good bye middle class? the top 10 percent of U.S. households account for nearly 50 percent of all consumer spending. but is the middle class disappearing because algorithms and machines are making middle-class skills obsolete.
Tag Archives: consumer spending
nonessential consumer spending and the end of the Age of America
americans now spend $1.2 trillion a year on stuff we don’t need ( nonessential goods ) which represents 11 percent of overall consumer spending, up from 4% in 1959. at least maybe some of all that junk will be around in 2016 which it the date the IMF says china’s economy will surpass that of america bringing an end to The Age of America.