The top 10% of earners are responsible for 50% of consumer spending, and baby boomers significantly support their children, creating knock-on effects where a substantial stock market decline could trigger a wealth-driven recession through reduced consumer spending.
causalpending
Speaker
Dmitri CafinasEvidence Quote
“a recession that's driven by a fall in the stock market that's so great that it has such a substantial impact on consumer spending because of the fact that the top 10% are responsible for 50% of consumer spending and because also baby boomers do so much to support their children”
Source
The One Hundred Year Pivot | A New Podcast Series by Demetri Kofinas and Grant Williams— Hidden ForcesCreated: 8/11/2026, 7:02:03 AM
My Notes
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