Rational Dissent Episode 012. What the 'K' is Going on? Available on YouTube, Apple Podcasts, Spotify, Overcast, and more. Markets and portfolios are keeping top earners spending, while many paycheck-to-paycheck households fall behind as prices have risen faster than wages since COVID. Chapters 00:00 - K Shaped Setup 01:59 - Income Deciles Breakdown 02:38 - Where Money Comes From 03:29 - Spending Essentials Gap 04:50 - Who Drives Consumption 06:02 - Affordability Poll Reality 07:45 - Wages Versus Inflation 09:27 - Stocks Versus Sentiment 12:45 - Can Policy Fix It 14:42 - Fed Limits Fiscal Trap 20:08 - If Markets Roll Over 24:44 - Social Unrest Risk 28:28 - Advice For Leaders 30:17 - Deficits And Inflation Loop 33:03 - Wrap Up