Tuesday, October 14, 2014

A Guaranteed White Christmas Among the 1%

Wealth of top 1 percent varies by raceThe Chronicle, 11/30/2011

Household Finance May Curb Holiday Spending.  (The New York Times, 10/13/2014)

But forecasters warn that businesses could ultimately struggle to persuade households to spend more this holiday season. 
  • Stagnant wage growth, 
  • coupled with the rising costs of 
    1. health care, 
    2. child care, 
    3. housing and other essentials, 
means that many Americans simply have less money left at the end of the year for presents, experts say. Reflecting imbalances elsewhere in the economy, much of the holiday season spending will come from wealthier shoppers.  [Emphasis added.]

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