If you have a head on your shoulders, you can preserve a lot of wealth simply by existing in this top 10% without falling prey to overconsumption

90% of America lives without buying a ton of excess crap. You can, too.

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WSJ: "The top 10% of earners in the U.S. now account for 49.7% of all spending, a record in data going back to 1989. Three decades ago, they accounted for about 36%."

It is surging stock and property markets that seem to drive their disproportionate spending.…

Michael Pettis

If you have a head on your shoulders, you can preserve a lot of wealth simply by existing in this top 10% without falling prey to overconsumption

90% of America lives without buying a ton of excess crap. You can, too. 

https://x.com/michaelxpettis/status/1893924998190113019

The Farcaster formerly known as Kchamp. Books, beats, bodybuilding, bright ideas and beautiful things.

katherinechampagne.com

On the flip side, if the top 10% reduces their spending the whole house of cards topples and everyone loses.

I don’t lack discipline, I… uh… am saving America! 😂

I make rockets IRL.
I reserve the right to shamelessly recast for degen reasons. 
Soldier once upon a time.

Everything bad is inevitable. Delaying the inevitable is the only way to find and enjoy gaps in the unending horrors of the shitshow that is life.

We’ve delayed it long enough. Time to return to the real

Speaking as someone who has literally broken his back doing hard labor… 

…fuck what’s real.

Many such cases. We have too many people who think this relative to the amount we can absorb. 😬

The real beauty of (the possibility of) economic collapse is that the people who saved their money lose as well when their currency is devalued. So… may as well enjoy the fakeness of DisneyLand/society/whatever?