Bottom Of K-Shaped Economy 'Already in Recession,' Says Atwater

Peter Atwater, president of Financial Insyghts, said that the biggest division is America is not on the left and right, it's up and down between those at the top and...

By Bloomberg Markets · Bloomberg Markets

Peter Atwater, president of Financial Insyghts, said that the biggest division is America is not on the left and right, it's up and down between those at the top and bottom of the US economy. For those at the top, the economy looks good and they are 'spending like there's no tomorrow.' But Atwater says Americans on the bottom are already facing recession conditions, as people struggle with affordability. (Source: Bloomberg)