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Lebronwon 10/18/21 9:35:10 AM #1: |
https://www.cnbc.com/2021/10/18/the-wealthiest-10percent-of-americans-own-a-record-89percent-of-all-us-stocks.html
The wealthiest 10% of Americans now own 89% of all U.S. stocks, a record high that highlights the stock markets role in increasing wealth inequality. The top 1% gained over $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest data from the Federal Reserve. The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of stocks, down from 12% before the pandemic. The stock market, which has nearly doubled since the March 2020 drop and is up nearly 40% since January 2020, was the main source of wealth creation in America during the pandemic as well as the main driver of inequality. The total wealth of the top 1% now tops 32%, a record, according to the Fed data. Nearly 70% of their wealth gains over the past year and a half one of the fastest wealth booms in recent history came from stocks. The top 1% own a lot of stock, the rest of us own a little, said Steven Rosenthal, senior fellow, Urban-Brookings Tax Policy Center. The growing concentration of wealth comes despite millions of new investors coming into the stock market for the first time during the pandemic, leading to what many have labeled the democratization of stocks. Robinhood added more than 10 million new accounts over the past two years and now has more than 22 million many of them held by younger, first-time investors. Yet while the market may be owned more broadly, the gains and wealth it creates are not being more widely distributed. Rosenthal said that while the army of new investors may be numerous, they are also still small, with the average account size at Robinhood at about $4,500. When markets rise, they will have far smaller dollar gains than wealthier investors with hundreds of thousands or even millions in stock holdings. Many of the younger investors also bought in at higher prices, compared to bigger investors who have been in the market for years and see larger gains, Rosenthal said. Whats more, many of the new investors have more of a trading mentality buying and selling stocks rapidly, with leverage, in hopes of quick gains. While the strategy can create big winners, others may see lower returns than those of investors who simply buy and hold for the long term. The top 10% saw the value of their stocks gain 43% between January 2020 and June of 2021, according to the Fed. The bottom 90% saw stock wealth rise at a lower rate 33%. They might account for a larger share of trading activity, but thats different from ownership and wealth, Rosenthal said. --- Not 1, not 2, not 3, not 4, not 5, not 6, not 7 ... Copied to Clipboard!
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Kitt 10/18/21 9:36:07 AM #2: |
In other news, ice is cold.
--- ... Copied to Clipboard!
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Ving_Rhames 10/18/21 9:36:36 AM #3: |
but dey earned it so every1 else just has 2 earn it 2
--- the real Irving Rameses https://imgur.com/A7f6F9h ... Copied to Clipboard!
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RchHomieQuanChi 10/18/21 9:36:38 AM #4: |
Mmm that delicious wealth inequality and rigging
--- I have nothing else to say ... Copied to Clipboard!
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SoggyBottomBoy 10/18/21 9:36:55 AM #5: |
They couldve paid me to randomly spit out that same exact number without all the research they used.
--- Fingah POP'n each otha's ... Copied to Clipboard!
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Forever_Black 10/18/21 9:37:09 AM #6: |
Im honestly surprise its not more
--- Ooouuu ... Copied to Clipboard!
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Kloe_Rinz 10/18/21 9:38:08 AM #7: |
but hoarding wealth is fine, poor people are bad, its only entitled millennials who care about this stuff. jeff bezos is my god and He can do no wrong
... Copied to Clipboard!
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bladegash 10/18/21 9:45:02 AM #8: |
Sigh
Time to don the robin hood outfit and go full vigilante. --- Snappin necks & Cashin checks ... Copied to Clipboard!
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Clutch 10/18/21 9:58:28 AM #9: |
Its almost like there is some correlation between investing and wealth.
--- "The historian looks backward; eventually he also believes backward" - F.N. ... Copied to Clipboard!
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monkmith 10/18/21 10:01:37 AM #10: |
well if the poor would just hold off buying their next yacht they'd be able to invest too!
--- Taarsidath-an halsaam. Quando il gioco e finito, il re e il pedone vanno nella stessa scatola ... Copied to Clipboard!
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ElatedVenusaur 10/18/21 10:02:48 AM #11: |
Forever_Black posted...
Im honestly surprise its not moreDon't worry, it will be! --- She/her ... Copied to Clipboard!
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Clutch 10/18/21 10:03:02 AM #12: |
bladegash posted...
Sigh Or you could just make moderate investments into your 401k plan and retire with a comfortable nest egg. --- "The historian looks backward; eventually he also believes backward" - F.N. ... Copied to Clipboard!
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monkmith 10/18/21 10:07:08 AM #13: |
Clutch posted...
Or you could just make moderate investments into your 401k plan and retire with a comfortable nest egg.if you just stop eating you'd save a lot of money to do that investing! --- Taarsidath-an halsaam. Quando il gioco e finito, il re e il pedone vanno nella stessa scatola ... Copied to Clipboard!
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Clutch 10/18/21 10:09:42 AM #14: |
monkmith posted...
if you just stop eating you'd save a lot of money to do that investing! Maybe spend a little less time on message boards if youre having trouble supporting yourself? --- "The historian looks backward; eventually he also believes backward" - F.N. ... Copied to Clipboard!
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monkmith 10/18/21 10:13:52 AM #15: |
Clutch posted...
Maybe spend a little less time on message boards if youre having trouble supporting yourself?do breath mints help hide the stink of shit on your breath? --- Taarsidath-an halsaam. Quando il gioco e finito, il re e il pedone vanno nella stessa scatola ... Copied to Clipboard!
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Clutch 10/18/21 10:15:14 AM #16: |
monkmith posted...
do breath mints help hide the stink of shit on your breath? Lack of food must be impacting your ability to think. --- "The historian looks backward; eventually he also believes backward" - F.N. ... Copied to Clipboard!
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monkmith 10/18/21 10:16:37 AM #17: |
Clutch posted...
Lack of food must be impacting your ability to think.and the bootstraps you're strangling yourself with are starving your brain... --- Taarsidath-an halsaam. Quando il gioco e finito, il re e il pedone vanno nella stessa scatola ... Copied to Clipboard!
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Clutch 10/18/21 10:18:07 AM #18: |
monkmith posted...
and the bootstraps you're strangling yourself with are starving your brain... Only one of us is saying they would need to stop eating to save a little money. --- "The historian looks backward; eventually he also believes backward" - F.N. ... Copied to Clipboard!
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monkmith 10/18/21 10:35:18 AM #19: |
Clutch posted...
Only one of us is saying they would need to stop eating to save a little money.only one of us is so full of shit they believe that every poor person has income their wasting instead of investing. --- Taarsidath-an halsaam. Quando il gioco e finito, il re e il pedone vanno nella stessa scatola ... Copied to Clipboard!
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