One major trend during the last few decades is that financial assets have grown much faster than incomes.
This has created what pundits call the K-shaped economy and a gaping wealth gap – with the top 50% doing well and the bottom half of America having few stocks or hard assets while the cost of housing, healthcare, and education rise faster than their income.
The top 10% of American households by income now account for roughly 50% of consumer spending and own about 90% of publicly traded stocks. This is the defining characteristic of a K-shaped economy.
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