Morning Brew Daily The Wealthy Are Fueling US Spending & ChatGPT For Teens?
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Sep 17, 2025 Consumer spending remains robust, driven by the wealthy, despite economic challenges for the broader population. Tesla faces scrutiny over its door handle design after accidents raise safety concerns. OpenAI discusses the safe use of ChatGPT for younger users. In sports, the NFL markets flag football in Saudi Arabia, seeking to globalize its appeal. Lastly, LimeWire has taken on the notorious Fyre Festival brand, showcasing the trend of reviving infamous names in pop culture.
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Spending Is Fueled By The Wealthy Few
- A small wealthy cohort is propping up US consumer spending despite broad economic strain.
- The top 10% now account for nearly half of total spending, amplifying inequality risks for growth.
Beneath Retail Gains: Household Strain
- Underneath headline retail gains, many households are weakening: falling credit scores and mortgage-help searches are rising.
- That divergence creates a lopsided economy where aggregate data hides real strain.
Asset Gains Mask Fragile Demand
- Rising stock and home equity values let wealthy households spend more even as others pull back.
- That makes spending fragile: a market or housing drawdown could quickly cool demand.