S&P sets records

Eagle-Keeper · 2024-10-26T16:48:13.635Z

Gaius:

Eagle-Keeper:

I’m also aware that the gains in the Stock Market largely go to the top 10%

The wealthiest 10% of Americans own 93% of stocks even with market participation at a record high

Caution.

While there is a lot of wealth disparity in the US and elsewhere,
but that number and that article are full of crap.

Clearly data can be skewed to make things look a certain way, nonetheless it’s indisputable that Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more!

Jezcoe · 2024-10-26T17:04:53.364Z

Eagle-Keeper:

Gaius:

Eagle-Keeper:

I’m also aware that the gains in the Stock Market largely go to the top 10%

The wealthiest 10% of Americans own 93% of stocks even with market participation at a record high

Caution.

While there is a lot of wealth disparity in the US and elsewhere,
but that number and that article are full of crap.

Clearly data can be skewed to make things look a certain way, nonetheless it’s indisputable that Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more!

Gains in the stock market affect me positively.

That is separate from tax cuts for the rich.

Guilds · 2024-10-26T17:48:02.487Z

Eagle-Keeper:

Clearly data can be skewed to make things look a certain way, nonetheless it’s indisputable that Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more!

401(k) plans hold $7.4 trillion in assets as of December 31, 2023, in more than 710,000 plans, on behalf of about 70 million active participants and millions of former employees and retirees.

Gaius · 2024-10-26T17:55:55.369Z

Eagle-Keeper:

Gaius:

Eagle-Keeper:

I’m also aware that the gains in the Stock Market largely go to the top 10%

The wealthiest 10% of Americans own 93% of stocks even with market participation at a record high

Caution.

While there is a lot of wealth disparity in the US and elsewhere,
but that number and that article are full of crap.

Clearly data can be skewed to make things look a certain way, nonetheless it’s indisputable that Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more!

You make very good points. I do not wish to detract from them.

What I wish to avoid is the false mindset that the stock market is about rich people and rich families.

Here is a useful way of thinking:
1.) When an article tells you “the wealthiest 10% own 97% of the stocks” we must first divide that stock ownerhip in half. Half of all stocks are not even owned by families they are owned in the fomr of univerity endowments, endowments of non-prfit hosptials, insurance companies etc…—> RESULT: The wealhtiest 10% of households own closer to 47.5% of stock

2.) When an article tells you “the wealthiest 10% own 97% of the stocks” we must also consider that half of all americans don’t own any stocks (or much of anything) —> Combining the two: Of Americans who own stocks at all, the wealthiest 20% own 47.5% of the stock market.

3.) Even those numbers are baed on households. Given america’s high rate of divorce/single-parenting we must also consider single-earner vs two-earner households.

Gaius · 2024-10-26T18:05:46.693Z

btw gold prices touched another all time high this week
Did it rise because Joe Biden made is shiner?

Gold does not tend to rise when the economy is strong.
It tends to rise in response to fear.

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Eagle-Keeper · 2024-10-26T18:09:28.916Z

Jezcoe:

Eagle-Keeper:

Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more!

Gains in the stock market affect me positively.

That is separate from tax cuts for the rich.

But the 2017 TCJA wasn’t just tax cuts for the rich, the middleclass benefitted more so from that than statistically than the rich than in comparison to Stock Market gains.

Samm · 2024-10-26T20:26:32.768Z

Eagle-Keeper:

tnt:

Eagle-Keeper:

So if you believe that Harris/Biden are the reason the S&P set all time highs, then why don’t they put everyone’s economic situation at all time highs as well?

Our company never had better years than 2022 and 2023.

I understand that we are not the larger economy and we were set up just right for post covid madness, but…

Not what I asked. Furthermore, I’m not one of the ignorant who believes that the Stock Market (all 6,000+ companies) is controlled by a single individual. Also, I’m also aware that the gains in the Stock Market largely go to the top 10%

The wealthiest 10% of Americans own 93% of stocks even with market participation at a record high

The top 10% starts at about $125-130,000. It’s reasonable to think that a large majority of people in that income range have retirement accounts. Most retirement accounts include stocks. I don’t find that stat in the link the least bit surprising or alarming.

biggestal99 · 2024-10-27T12:11:27.546Z

Eagle-Keeper:

Clearly data can be skewed to make things look a certain way, nonetheless it’s indisputable that Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more

ANYONE who has a 401k in place for the last 4 years has profited by the stock market going up, not just rich people. i am far from rich but my 401k has went up a lot in the past 4 years.

Allan

Gaius · 2024-10-27T19:45:39.042Z

biggestal99:

Eagle-Keeper:

Clearly data can be skewed to make things look a certain way, nonetheless it’s indisputable that Stock Market gains largely favor the wealthy and MUCH MORE so than so-called tax cuts for the rich. Mostly looking to expose the hypocrisy of those like @tnt, @Guilds, @biggestal99, @Jezcoe, @PurpnGold, etc., whom bemoan tax cuts that make the rich people richer but applaud gains in the Stock Market that do so but substantially more

ANYONE who has a 401k in place for the last 4 years has profited by the stock market going up, not just rich people. i am far from rich but my 401k has went up a lot in the past 4 years.

