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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

#151

Post by Gasp0de »

kortilla wrote: post #138
Gasp0de wrote: post #108

I was very surprised by the holiday budget. Less than 2500$ for 80% of the population? Does that mean that no one from these 80% stays in a Hotel or AirBnB for longer than a week with their family? No one travels overseas, or if so, only every 5 years or so? 2000$ is what you can easily spend on plane tickets for a family of 4.

Road trips for families is how you stay on a budget. It’s easy to get hotels for around $100 a night that include breakfast if you stay out of world-renowned destinations. A lot of vacations also involve crashing at another family member or friends spare bedroom/fold out couch. I grew up with family vacations like this (inflation adjusted) and I had a great time. It’s hard to wrap your mind around when you think vaca…

100$ for four beds including breakfast? I live in Europe, perhaps that's why the prices feel off. I pay around 100$ per night without breakfast here in most places, for 2 people.

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

#152

Post by jajko »

timewizard wrote: post #135
jajko wrote: post #107

Earlier quoted context omitted.

All major banks paid back all those loans with interest. That was actually net income for governments that lended those money. Who really lost money directly were all those speculators who had 10 mortgages on them and just kept taking more and more. Look, I am all for hatin' the big man when he deserves it and he often does, but lets be a bit smart and not just throw random angry spits without checking the facts, sha…

[flagged]

Not sure why the personal attacks, I believe you can and should do better. Also please stop incorrect claims about what I am doing.

Also you switch goalposts, I've reacted to parent's claims and not ones you are making up as you go. And so on.

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

#153

Post by Mashimo »

blackeyeblitzar wrote: post #38
arvinsim wrote: post #22

Earlier quoted context omitted.

Financial education is useless if you don't have capital. Most poor people are just earning enough to live day by day. Getting financial literacy would help little.

I think the importance of financial education is pretty underestimated. But just to illustrate, investing $10 a month into an index fund would mean something like $100K saved up for retirement. Even if you’re poor, it is usually possible to find that $10.

Ok, lets say you have saved up 10 000 USD in an index fund, and maybe 500 USD in cash in the bank. You car breaks down, you need it to get to work. The heck you going to do?

Education can only help so much when you are poor.

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

#154

Post by vincnetas »

whiplash451 wrote: post #34
robocat wrote: post #20

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_Americ…

Where are the stats for France? Asking genuinely

  France : top 10% own 60%, Bottom 50% own 5%
  USA : top 10% own 72%, Bottom 50% own 2%
  Sweden : top 10% own 60%, Bottom 50% own 5%
Source : https://wid.world/country/france/

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

#155

Post by actionfromafar »

wesapien wrote: post #113
ninetyninenine wrote: post #58

Earlier quoted context omitted.

It’s different this time around. The sheer complexity of society makes it hard to ascertain exactly the true nature of the situation. People who voted for trump aren’t even aware he’s part of the problem of wealth inequality. They aren’t even aware wealth inequality is the problem. At worst we will get an angry mob stampeding the White House with no real direction or objective. Are rich people the problem or is it th…

The memecoin stuff is just chefs kiss. Now he wants to impose tarrifs while not having the local production capacity. The citizens will pay for that. The rich will get the tax cuts and funding while everyone else will get austerity and be required to pull up your bootstraps.

Then, you can always blame the libtards and the Bidens harder.

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

#156

Post by poincaredisk »

jopsen wrote: post #102

Top 10% is actually a lot of people! Wealth equality is not really a goal, it better to ask if the bottom 50% got wealthier in absolute terms, which the author answers in another post: https://awealthofcommonsense.com/2024/06/the-bottom-50/

I was actually surprised it's this high (more equal than I expected). But then I clicked the article and of course the title failed to mention that it's top 10% in the US

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

#157

Post by wqaatwt »

_cenw wrote: post #74
phonon wrote: post #35

Earlier quoted context omitted.

And top 10% household in Japan is about 10 million Yen ($67k)...

Hard to compare without looking at healthcare, social security and similar costs cutting into net income.

https://en.m.wikipedia.org/wiki/Disposable_household_and_per...

Even if adjusted by all those things the median American is doing very well while the Japanese are about on par with Southern/Eastern Europeans these days.

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

#158

Post by Gasp0de »

TobTobXX wrote: post #123
Gasp0de wrote: post #108

I was very surprised by the holiday budget. Less than 2500$ for 80% of the population? Does that mean that no one from these 80% stays in a Hotel or AirBnB for longer than a week with their family? No one travels overseas, or if so, only every 5 years or so? 2000$ is what you can easily spend on plane tickets for a family of 4.

Well yeah, European here so things might be a little different, but our family's budget for holydays was usually around 1500-2500$. As a result I've never travelled outside Europe. I've only flown to the Canary Islands twice and otherwise travelled by car. Big money saver. And also camping is cheaper compared to AirBnB and hotels. Though you can usually squeeze two weeks out of that budget.

I'm European too, and I also usually don't spend more than 2000€ on holidays per year, but when I compare myself to friends and colleagues, I always had the impression that how we go on holidays (camping, traveling by bicycle/train) was relatively uncommon. Therefore I didn't think that 80% of the population went on holidays like that.

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

#159

Post by jliptzin »

cbeach wrote: post #117

The only thing that should matter is that the poorest segment of society becomes richer over time. And it has (in inflation-adjusted terms, lower income Americans have become richer over many decades).

No one cares they can afford a filet mignon once a month if their boss is spending more money on lunch than they make in an entire year

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

#160

Post by actionfromafar »

keernan wrote: post #122
swiftcoder wrote: post #12

Earlier quoted context omitted.

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

Mortgages that were packaged into mutual funds that traded on the stock exchanges. Meanwhile, the insiders who knew what was going on (that the packaged mortgages were super high risk) insured their risk through new financial products - specifically 'credit default swaps' marked by AIG. The gimmick there was that AIG designed the swaps in a way that avoided insurance reserve regulations - and thus AIG had no money se…

The funny thing is, 200 billion seems like pocket change compared to what is about to happen with the Republican budget now.
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