Going to a meeting this afternoon with the other former Canadian investment manager who owned a piece of Thames Water and TW may come up (it has many times previously!).
A variation (which I don’t have access to yet) of this slide was one of many that were discussed yesterday at the investment seminar I attended. Their slide showed that the top 20% of income earners in the US provide 63% of total spending.
This skewing has lasted for more than 25 years so is not new. This spending is somewhat fuelled by high asset values so possibly it would take a massive correction in equity values to return to the pre-2000 less skewed spending distribution?
One bright spot in the UK is that the judiciary is still ok
Labour rolled over to pro-Israel interests in the UK and proscribed a tiny activist group called Palestine Action for breaking into an army base and spray painting some planes.
This was disgraceful behavior by the Govt which was protested by people from all walks of life.
The UK already has laws in place to deal with the things like trepassing, and damage to public property. Instead, they were swayed by the pro-Israel lobby and decided on an extremely heavy-handed response.
Government lost in the high court after a judicial review.