Part 6/7:
A recent report highlighted that the top 10% of earners in the US are responsible for nearly half of consumer spending, reflecting a dependence on affluent Americans for economic growth. Since mid-September, these high earners increased their spending, underlining the disparity in economic recovery where those without assets lag behind in recovery.
Given the current economic climate, if the stock market were to take a downturn, it could lead to a significant contraction in spending among high-income individuals, thereby affecting overall economic health and, by extension, companies like Tesla.