> - And a record global middle class that's never been larger or wealthier than today and wants to consume more than ever
Larger population? Sure. Wealthier? Uh, no. By like no meaningful metric that I can think of.
Larger population? Sure. Wealthier? Uh, no. By like no meaningful metric that I can think of.
https://fred.stlouisfed.org/series/PSAVERT
US middle class reacted to the pandemic by saving tons of money. At least, the ones who still kept their jobs (which was most people in fact. Yeah, Hotels / Hospitality / Restaurants / Airlines / Cruises did poorly, but that's still only one subset of the middle class).
Now that the US is leading the vaccinations in the world (at least, in the top 10 countries), and with more and more optimism coming about, people are looking to spend that money they saved.
Plus, on average, more literal money to spend, thanks to having nothing much to spend it on for the last year.
Yup.
> Computing, long distance travel, breadth and depth of entertainment choices, and disease
These have nothing to do with class, and I'm not even sure entertainment choices have gotten any better.