The rich are powering spending, with the U.S. economy in a danger zone

[SamuelTheThird]

https://www.axios.com/2026/01/22/jobs-stock-market-rich-americans

By the numbers: 59% of all consumer spending now comes from the top 20% of income earners in the U.S., a near record high, according to a Moody's Analytics analysis of recently released numbers from the Federal Reserve.

Only 41% of consumer spending, meanwhile, comes from the bottom 80% of income earners — a record low.
The big picture: High levels of inflation and a lackluster job market is weighing on most people, and their level of spending has stayed flat.

But at the high end, things are looking pretty good — particularly for those in the stock market.
Market gains have driven record levels of riches. The share of total wealth held by the richest Americans is now at the highest level since World War II, Bloomberg reported Wednesday.
What they're saying: "The economy is narrowly perched on the backs of the well-to-do," says Mark Zandi, chief economist at Moody's.
If the rich stumble, if the stock market tumbles, then a recession would be more likely then not, he adds.
An economic downturn would then fall hardest on lower-earning working people, at risk of losing their job.

[Blue Full Moon]

1. The economy is not based on rich people buying

It's middle class and poor who have completely disposable income. The rich just sock it away in off shore accounts.

[AZJonnie]

2. Not to say I agree with all the conclusions in this article that are shared above

but it's saying the top 20%'s share of what's being spent by "consumers" is increasing (to record levels) on a % basis, and it's because the middle class and poor don't freaking have any money to spend anymore.

What part of this doesn't jibe with reality for you, just curious?

Also, I don't think the term "disposable income" accurately reflects what you're trying to convey

[AZJonnie]

3. So, I guess we all need to do our part to make sure "the rich" don't "stumble"

Otherwise, all the rest of us are fucked.

Isn't THAT convenient? I'm sure it's not "by design" or anything, just pure happenstance, doncha know?!?

[DFW]

4. The article would have been more helpful if it gave some specifics

Beyond the ten or so most prominent billionaires, just exactly who are "the rich," and how, specifically, are we to know when they "stumble?" After all, I want to be as prepared for the coming recession as the next man.

At least I'm not gonna lose my job. I've been looking for a replacement for over ten years, and haven't found one yet.