The K-shaped economy is more split than ever -- and it's showing up in groceries, credit cards, and the workplace
It's a bifurcated time in the American economy.
Billionaires are hitting the vacation and social circuit, showing up everywhere from fashion week to the Super Bowl. Other high earners are doing well: They're booking increasingly snazzy premium seats on airplanes and spending thousands on their pets' grooming.
Meanwhile, America's lower- and middle-income earners are cutting back on their economy airplane seats, buying cheaper groceries, and getting worried about maxing out their credit cards.
For the past few years, and in a variety of ways, the country has been sliding into what's called a K-shaped economy: Earners and consumers at the top of the K are doing OK; they're able to plug along, make good money, and easily spend on both everyday necessities and leisure activities. The lower earners at the bottom of the K, though, are cutting back and pulling away from unnecessary spending. It's on companies' radar: Both executives and analysts are increasingly talking about the K on earnings calls.
https://finance.yahoo.com/news/k-shaped-economy-more-split-085601894.html
45 years of this shit. It was supposed to trickle down but all we got was being pissed on.
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