“The real demand is at the very top. The big guys, the billionaires, have plenty of money, and they’re buying. But the middle and lower end has been much slower to recover from the crisis.”
Philip Rushton has been selling private jets to the global rich for more than three decades.
In just about every economic cycle, sales of small jets and big jets tended to move together (rising and falling with financial markets and fortunes of the wealthy).
The wealthy now have a wealth gap of their own, as economic gains become more highly concentrated at the very top.
As the top one-hundredth of the 1 percent pulls away from the rest of that group, the superrich are leaving the merely very rich behind. That has created two markets in the upper reaches of the economy: one for the haves and one for the have-mores.