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The Good-Life Bulwark

"We'll visit a palace, and dine with a king. We're gonna start living, you just wait and see … Nothing but the best is good enough for me." – Frank Sinatra, "Nothing but the Best"

Chart of the Day

Good morning!

The rich can’t stay rich forever. Can they?

Since the pandemic ended, the surprising resilience of consumer spending has served as an unexpectedly stable pillar of the economy. The initial wave of so-called rage-spending was fueled by fiscal stimulus and hefty savings accumulated during...

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