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Oct 18 - The wealthiest 10% of Americans own a record 89% of all U.S. stocks



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 1 month ago '15        #1
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Oct 18 - The wealthiest 10% of Americans own a record 89% of all U.S. stocks
 

 
The wealthiest 10% of Americans now own 89% of all U.S. stocks held by households, a record high that highlights the stock market's role in increasing wealth inequality.

The*top 1% gained more than $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 individually held 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 over 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.

Also, 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 that's different from ownership and wealth," Rosenthal said.
visit this link https://www.cnbc.com/2021 .. s-stocks.html?
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16 comments
 

 1 month ago '04        #2
Chokeabiish 
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This isnt news but it is disgusting.
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 1 month ago '21        #3
FleshAxe  topics gone triple plat - Number 1 spot x3
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Keep the vagrants away
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 1 month ago '11        #4
PotheadFocker  topics gone triple plat - Number 1 spot x2
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+5   

 1 month ago '17        #5
Lazy 
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Thanks for the reminder to log off and get more a*sets
+4   

 1 month ago '18        #6
Capodecina  topics gone triple plat - Number 1 spot x1
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+9   

 1 month ago '16        #7
Proveone  topics gone triple plat - Number 1 spot x4
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+19   

 1 month ago '19        #8
MarathonOG 
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That covid dump last March was the biggest transfer of wealth you'll ever see in this lifetime.

Now everyone is gladly complying with vaccines for the icing on the cake.

Corporations won, again.
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 1 month ago '16        #9
Adrian99OVR 
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 Chokeabiish said
This isnt news but it is disgusting.
And it will never change. The stock market is a key player in the modern day Cantillon Effect. Politicians propped that bi*ch up on some Weekend At Bernie's sh*t last year with no shame.
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 1 month ago '21        #10
freaky culture 
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 Proveone said

This is incredibly profound, and for those who understand, empowering.
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 1 month ago '17        #11
DavidTheMan 
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Whats the problem, are they supposed to not invest ao that they only own 10 percent?

 1 month ago '21        #12
freaky culture 
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Sometimes I wonder if it's better to own 100% of a private company or 30% of a public one.

 1 month ago '07        #13
yola  topics gone triple plat - Number 1 spot x63
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the stock market is like casinos for boring and horrible people

but either way, the individual cannot bring worth or create value out of their skills, and self, they lack fortitude, determination and persistance, so they're addicted to a game of chance for significance because they're absolutely ugly inside and obsessed with an illusion

are you unlikable? no skills? not good at anything? lazy? shallow? impatient? childish? selfish? apathetic about corruption? unimaginative and boring?

buy stocks
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 1 month ago '04        #14
killadre  topics gone triple plat - Number 1 spot x2
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It’s the year of the retail investor though
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 1 month ago '19        #15
GetYaCoinsKing  topics gone triple plat - Number 1 spot x1
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 MarathonOG said
That covid dump last March was the biggest transfer of wealth you'll ever see in this lifetime.

Now everyone is gladly complying with vaccines for the icing on the cake.

Corporations won, again.
Yep, How mfs are so blind to see it idk. Everyone was wishing for a 2008 style crash when we literally had one lol.
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 1 month ago '17        #16
ImIHM 
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 freaky culture said
This is incredibly profound, and for those who understand, empowering.
These pussies won’t use that so all that empowerment goes out the window

 1 month ago '20        #17
Xiox  topics gone triple plat - Number 1 spot x1
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They became billionaires off of corporations paying no taxes , fix the tax codes



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