Everyone Wants All Of Your Money All Of The Time

Sellers bombard us with messages to buy, buy, buy — and the resulting consumption culture drives America’s economy. Consumer spending makes up about 68% of our GDP, far more than in Germany, Denmark, or Canada. But here’s the catch: the top 10% of U.S. households account for nearly half of all that spending. What happens when the bottom 50–80% of households run out of room in their budgets? We may be getting a preview. Kroger, Barnes & Noble, Olive Garden, Chipotle, and McDonald’s have all reported that lower-income customers are cutting back — just as the economy hovers on the edge of stagnation.

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