the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
the Voice of
The Communist League of Revolutionary Workers–Internationalist
“The emancipation of the working class will only be achieved by the working class itself.”
— Karl Marx
Sep 29, 2025
The stock market continues to hit one record high after another. It’s gone up 50% in the last two years, increasing under both Biden and Trump. That means stocks valued at a million dollars two years ago are now worth half a million dollars more.
Consumer spending also keeps going up, especially for luxury goods. People with investments to draw from have been spending more every year, as their wealth keeps increasing. For them, the economy has been doing great!
Not so much for the rest of us. All of the growth in consumer spending is driven by the richest 10%. The poorest 80% of people—meaning, the whole working class—aren’t buying more this year than they did last year, even though we are supposedly in an economic boom.
This trend of rich people having more to spend while ordinary people have less has been going on for decades, under both parties. Today, the richest 10% of people in this country account for about half of all consumer spending, compared to about a third 30 years ago.