dependent on the stock market.
The U.S. Economy Depends More Than Ever on Rich People
https://www.wsj.com/economy/consumers/us-economy-strength-rich-spending-2c34a571
The highest-earning 10% of Americans account for almost 50% of all consumer spending.
https://www.bloomberg.com/news/articles/2025-03-24/rich-americans-cutting-spending-could-hurt-the-us-economy
The stock market slide threatens a wealth effect that’s been a key driver of the post-pandemic expansion.
https://www.wsj.com/economy/consumers/trump-economy-consumer-business-sentiment-fbfb1db5
When consumers and businesses are feeling down, the effects can ripple through the economy—sometimes.
Slumping Stocks Threaten a Pillar of the Economy: Spending by the Wealthy
https://www.wsj.com/economy/slumping-stocks-threaten-a-pillar-of-the-economy-spending-by-the-wealthy-c23cabd4
Consumer spending is highly dependent on the affluent, who are highly dependent on the stock market.
The U.S. Economy Depends More Than Ever on Rich People
https://www.wsj.com/economy/consumers/us-economy-strength-rich-spending-2c34a571
The highest-earning 10% of Americans account for almost 50% of all consumer spending.
Related:
Consumer Angst Is Striking All Income Levels
https://www.wsj.com/economy/consumers/consumer-angst-is-striking-all-income-levels-ab32d5d5
Signs of weakness are showing up in spending on everything from basics to luxuries.
Consumers Keep Bailing Out the Economy. Now They Might Be Maxed Out.
https://www.wsj.com/economy/consumers/consumer-credit-debt-economy-impact-634eda8d
Recession fears rekindle concerns that Americans are overstretched on debt.
https://www.wsj.com/economy/consumers/consumer-angst-is-striking-all-income-levels-ab32d5d5
Signs of weakness are showing up in spending on everything from basics to luxuries.
Consumers Keep Bailing Out the Economy. Now They Might Be Maxed Out.
https://www.wsj.com/economy/consumers/consumer-credit-debt-economy-impact-634eda8d
Recession fears rekindle concerns that Americans are overstretched on debt.