4 ms·

Here's the quick quote from the article explaining why this is "sustainable" over a long-period of time: > "While many have suggested that borrowing is what ex

Here's the quick quote from the article explaining why this is "sustainable" over a long-period of time: > "While many have suggested that borrowing is what explains households’ ability to keep spending (it is, some), overwhelmingly it’s holding gains that “fund” the perennial dissaving of the bottom 80%."

silisili 3y ago
It's unclear to me what gains they are actually talking about here. Are they selling stock? Taking money out against their rising house value?