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The top 10% owns 87% of the stocks

awealthofcommonsense.com

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Re: The top 10% owns 87% of the stocks

#11

Post by paganel »

blackeyeblitzar wrote: post #2

Financial education - spending less, saving up, and investing - is common sense but maybe needs to be taught in school. Or maybe the new sovereign wealth fund will indirectly reduce this inequality without needing every individual to take action. Not sure what other options there are.

How can one “financially educate” himself out of the prices doubling in a matter of a few years? And that’s until we get to basic stuff like the cost of housing.

Which is to say that neo-liberal patches like “you’re poor because you’re financially illiterate!” need to go, a real structural reform must be put in place in most of the Western world.

Re: The top 10% owns 87% of the stocks

#12

Post by swiftcoder »

denkmoon wrote: post #10
weatherlite wrote: post #4

So a stock market and/or real estate crash can actually be good to reduce inequality . In fact I think its about the only way to dramatically reduce inequality. Think about young people trying to buy their 1st home now, its becoming impossible.

The 2008 stock market crash famously reduced inequality. Definitely didn't increase inequality by leaving the average person (via government bailouts) holding the bag.

The 2008 crash was also famously centred around mortgages, rather than pure stocks

Re: The top 10% owns 87% of the stocks

#13

Post by swiftcoder »

andirk wrote: post #7

I'm sure it's true, but is this considering 401k? Where the person has little to do with the individual stonks. > "Wealth inequality is only getting worse in this country and frankly I’m not sure what stops this train." Best trick is allowing the top 50% to hate the bottom 50% and naturally visa versa BUT ALSO have a huge portion of the bottom 50% to root and vote for the top.

It's not really the top 50% and bottom 50% though, is it? More like top 10% and bottom 90%. Or even top 1% and bottom 99%, depending on where you draw the rich/poor dividing line

Re: The top 10% owns 87% of the stocks

#14

Post by iLoveOncall »

In the US you need to earn only $178,611 as a HOUSEHOLD to be in the top 10%. That's less than $90K per person.

Comparatively, you need to earn $663,164 to be in the top 1%, and more than $3M to be in the top 0.1%.

I just want to highlight this to remind that the top 10% is by far not made up exclusively of ultra-rich individuals like people on internet like to believe.

Re: The top 10% owns 87% of the stocks

#16

Post by bdangubic »

29athrowaway wrote: post #8
weatherlite wrote: post #4

So a stock market and/or real estate crash can actually be good to reduce inequality . In fact I think its about the only way to dramatically reduce inequality. Think about young people trying to buy their 1st home now, its becoming impossible.

They would get bailed out with something like Quantitative easing. Congress will not let the stock market crash because they are #1 insider traders.

so short-sighted, they will either exit or short it before they let it crash. they make $ either way mate

Re: The top 10% owns 87% of the stocks

#17

Post by ImHereToVote »

iLoveOncall wrote: post #14

In the US you need to earn only $178,611 as a HOUSEHOLD to be in the top 10%. That's less than $90K per person. Comparatively, you need to earn $663,164 to be in the top 1%, and more than $3M to be in the top 0.1%. I just want to highlight this to remind that the top 10% is by far not made up exclusively of ultra-rich individuals like people on internet like to believe.

I think what you are trying to say is that the average American is absurdly poor.

Re: The top 10% owns 87% of the stocks

#18

Post by ImHereToVote »

paganel wrote: post #11
blackeyeblitzar wrote: post #2

Financial education - spending less, saving up, and investing - is common sense but maybe needs to be taught in school. Or maybe the new sovereign wealth fund will indirectly reduce this inequality without needing every individual to take action. Not sure what other options there are.

How can one “financially educate” himself out of the prices doubling in a matter of a few years? And that’s until we get to basic stuff like the cost of housing. Which is to say that neo-liberal patches like “you’re poor because you’re financially illiterate!” need to go, a real structural reform must be put in place in most of the Western world.

[flagged]

Re: The top 10% owns 87% of the stocks

#19

Post by tonyedgecombe »

ImHereToVote wrote: post #17
iLoveOncall wrote: post #14

In the US you need to earn only $178,611 as a HOUSEHOLD to be in the top 10%. That's less than $90K per person. Comparatively, you need to earn $663,164 to be in the top 1%, and more than $3M to be in the top 0.1%. I just want to highlight this to remind that the top 10% is by far not made up exclusively of ultra-rich individuals like people on internet like to believe.

I think what you are trying to say is that the average American is absurdly poor.

It doesn't look like that from outside America.

Re: The top 10% owns 87% of the stocks

#20

Post by robocat »

And how much of that is owners of tech companies that they founded?

The US economy depends on those tech companies: try succeeding in a country that only has old school businesses: I remember the top stocks for France are terrifyingly old. I'm in New Zealand and we hardly have any tech stocks. Xero, RocketLabs? We often sell our successes overseas.

Edit: many of https://en.wikipedia.org/wiki/List_of_wealthiest_Americans_b... are founders. Looking at: https://en.wikipedia.org/wiki/List_of_French_billionaires_by... and too many of the businesses are over a century old, more than a few from the 1800s.

Edit: The irony of rich Americans talking about wealth inequality is harsh. There's billions of people that desperately want the resources that a poor US citizen spends. If you are American and want to talk about the wealthy, look at yourself and ask how your wealth should be taken from you and given to the poor of the world...

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