Scott Winship discusses American wealth growth, exemplified by the SpaceX IPO making thousands of employees millionaires. He argues the middle class is not “hollowing out” negatively; rather, it is shrinking because more families are ascending into a booming upper-middle class, with wealth levels higher than ever recorded.
Scott Winship explains the discrepancy between gloomy consumer sentiment and actual financial growth. Despite inflation concerns and high grocery prices, real wages are up. People often perceive the national economy as failing based on social media trends, even when their own personal financial situations remain stable or improve.
