The U.S. Economy Depends More Than Ever on Rich People | The highest-earning 10% of Americans account for almost 50% of all consumer spending.

www.wsj.com /economy/consumers/us-economy-strength-rich-spending-2c34a571

The top 10% of earners—households making about $250,000 a year or more—are splurging on everything from vacations to designer handbags, buoyed by big gains in stocks, real estate and other assets.
Those consumers now account for 49.7% of all spending, a record in data going back to 1989, according to an analysis by Moody’s Analytics. Three decades ago, they accounted for about 36%.

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Economy @lemmy.world

www.wsj.com /economy/consumers/us-economy-strength-rich-spending-2c34a571

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Wealthiest nation in the world (by a large margin if I may add), regular people are struggling to get by and your solution is "just be more frugal"? I'd imagine if you're the wealthiest nation in the world you can afford some luxuries but I guess not according to you. Also, if you're so wealthy where does all that wealth go?
- regular people are struggling to get by and your solution is “just be more frugal”?
  Not quite. We need to get off the consumer bandwagon and learn to appreciate what we have.
  People are miserable because they're constantly trying to "keep up with the jones'" which means wasting money on bullshit they don't need and have been conditioned to want.
  Until the working class learns to appreciate different things, we shouldn't expect anything to change or improve.
  
  I ended up reading your other comments. You're out of touch with reality and there's nothing I could say that others haven't already brought up, and since you're not listening to them I doubt you'll listen to me. So the only thing I can add is that you should start practicing what you're preaching and get off the internet because the internet is a luxury. Then again I imagine you won't have a problem justifying your own "wasting money on bullshit" because you can afford it.
  
  Yeah, no.
  It's not an "all-or-nothing" thing. That's what consumers have been convinced to believe so that they don't feel guilty about contributing to the problem. You're doing it right now.
  
  It's not an all or nothing thing, getting rid of consumerism would definitely be a net positive for society. But your suggestion goes squarely in the same hole as "to solve climate change people need to watch their carbon footprint" while completely ignoring the fact that the biggest polluters are corporations. Or the "to solve microplastics people need to sort their trash" which again completely ignores the fact that a very small part of plastics are recyclable because most corporations won't spend extra money to make more recyclable plastics (or ideally not use plastics at all).
  What you're suggesting is a net positive in the context of the problem but its not going to solve the problem. Just like with climate change and microplastics your "solution" is just kicking the can down the road instead of actually solving the problem.
  
  But your suggestion goes squarely in the same hole as “to solve climate change people need to watch their carbon footprint”
  No it doesn't and your analogy only servers to distract and derail because you have no real argument. Try to stay on topic.
  You would directly benefit from appreciating a more-modest lifestyle, and so would your finances. Instead, you're looking for any argument to justify your entitlement and overconsumption because you like nice things too.
  It's okay to be honest about it. Lying and derailing only shows me you're insecure, which is to be expected.
  Look at how much effort you're putting into arguing against spreading out. This is the cultural problem.
  
  And you're proving my point about this being a waste of time. But that's fine. It's fine if you get so riled up that you need to call me a liar and insecure and claiming I want to derail whatever soapbox you're on. I don't care because at the end of the day I'm not the one telling minimum wage workers, who can't afford to save money, that all they need to do is just save more money. Unlike you I know what being poor means, which is why I know what you're saying is compete garbage. But hey, don't let me stop you from letting everyone know what you are.
  
  You're not a minimum wage worker, bub. This is what I mean by why should you get more before others who have less?
  Why should we improve your lifestyle in the big city because you're "too good" to accept a more modest and affordable lifestyle outside of one? You're not willing to invest in making more places livable and improving the lives of others, you're just looking for ways to justify your entitlement to have as much as you can get.
  It's not a big surprise. I don't expect more from people like you at this point. I would be foolish if I did.
  
  It's amazing how confidently wrong you can be.
  You’re not a minimum wage worker, bub. This is what I mean by why should you get more before others who have less?
  I am not a minimum wage worker and I never said I was. I'm relatively well off and I think everyone should be able to have a life similar to mine, in terms of fulfillment. I don't demand more for myself, I demand more for everyone else because I don't think anyone deserves to be poor and needing to deal with the stress of having no money.
  Why should we improve your lifestyle in the big city
  I don't live in a big city. I live in a small town because I have the luxury of working remotely.
  you’re “too good” to accept a more modest
  I live a pretty modest life, some might even call it frugal. I don't own a car because it's a huge money sink. I cook my own meals because eating out is expensive. I don't buy cheap clothes but I do buy clothes that last a long time because if they last longer I end up spending less money on clothes. I don't really spend much money outside of necessities and the occasional entertainment.
  affordable lifestyle outside of one
  I have a budget and I stick to it. I have no problem having an affordable lifestyle.
  You’re not willing to invest in making more places livable and improving the lives of others
  I contribute to my local community. I would be more specific but I honestly have no fucking idea what you're even trying to imply here.
  you’re just looking for ways to justify your entitlement to have as much as you can get.
  Wrong once again.
  It’s not a big surprise. I don’t expect more from people like you at this point. I would be foolish if I did.
  I absolutely agree because I'm not at all surprised how you can be so confidently wrong.
  
  Man, if only you put this much effort into advocating for a modest lifestyle.
  It just goes to show: you don't want to solve these problems because you benefit from them.
  You're also just straight up lying at this point. It's crazy how much effort you are putting into this, but it's to be expected because of your cognitive dissonance.
  I'm not going to sift through or quote your bullshit, but we both know that it's there. Keep trying to justify your entitlement, bud. I will always see it for what it is.
  
  I guess it's time for your meds because you're starting to speak complete nonsense.

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