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How much that extra cash gives them confidence to spend more - a phenomenon economists call the wealth effect - is a hot topic whenever crypto prices are surging. A group of researchers tried to quantify it and determined that crypto bonanzas in the US aren't exactly spent like windfalls from winning the lottery. And so far, the effect has been relatively modest on the $28 trillion American economy. But if the asset class continues to boom, the study provides insight on potential game-changers in consumer patterns.

Right now older Americans are opening up their wallets and providing a continued boost to the US economy.

PSU reform and privatisation have been ongoing since the times of Rajiv Gandhi, P V Narasimha Rao, and Atal Bihari Vajpayee. Under Narendra Modi's leadership, PSU reform has been further expanded, including the sale of Air India to Tata Group.

The increase in wealth among high-earning Indians has led to a rise in top-end consumption in India. Categories such as leisure, jewellery, out-of-home food, healthcare, and premium brands are expected to benefit.

ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero