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[quote=Anonymous][quote=Anonymous]Yeah, I'm not sure but my thoughts are...lots of corporations are still making money, lots of money. Raising prices and cutting expenses/jobs.  [b]Stock prices go up.  Millions of people autoinvest into stock funds in 401(k)s, IRAs, brokerage accounts, etc.  Financial planners say...don't pull out, ride it out. Think long term.  So although many families are struggling, stock market is doing well.[/b] Like previous poster said, there are still wealthy people spending plenty of money as well.[/quote]

This is a huge part of it. You see this on this forum all the time - boomers or gen X who have never made more than $200K HHI or whatever now worth many millions because they invested in a broad index fund for decades and didn’t panic during downtowns. Then you’ve got the Millenials and Gen Z (most dual income as well) making big money, and also saving like crazy in case the music stops. This all creates a relatively bulletproof top 10% or 20% or whatever that can continue spending even during downturns.  [/quote]

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