Inflation divide: Wealthy Americans splurge while poorest pull back

[ck4829]

NEW YORK — Americans at the low end of the income rung are once again struggling to make ends meet.

A confluence of factors — the expiration of federal stimulus checks and surging inflation on staples like gas and food — are driving an even bigger wedge between the haves and have-nots.

While wealthier shoppers continue to splurge, low-income shoppers have pulled back faster than expected in the past two months. They're focusing on necessities while turning to cheaper items or less expensive stores. And they're buying only a little at a time.

The deep divide in spending was reflected in the latest round of quarterly earnings for retailers. At the high end of the spectrum, Nordstrom and Ralph Lauren reported stronger-than-expected sales as their well-heeled shoppers returned to pre-pandemic routines. Lululemon also reported strong quarterly sales of its pricey athletic wear.

https://www.pressdemocrat.com/article/industrynews/inflation-divide-wealthy-americans-splurge-while-poorest-pull-back/

"Inflation"

[Johnny2X2X]

1. The lowest wage workers actually saw the biggest raises

https://www.bostonglobe.com/2021/12/09/business/first-time-decades-earnings-are-rising-faster-lower-wage-workers/#:~:text=In%20the%20past%20year%2C%20the,the%20University%20of%20Massachusetts%20Amherst.

But the point is taken, there is a divide in America. The haves and the have nots. I also think that divide has been heightened by Covid as white collared workers were able to WFH during the pandemic, this led to many financial benefits. Blue collared workers didn't have this luxury and were still driving to work daily spending money on gas and maintenance for their vehicles.

[JustAnotherGen]

3. White Collar Manufacturing Too

We were going to work too. We have our jobs because of our factory team (at my employer that was our philosophy as managers).

[JustAnotherGen]

2. Little error in their article

Image caption shows her with her two grandchildren but article states:

Kisha Galvan, a 44-year-old mother of eight children from ages 9 to 27, was able to stock up on groceries for the week and buy extras like clothing and shoes at Walmart for her children last year.

And how many live with her?

I mean - I do NOT doubt the pain people are feeling - but folks who are numb to and can't muster one ounce of empathy for the stress on middle class to poverty class Americans . . .

They are going to run with that. *smdh* The media needs to do a better job.

[AntivaxHunters]

4. So typical America in a nutshell