

Unfortunately, it can also (and more often has in history) have the opposite effect. Because consumer spending is so highly concentrated among the best-off, we could see a significant spending contraction in lower brackets that would have a minimal effect on total spending.
The people who now fuel the market are those with the most insulation from tough times, so even if 100% of low earners found a way to halt 100% of their spending, big companies’ profits would only dip 10%, and they’ll end up retaining the customers who can handle price increases.
That’s definitely Big Boy with the fro in the front