The economy is splitting in two.
Yesterday I toured a new gym in town charging $500/month. They offer blood work, recovery, and concierge-style fitness, but most people are really paying for exclusivity.
They haven’t even opened yet and they’re already 25% sold out.
Later that same day, I talked to a family friend who has owned restaurant chains for 25 years.
He told me they are seeing the highest rate of declined credit cards at the register they’ve ever seen.
Higher than 2008.