Holy crap. The business world is citing information confirming what millions of Americans have been repeating for years. And an article about this made it to New York Times.
Maybe journalists are going to quit gaslighting us on the economy.
From New York Times comes breaking NOT-news:
The Middle Class Is Steadily Eroding. Just Ask the Business World.
“…As politicians and pundits in Washington continue to spar over whether economic inequality is in fact deepening, in corporate America there really is no debate at all. The post-recession reality is that the customer base for businesses that appeal to the middle class is shrinking as the top tier pulls even further away…”
“…With diners paying an average tab of $16.50 a person at Olive Garden, Mr. Glass said, “The customers are middle class. They’re not rich. They’re not poor.” With income growth stagnant and prices for necessities like health care and education on the rise, he said, “They are cutting back.” On the other hand, at the Capital Grille, an upscale Darden chain where the average check per person is about $71, spending is up by an average of 5 percent annually over the last three years…”