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aviator prada sunglasses be? One explanation is that higher income households have grown so disenchanted with the performance of their savings and investments through a combination of ultra low savings rates and the miserable long term performance of funds tied to the US equity market that they have chosen to "invest" in products they can at least derive some pleasure from.But growing inequality looks to be a big factor. Lewis notes that high income households in the US have been improving their position relative to the rest for some time. The average income of the top five per cent of US households was 3.62 times the median in 2009, up from 3.16 times in 1990 and 2.65 times in 1970. Whereas the median household income rose in real, after inflation, terms by only 14.7 per cent between 1970 and 2009, the real income of the top five per cent advanced by 57.6 per cent over the same period.And increasingly wide income dispersion is a trend evident in most of the advanced economies. Says Lewis: "For the USA, the Gini index, a statistical measure of income inequality, was 46.8 in 2009, according to the Census Bureau, as compared with 39.4 in 1970. Comparable figures for Japan show an increase from the 20 25 range in the early 1970s to 39 in recent years, while in the UK the rise has been from 25 in 1970 to 36 currently."The shift in post industrial economies towards knowledge based economic activities is likely to account for the higher salaries accorded to workers with educational qualifications. Certainly the figures seem to drive home the point about the need for higher education if social mobility is to flourish. The imperative of extra education and skills funding rather than demotivating tax rises on higher earners has still not been fully grasped. Until it is, we are likely to see a subdued consumer spending picture overall for a considerable time to come.That in itself will be a test of politicians' nerves: can they stick with structural reform before giving in to the easy rewards of a pre election "feel good" consumer boom?This website and its associated newspaper adheres to the Press Complaints Commission Code of Practice. If you have a complaint about editorial content which relates to inaccuracy