Allan

Well not if you specialize in woke (ESG) investments

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(Bloomberg) – Princeton University’s $34.1 billion endowment is bringing up the rear in investment returns among Ivy League peers for the second straight year. . . .

Princeton, the richest college in terms of endowment per student, is heavily reliant on the fund. It provides about two-thirds of the school’s net annual operating revenues, up from about one third in 1997. In the current freshman class, about 72% of students qualified for financial aid. . . .
Princeton’s $34 Billion Fund Trails Ivy League With 3.9% Return

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Diff source:

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Eagle-Keeper · 2024-10-27T20:55:34.679Z

Samm:

Eagle-Keeper:

tnt:

Eagle-Keeper:

So if you believe that Harris/Biden are the reason the S&P set all time highs, then why don’t they put everyone’s economic situation at all time highs as well?

Our company never had better years than 2022 and 2023.

I understand that we are not the larger economy and we were set up just right for post covid madness, but…

Not what I asked. Furthermore, I’m not one of the ignorant who believes that the Stock Market (all 6,000+ companies) is controlled by a single individual. Also, I’m also aware that the gains in the Stock Market largely go to the top 10%

The wealthiest 10% of Americans own 93% of stocks even with market participation at a record high

The top 10% starts at about $125-130,000. It’s reasonable to think that a large majority of people in that income range have retirement accounts. Most retirement accounts include stocks. I don’t find that stat in the link the least bit surprising or alarming.

That’s not really the primary point of where I’m going with my post. Look at what the libs said about the TCJA which was signed into law by Trump, as nothing but “tax cuts for the rich!” Although when you look at it the TCJA proportionally benefitted the income levels under $200,000. In other words, it’s much more equitable across all income levels. Nonetheless, all the libs here bemoaned the plight of the poor and middleclass and talked about how the rich got richer. Regarding the Stock Market, it is an indisputable fact that a surging Market substantially benefits the rich more than the poor and middleclass. Now, personally I don’t look at the Market going up as a bad thing, just looking to expose the hypocrisy of libs who look at it as some great accomplishment by Harris/Biden. Here’s a question for all the libs (which I’m sure you would agree with), how is a surging Stock Market (by largely just a dozen companies) building the economy from the bottom up and middle out?

PurpnGold · 2024-10-27T20:59:51.507Z

Eagle-Keeper:

Here’s a question for all the libs (which I’m sure you would agree with), how is a surging Stock Market (by largely just a dozen companies) building the economy from the bottom up and middle out?

Not sure why this question is for libs.

Don’t republicans believe in trickle down economics? If so, a surging stock market… makes the rich… richer and then they will bestow their riches on the poor and middle class. Right?

Eagle-Keeper · 2024-10-27T21:19:29.892Z

PurpnGold:

Eagle-Keeper:

Here’s a question for all the libs (which I’m sure you would agree with), how is a surging Stock Market (by largely just a dozen companies) building the economy from the bottom up and middle out?

Not sure why this question is for libs.

Don’t republicans believe in trickle down economics? If so, a surging stock market… makes the rich… richer and then they will bestow their riches on the poor and middle class. Right?

It wasn’t a conservative who started the OP.

WuWei · 2024-10-27T22:34:56.675Z

Elon Musk employs 110,000 people worldwide (2021).

Bezos, Amazon alone, 1.3M (2021).

Gates. Fedex 500k and UPS 600k (2024)

You?

PurpnGold · 2024-10-28T01:15:42.221Z

WuWei:

Elon Musk employs 110,000 people worldwide (2021).

Bezos, Amazon alone, 1.3M (2021).

Gates. Fedex 500k and UPS 600k (2024)

You?

If this post is in defense of trickle down… then I am not surprised you agree. But then why did you say this?

WuWei:

How about the concerns of the peons?

Talking out of both sides of your mouth again?

WuWei · 2024-10-28T01:52:46.556Z

Go take a sarcasm class at the community college.

biggestal99 · 2024-10-28T10:42:42.039Z

lol @Gaius. 10% of my investments is in VANGUARD ESG U.S. STOCK ETF, up a mere 44% year over year.

princeton people might be smart, better to leave the investments to the pros.

Allan

Gaius · 2024-10-28T12:24:25.051Z

Traditonally universities have been among the most conservative of investors, investing almost exclusively in high-quality bonds and holding them to maturity.

Some time in the 1980s or1990s they got tired of losing out. The law of large numbers says that they take very little risk in a well diversified protfolio of stocks . . . if the stocks are in high-quality companies.

More recently they are part of a bigger problem.
30% private equity. There are a lot of shady characters and a lot of hair-brained ideas there. It can be a real minefield. Which is why it is private and not “open to the public.”

Heck, a lot of companies that go public now should not be allowed to go public.

PurpnGold · 2024-10-28T16:56:31.950Z

WuWei:

Go take a sarcasm class at the community college.

You first. that wasn’t sarcasm. You just got caught in your typical pretzel logic.

WuWei · 2024-10-28T23:36:53.048Z

While you’re there, see if they’ll let you teach a mind reading class.

Gaius · 2024-11-06T16:53:41.905Z

Hmm,
The market has done well since Trumos first election.

I wonder what it will do next.

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