Americans Spending More, Falling Further Behind

Despite inflation-adjusted incomes falling dramatically since January 2021, Americans are buying more than ever. That may sound like a contradiction, but it’s perfectly possible, at least in the short run. Americans today, especially the young, are just “bougie broke.” That’s a fancy way of saying people have given up on saving, investing and planning for their future, so they spend every last dime in hedonistic pleasure-seeking. Ironically, the sky-high cost of living is what drives people to spend frivolously. Read Full Article »