Professor Glenn A. Okun
The Rabid Capitalist: The Big Point is a summary of a detailed note available to paid subscribers.
The old meme that luxury goods makers were recession-proof because their wealthy customers were immune to economic contraction was disproven in 2024. Consequently, luxury goods spending can be used as an indicator of consumption. A recent resurgence in U.S. demand for Swiss watches suggests that the affluent consumer remains healthy financially.
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