The Debt Ceiling Is Lifted...The Rich Man Economy Salutes You!

Good morning…

Yesterday I wrote about the ‘degenerate economy’ marching on as the debt ceiling gets lifted.

The other area of the economy that interest and fascinates me as a consumer and investor is the growing ‘rich man’ economy.

Though tech stocks suffered the most during the 2021 and 2022 selloff, there are now 7 US companies that have passed $1 trillion in market cap and they are all technology companies …

While this has happened the amount of billionaires continues to surge…

Billionaires must have their toys so, the franchise values of US sports franchises continues to march higher as well…

I am 58 and am now hoping I don’t make enough money that I need to pacify and excite myself by being ‘owned by’ the act of owning a piece of a major sports franchise.

All trends end, as humans have the great ability to create supply for the growing demand. In the meantime, the billionaires, aspiring billionaires and the degenerates seem easier and more fun to cater to than the angry middle.

PS - into which category does the ‘scrotum‘ category that Wired magazine just covered (including portfolio company Manscaped) fit into. I think all three?