this post was submitted on 24 Feb 2025
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The top 10% of income earners in the US now account for half of all consumer spending, a record high. (www.fxstreet.com)
submitted 1 month ago* (last edited 1 month ago) by yogthos@lemmygrad.ml to c/us_news@lemmygrad.ml
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[–] yogthos@lemmygrad.ml 20 points 1 month ago

Indeed, and lot of people who have been relying on credit to make ends meet are already starting to default on their debt. At some point the US is likely to see a 2008 banking crisis as the cost of living continues to rise while wages stay stagnant.