The “Richcession”: A Recession for America’s Wealthy and Its Broader Implications
The “Richcession” is a unique economic phenomenon that challenges traditional notions of recession. While it primarily affects America’s wealthy, its implications are far-reaching, affecting consumer behavior, job markets, and potentially the broader economy. However, the global economic landscape offers opportunities for rebound, making it crucial for high-net-worth individuals to strategize effectively in these turbulent times.