that money if you break it down in the four quad rants of income the bottom half of america has used theirs up, okay? they don t have 1.5 trillion. the top half does. particularly the number one bracket. they got theirs by saving that money. they aren t going to go down on it. that s why the federal reserve is so important. the federal reserve is looking numbers. folks who are wealthy won t draw down on their savings. they won t have to. so the biggest wild card in all of this right now is the federal reserve. if they go too far. to a degree we know their hand has been forced because of fiscal spending that is nuts. they re trying to put out a fire that the white house keeps stoking. dana: another thing that is happening for people who are shopping at that lower income bracket, right? doug mcmillan is warning about theft becoming a real issue. theft is an issue.
and have you cleared it? and what was that like? well, those shelves in our lives never get completely cleared. but i have done a lot of revisiting. and as i write in the book, this quarantine period, this long period of isolation for me, what that forced stillness we were all subjected to forced me to sit in my quietness because i didn t have busy as a defence mechanism. i didn t have the distractions of busy . and let me qualify that by saying and i was lucky because i was in an income bracket where we had a stable home, where we were not essential workers, where we weren t a part of the community of people who had to put their lives at risk to help save us all. so i m not complaining, but i m
intensely busy time. and ijust wonder, have you ever gone back to that shelf and have you cleared it? and what was that like? well, those shelves in our lives never get completely cleared. but i have done a lot of revisiting. and as i write in the book, this quarantine period, this long period of isolation for me, what that forced stillness we were all subjected to forced me to sit in my quietness because i didn t have busy as a defence mechanism. i didn t have the distractions of busy . and let me qualify that by saying and i was lucky because i was in an income bracket where we had a stable home, where we were not essential workers, where we weren t a part of the community of people who had to put their lives at risk to help save us all.
this quarantine period, this long period of isolation for me, what that forced stillness we were all subjected to forced me to sit in my quietness because i didn t have busy as a defence mechanism. i didn t have the distractions of busy . and let me qualify that by saying and i was lucky because i was in an income bracket where we had a stable home, where we were not essential workers, where we weren t a part of the community of people who had to put their lives at risk to help save us all. so i m not complaining, but i m saying that that was probably the first time in most of my adult life where i couldn t be busy any longer, and i had to sit in my own thoughts and sort through, how did i get here? what does this all mean? how did our country, our world, get into the mess that we re in? and my book, this current book,
that s a discount grocer compared to where you would go elsewhere. so they attracted a lot of new customers and 75% of those new shoppers are in a higher income bracket making at least $100,000 a year. that really shows that everyone is looking for those deals. and when the shoppers do come through the doors of walmart, they re looking for cheaper items. their proteins are things like hot dogs and beans over pricey meat from the earnings report. the same mentality being applied to the holiday season, walmart also saying in the earnings report people are spending more on food and less on the discretion area items like clothing and gifts. that s why we re seeing early deals to help get shoppers through their doors early. but even with the deals, the tough thing for families, buying gifts for the holiday season is that they are expected to be stretched thin. we re seeing consumers saving less money than they were before. so we re spending a larger proportion of our disposable income, an