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

I am 100% behind the sentiment.  I think reducing consumption is one of the most actionable, most impactful things anyone can do in their life.

"90% of America lives without buying a ton of excess crap"
- Citation needed.

Startup artist seeking inspiration.  Champion of /bcard

It’s in the tweet. 10% of Americans drive half of consumption. That is the level of their excess

But most people here are in that top 10 or are farming for Pennies so. I won’t disagree with you that reducing consumption overall is good but also there’s a point where it does become needless austerity.

Yeah so the top 10% spend a lot...AND the bottom 10% of spenders still probably spend on excess crap.

Spending on useless stuff is not only a rich person's game, they are just able to do it more.