"At the end of July, Amazon reported second quarter results which beat Wall Street expectations on several counts, including a 13% year over year increase in sales to $167.7bn (£125bn)."
The stock-owning class is in a boom. The working class is in a recession.
(People who have stock-market investments and need to work for a living are somewhere in between.)
The average of one billionaire gaining £10M and a hundred middle-class folks losing £100k is solidly positive, so this looks like a "growing economy" to many of the usual metrics.
I am not sure whether the people who are benefiting from all this have noticed how often this sort of dynamic in the past has led to torches and pitchforks and the like.
The stock-owning class is in a boom. The working class is in a recession.
(People who have stock-market investments and need to work for a living are somewhere in between.)
The average of one billionaire gaining £10M and a hundred middle-class folks losing £100k is solidly positive, so this looks like a "growing economy" to many of the usual metrics.
I am not sure whether the people who are benefiting from all this have noticed how often this sort of dynamic in the past has led to torches and pitchforks and the like.