Consumers are so demoralized by inflation and high rates they've given up on saving for the American Dream and are spending money instead, economist says

You obviously don’t hang with many rich people. They are regular people. They aren’t special, they just hit the right set of circumstances. Most of the smartest and hardest working people I know are actually not the richest. Capitalism doesn’t reward intelligence or hard work per se. It rewards accumulation of capital which has much more to do with circumstance, investment, and manipulation.