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The wealthiest Americans aren't buying shit from China, I have no clue where you managed to get that point from but they're buying boutique shit from Europe or
by fzeroracer 25d ago
The wealthiest Americans aren't buying shit from China, I have no clue where you managed to get that point from but they're buying boutique shit from Europe or elsewhere.
American-made goods have the worst cost:quality ratio for multiple reasons. Capitalism hollowing out quality, businesses capturing markets. They sit in an area which are unaffordable for your average American as a result of the middle class vanishing and not boutique enough for the wealthier ones.
People voted for a wealthy man to loot everything and he's doing exactly that.
- WarmWash 25d agoLike I said in my earlier post, the richest group of Americans is not the 1%. It's middle/upper middle/upper class suburbia. This is even more pronounced because these are the people with cash who spend it. Billionaires aren't bingeing Amazon, shien and temu. That 60-90% class of Americans are the backbone of the economy. And they buy tons, tons, and more tons of Made in China.
- padjo 25d agoYou're point would make a lot more sense if you didn't say the richest people are not the richest people.
- WarmWash 25d agoYou're right, I'm sorry, it's the 60-95%* that are the richest. The one percentage have a staggering amount of wealth, but it's mostly in assets. The "upper/upper middle class" have just as much, but it's much more heavily in cash. Those people and their spending is what keeps the economy moving. ~70% of GDP comes from them. You should check the actual wealth distribution rather than just reading incessant "The 1%..." headlines.
- padjo 25d agoI have looked at the stats. In the US the 1% own 31% of the wealth up from 23% in 1990. The 50-90% own 30% of the wealth down from 36% in 1990. The fact that their spending drives the economy is just more ammunition for better wealth redistribution.