America's Boom Has Begun

It is not interesting in the least. We Yanks did the same thing to the Brits two centuries ago.

That's the way international competition works ...

 

And just what-the-hell is WRONG with that course? You dying of hunger? Change countries!

The course we are on is one of exaggerated economic-unfairness* in the US. Higher upper-taxation is what is necessary to correct that course.

Biden will do that, but he will never get through Congress a bill that does it effectively. No more rich billionaires because the "trafficked" a financial-system that should be made illegal!

Income Unfairness in any community/entity where people are asked to work together is inherently-unacceptable! How's that? Here's how in the US:


That some people should work for peanuts and then allowed to "get by" with subventions from the government are just "living-animals". They've lost their sense of being "human".

They are fixated on the fact that they work for the minimum wage and spend all their income on food and accommodations, whilst scraping by on government allowances. That's called "subsistence" but not "good living" ...

PS: And what do they do to assuage their "affliction". They drink a lot of expensive alcohol!

 

Yeah, right! America's BOOM in markets.

How many Americans own stocks?

From Forbes (here): Most Americans Don’t Have A Real Stake In The Stock Market

That's no BigDeal in terms of "investment strategy". It is modest by most proportions.

I'll bet, however, that we Yanks put most of our efforts into owning-homes (and trying like hell to keep them) ... !

 

ABOUT COMPARATIVE POVERTY US & EU

This examination would interest me very, very much.

Unfortunately, the only incidence of such a study (that I can find) was done showing data that goes back to 1993/2000 - and that's just not good enough. (Anyway, here it is if interested.)

 

Oops, there is also this one: https://wir2018.wid.world/files/download/wir2018-summary-english.pdf

But it is about stock-market investment, which is not the ONLY category in which investing can be made.

 

How is 55% 'modest' and if 55% own stocks, then how are most Americans not benefitting?

 

Bollocks!

When American-retailers obtain cheaper products because they are made in Mexico, Americans swarm to buy them.

That retailing fact has been omnipresent for the past 10, 15, 20 years. And if you need any final-regard on the subject, consider the fact that Manufacturing in the US now accounts for around 12% of all jobs.

The good-ole days are gone, gone, gone. We've got to get our act-together on post-graduate education that is free, gratis and for nothing. Either that or we are going to have one helluva lotta boobs hanging around getting into a lot of mischief.

Btw, that's already happening - which is why-and-how Donald-Dork took advantage of the yokels ...

 

The great majority of that 55% own only a pittance in stocks. If someone is being systematically robbed of $10K/yr through low wages for the benefit of corporations, and getting $100/yr by owning a few shares in those same corporations, they are net victims by $9900/yr, not net beneficiaries.

See how that works?

 

No, I see how it actually works, not the way you think is works.

Give optimism a shot. Its amazing how it works.

 

No you don't. I described how it actually works, and I will thank you to remember it: working people who own microscopic shareholdings are tricked into thinking that they benefit from massive, systematic, institutionalized injustice that actually robs them of their rightful wages and gives the money to corporations.

It is true that optimists tend to be more successful than pessimists because pessimists tend to be too discouraged to try. But pessimists are more often objectively correct in their understanding of the situation and their chances for success.

 

Average 401K balance of a retirement age person is $216,720, so it is not miniscule.

Sure, I remember back in the 1990s when Meryll Lynch and Fidelity reps would come to the workplaces to paint a wonderful picture of $5 million 401K balance at 60 if you invested 6% of your salary starting at 20. That was BS, but if you actually did invest 6% starting in your 20s and continued to do so, you'd probably have over a million by 60. So....yea,,,its a pretty good deal.

 

But the MEDIAN is less than $70K. That means half the retirees have less than that, and a handful of people have almost all the 401K money.

 

Whose fault is that?

Some people have no self-discipline and they don't save, and they have only themselves to blame.

 

I'm not assigning blame, just identifying the fact that the idea of widely distributed stock ownership is a deception. It doesn't matter that most people own stock if the great majority of those who own some own only a microscopic amount.

 

NASDAQ is taking a beating as investors shift to other sectors which they believe will grown more than Tech.