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Replies to post #124790 on Biotech Values
poorgradstudent
08/08/11 5:10 PM
#124793 RE: zipjet #124790
Consumer spending accounts for about 70% of GDP. The top 5% of consumers by income, account for 20% of consumption spending or 14% of GDP. This subset of consumers is market sensitive and will back down their spending when investments are in the trash. 14% of GDP is a big deal. If this group cuts back their spending by 1/3 it could lead to another ~3M people losing their jobs.