I think the hourglass has more to do with how we spend. People will still spend a lot on things they really like or hobbies and be cheap in other areas they don’t care about.
People in CV spend for stuff they don’t care about at 99 cent stores, but will still buy nice Lexuses, send their kids to private schools, property investments, fine dining, trips, etc…on the high end.
Like I use cheap 1 dollar shampoo and wear mostly cheap/free shirts. A $10 haircut is $10 too much. But I don’t mind spending on a lux car or nice tech toys…
