Eric, when you are living through history-making events, its often difficult for investors to see exactly what is happening. I have, for some time, put forth the argument that we are at the end of at least a 250-year cycle, and possibly at the end of a cycle that is of the same magnitude as the Roman Empire.
Yes, and the top 10% (doctors, corporate lawyers, high-paid federal government bureaucrats like +GS-13's, etc) compose of at least 50% of consumer spending in the USA.
These are the ones who patronize Disney World, Aspen ski resorts, etc.
The working class try to squeeze by with paying +$300 a night during peak season at a ocean condo on Panama City Beach.
http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2013/8/9_The_World_Is_Now_On_The_Edge_Of_A_Massive_Collapse.html