Research ReportsConsumer Bifurcation and the Death of the Middle: Portfolio Strategy for a Barbell MarketResearch Report No. 3 | The top 10% of households drive 23% of consumer spending, and the middle your portfolio was built for is vanishing.David HappeJul 23, 2026∙ PaidShareSeptember 2026 | by David HappeThis post is for paid subscribersSubscribeAlready a paid subscriber? Sign in