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> This is really obscured by the K-shaped growth, dual economy now. We've reached a stable pattern of a deep underclass serving the wealthy. We won't have a cra
by mistersquid 9mo ago
> This is really obscured by the K-shaped growth, dual economy now. We've reached a stable pattern of a deep underclass serving the wealthy. We won't have a crash or "correction" because the entrenched top 5% has figured out a way extract value from everyone else indefinitely.
Apologies for quoting all 3 sentences of parent, but the poorly-drawn conclusion depends on the full sequence of seemingly rational statements.
The context this sequence is missing is that approximately 70% of the US economy depends on consumer spending. [0][1] If the lower stroke of the K-economy diverges too much from the upper, the economy is going to grind to halt.
Consumer spending of the bottom 90% cannot (easily?) be replaced by the top 10%.
[0] https://govfacts.org/money/broader-economy/economic-indicators/the-four-parts-of-gdp-that-drive-americas-economy/ https://govfacts.org/money/broader-economy/economic-indicato...
[1] https://www.npr.org/2025/11/23/nx-s1-5615222/consumer-spending-is-the-u-s-economys-main-driver-heres-how-its-doing https://www.npr.org/2025/11/23/nx-s1-5615222/consumer-spendi...
- throwaway132448 9mo agoI used to think along these lines. But now I think the truth is - does it matter if the economy grinds to a halt? Perhaps the ruling class can still keep enough Americans comfortable enough, and fearful of losing more, doing largely pointless jobs, to stay passive - and that’s all they need to do to completely bifurcate the society such that they face no threat to their own position.