this post was submitted on 06 Sep 2026
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She has a point (lemmy.zip)
submitted 1 day ago by roserose56@lemmy.zip to c/whitepeopletwitter@sh.itjust.works
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[–] ByteJunk@lemmy.world 1 points 6 hours ago* (last edited 6 hours ago)

Excellent site for backing up my claim, thanks you.

Consumer spending, as measured by Personal Consumption Expenditures (PCE) by the U.S. Bureau of Economic Analysis], accounts for 68% of the GDP.

Top 3 items:

  1. Housing (33.4% of budget): rent, mortgage interests, property taxes, water, electricity, internet, appliances, furniture.

  2. Transportation (17.0%), heavily influenced by commuting habits: cars, fuel.

  3. Food (12.9% of budget), includes groceries and food away from home (restaurants)

  4. Insurance, Pensions, & Healthcare (20.4% combined)

  5. "Discretionary", everything else: clothing, entertainment, education (!), ...

That's a rather interesting breakdown, and a few items surprised me a lot. In any case, and more to the point I was replying, the BLS Consumer Expenditure Survey gives this breakdown:

  • The Top 20% (Highest Income Quintile): Accounts for roughly 35% to 38% of total consumption.

  • The Middle 60% (Middle Class): Accounts for roughly 53% of spendingg

  • The Bottom 20% (Lowest Income Quintile): Accounts for roughly 9% of spending.

It seems like this survey, since it's based on questionnaires, tends to underreport luxury goods, so in reality it might be skewed more towards the top 20% than what's presented there.

Even if that's the case, surely it's nowhere near the point of "not being profitable to sell to normal people", as was said.