Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
The consumption of luxury goods, specifically Swiss watches, serves as an indicator of the health of the affluent consumer. The wealthy shopper is not immune to economic contraction. The latest news from the Swiss watch industry has demonstrated that the wealthy are experiencing economic pain. The high-income consumer’s contribution to GDP growth began to weaken prior to the chaos and uncertainty introduced by the Trump administration.
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