Gifts / Sports & Toys

According to the observation report of Huacheng Import and Export Data, in the past 10 months, there has been a serious separation between the bottom people of the United States and the domestic rich class. The bottom people are facing rising prices and increasingly inflated bills, while the rich people on the other side are benefiting from the appreciation of the exchange rate brought by the increase in interest rates of the United States dollar, which has opened a frenzy of overseas shopping.

The manufacturing industry has no hope of recovery under the high interest rate of US dollars, and the bottom people can not meet the employment demand of Silicon Valley and Wall Street. Consumption degradation and luxury goods hot sales exist in the United States at the same time!

In the past 10 months, there has been a serious separation of life between the bottom citizens of the United States and the domestic rich class. The bottom is facing rising prices and rising bills, while the rich on the other side are benefiting from the appreciation of the exchange rate brought by the US dollar interest rate increase, which has started the overseas rush. Opening the foreign e-commerce statistics website EtsyHunt, we can see that the consumption of luxury goods in the United States has increased by 14% year-on-year this year. Even compared with 2019 before the epidemic, the total consumption has increased by nearly 50%. Benefiting from the strengthening of the US dollar exchange rate, a large number of Americans have increased the consumption of overseas goods. Central Europe and Southeast Asia are both popular destinations, but the income of the bottom people in the United States has not increased significantly, The inflation index of nearly 8% has kept them at the "moonlight" level for a long time. The luxury consumption represented by handbags, watches and decorations is far from their world.

The consumption of low - and middle-income people has been significantly degraded

According to the observation report of Huacheng Import and Export Data, although the consumption capacity of the rich in the United States has increased sharply, the life of the bottom class in the United States has become more difficult in the past two years. 70% of the low and middle income people in the United States report that the monthly expenditure on food and transportation has become higher, especially the oil price has doubled compared with two years ago, and the travel cost has seriously limited the quality of life of the bottom class in the United States, More homeless people spend their money on medical expenses. Monkeypox, COVID-19 and excessive drug use have become the top killers of the health of the bottom Americans.

However, the boom in consumer goods, which was once maintained by paying money, did not continue in 2022. The consumption concept of "smart walk once" has made the bottom of the United States close to bankruptcy. According to Huacheng Import and Export Data Observation, 59% of the middle class in the United States no longer regard big brands as their only source of consumption, and nearly 70% of Americans are willing to use some cheaper cheap accessories as party gifts at the epidemic stage.

High-income groups scatter money overseas

However, the situation of consumption degradation does not exist for the rich class in the United States. On the contrary, in 2021, when the Federal Reserve flooded, the wealth of many rich Americans did not fall but rose. The wealth of the "super rich" in the top 1% of the income of the United States has exceeded the total wealth of the middle class families accounting for about 60% of the population, which is the first time in the history of the United States.

Trapped by logistics and inflation, the rich Americans did not spend their money at home after they had made enormous wealth. On the contrary, Europe and Southeast Asia have become the first choice of the rich Americans. According to the Huacheng Import and Export Data Observation, the euro has depreciated by more than 20% against the dollar this year, and the exchange rate of some emerging countries' currencies against the dollar has even depreciated by more than 100%. In the second quarter of this year, the number of Americans who bought properties overseas has increased by 36% year-on-year, Many wealthy Americans choose to buy luxury houses in London, Paris and coastal cities in Southeast Asia.

So the division between the rich and the poor in the United States continues to intensify under the wealth tear. The bottom people can't see the hope of change in their lives. They can barely survive by relief and government money. The rich people rely on financial games to wait for the appreciation of wealth to go overseas for consumption. The economic cycle based in the United States is gradually collapsing. The manufacturing industry can't see the hope of recovery under the high interest dollar, and the bottom people can't meet the employment needs of Silicon Valley and Wall Street, Consumption downgrade and luxury goods hot sale exist in the United States at the same time, but all of these are reasonable under the United States legal system. What is more ironic is that under the condition of the unchanged trend of interest rate increase in the United States, the ability of rich Americans to make overseas purchases will further increase, while the prices of the United States, which cannot make blood alone, still cannot see the possibility of decline. Huacheng Import and Export Data Observation Report.