As previously noted, a decline in stocks (and an adverse “wealth effect”) could trickle up and weaken the K-shaped economy by hurting the upper middle class:
DOLLAR GENERAL EXEC, at GS conference:
“.. even that middle to upper-middle is acting more like a lower income shopper these days. .. we’re hearing more and more from them: 'I don’t feel like I’m higher income at $100,000 any longer because of all of the headwinds ..'"$DG
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