U.S.: The Deepening Of America's Pockets

As wealth in the U.S. reaches record highs, so does spending

Alexis de Tocqueville observed that the love of wealth is at the bottom of all that Americans do. That was back in 1835. And just recently, data from the Federal Reserve confirm that Americans as a whole are getting dramatically wealthier, thanks mostly to the stock market. More important, those riches are financing a spending boom, the likes of which have never been seen this far into a business cycle.

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