Part 7/10:
The crisis extends beyond dining tables. Economic indicators reveal a troubling pattern: consumer confidence is at its lowest since 2022, and household debt has hit record highs. Even fast-food chains like Chipotle and Wendy’s have announced massive store closures, illustrating how the industry is succumbing to financial strain.
What this signals is a broader economic malaise. The wealthy continue to spend, but their money is largely concentrated in stock portfolios or luxury purchases that do not circulate through the economy. As a result, broader economic growth stalls because the typical consumer — the backbone of economic activity — has effectively been priced out of the market.