#wealth-concentration

#wealth-concentration

There has been an influx of AI companies opening up shop and they're giving employees giant compensation packages. Some people are getting $1 million bonuses. Homes are getting dozens of offers, which is driving up prices and causing many to sell for hundreds of thousands of dollars over the list price. It's reminiscent of 2020.

You've got to show [people] government can work. Shapiro made a straightforward but understandable case, arguing that not solving problems can lead to an increase in cynicism. He mentioned the evolution of the permitting system in Pennsylvania under his tenure as governor as one example of demonstrating governmental effectiveness and addressing constituent concerns through tangible policy improvements.

The prosperity of this top cohort is not driven by wage growth. While their wages have risen, they have stagnated relative to the explosive returns on capital. Instead, their consumption is driven by the "Wealth Effect." New analysis shows that 70% of recent economic growth is now driven by just 20% of earners. These consumers aren't spending wages; they are spending paper gains tethered to a market bubble.

It's human nature to judge your personal economics and mood on how you feel, influenced heavily by conscious and subconscious comparisons to others. So it's possible President Trump is right: U.S. growth and stocks soar in 2026. But even then, because the AI-connected hyperwealthy do so much better than everyone else, fear and resentment still grow. It's also possible the AI bubble pops, and everyone suffers. But the Have-Lots will (mostly) still have lots.

Chief Executive Steve Squeri hailed millennial and Gen Z Platinum members as "very comfortable paying for its exceptional value and highly engaged in the product," underscoring the company's successful push to attract a new generation of premium customers. The company posted net income of $2.9 billion, reflecting a 16% increase over the prior year. Earnings per share rose 19% to $4.14, topping analyst estimates of $3.99.