Today, around 50% of US consumer spending is by the top 10% of wealthiest households. (per Moody's)
The end state of this looks like how humanity looked before the industrial revolution: A single-digit percent of the population has the vast majority of the wealth and virtually all real estate and luxury goods. Between 90% and 95% of the population has just enough to live on, and never enough to build generational wealth or have any class mobility.
The end state of this looks like how humanity looked before the industrial revolution: A single-digit percent of the population has the vast majority of the wealth and virtually all real estate and luxury goods. Between 90% and 95% of the population has just enough to live on, and never enough to build generational wealth or have any class mobility.