When the top 10% of your earners account for half the national spending, yeah, the “wealth effect” is going to count. (via B of A/Hartnett) 🇺🇸 - ThreadSky

carlquintanilla.bsky.social • 18 hours ago

When the top 10% of your earners account for half the national spending, yeah, the “wealth effect” is going to count.

(via B of A/Hartnett) 🇺🇸

Comments

stephjmom.bsky.social•17 hours ago

I have to admit I don't understand the chart.
I'm not understanding some of the previous dips. like the '18-'19 one, and the last 3 years of the Obama administration 14, 15, 16?
I just don't get the context.

sacrasang.bsky.social•13 hours ago

I think this is a more approachable way to view the same general effect

https://www.federalreserve.gov/econres/notes/feds-notes/a-better-way-of-understanding-the-u-s-consumer-decomposing-retail-spending-by-household-income-20241011.html

sacrasang.bsky.social•13 hours ago

And I guess if you want to know what this does in a broader context with other macroeconomic trends. We have the M1 Velocity

https://fred.stlouisfed.org/series/M1V

herzgutreich.bsky.social•17 hours ago

It’s not clear

zero-effort.bsky.social•17 hours ago

It’s a horrible chart, and there are two X axis with different measurements

stephjmom.bsky.social•17 hours ago

I love the word bigly on there though...

sweetglasses.bsky.social•13 hours ago

😆

herzgutreich.bsky.social•17 hours ago

I thought charts existed to simplify and clarify instead of making me stupid 😎

bluebluechristmas.bsky.social•18 hours ago

They also account for almost half the tax revenue. 83 billionaires donated to Kamala. She had a campaign warchest of $1 BILLION.

BAD POLICIES LOSE ELECTIONS

bgesus.bsky.social•17 hours ago

Seems a bit simplistic since in the blind dem policy far out performs. Misinformation, apathy, poor messaging, and anti-democratic (not party but our very foundation) sentiment certainly didn’t help.

bluebluechristmas.bsky.social•17 hours ago

Covering for Biden's cognitive impairments and allowing his administration(the Obama administration) to run the show and finally a coup was the death nell.

bgesus.bsky.social•17 hours ago

That wasn’t your argument. You said bad policies.

bluebluechristmas.bsky.social•17 hours ago

Yes. Open borders, targeting political opponents, racist DEI, transagenda, increased crime, increased human trafficking, increased taxes and inflation, decreased homeland security, new endless wars, horrific foreign policy, weakening the dollar, more people on welfare, etc
https://x.com/dutton3/status/1852821375423254947

bgesus.bsky.social•17 hours ago

https://www.washingtonpost.com/opinions/interactive/2024/trump-harris-policy-quiz/