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Repeat after me: the stock market is NOT the economy.
FACTS:
The wealthiest 10% of US households own 84% of value of stocks. The top 1% controls 40%.
The wellbeing of vast majority of Americans has nothing to do with stocks.
FACTS:
The wealthiest 10% of US households own 84% of value of stocks. The top 1% controls 40%.
The wellbeing of vast majority of Americans has nothing to do with stocks.
Perceived link b/w economy & market is pure nostalgia for time when employment & market had some connection & wealth inequality was better.
1962: 2 most highly valued companies employed nearly 1.2 mm workers.
2019: 2 most highly valued(Microsoft and Apple) employed 280,000.
1962: 2 most highly valued companies employed nearly 1.2 mm workers.
2019: 2 most highly valued(Microsoft and Apple) employed 280,000.
Stock market growth now is driven largely by stock buy-backs, which keep money circulating among the already-wealthy. That’s what GOP $2 trillion tax scam did.
It’s not trickle-down economics, it’s gush-up economics: take from working people & give to wealthiest.
It’s not trickle-down economics, it’s gush-up economics: take from working people & give to wealthiest.
