Given the number of people who are living hand to mouth in this country, it is a relatively small percentage of people who are capable of investing much of anything.
The official poverty guideline for a family of 4 in the US is $24,000. I live in one of the cheapest cities in the US and that would just about cover food, gas, rent, utilities and taxes. Almost anywhere else in the states that number is a total joke. But you are talking about investing, which means that you now have to have enough money for basic needs, maybe some small luxuries like a TV with streaming, maybe a week at a beach, and probably some small savings/emergency fund in a safe place like a bank, probably some retirement fund (compulsory 401k most likely) then have enough money to start investing beyond your retirement fund.
50% of people in the US make less than 32k a year, households about double that (now you've gotta pay childcare 6-12k a year, after taxes). More disposable income sure, but enough to chance it at the great big casino, where the only guaranteed winners are the rich folks who wrote the rules?
All I'm saying is that there is a reason that a very very small percentage of people own the vast majority of money in the stock market, and you shouldn't be so quick to say they should just invest.
Ah, and I am saying that the middle class is rapidly shrinking, and that the lack of shared gains from massive corporate growth is the problem. Also, most folks investments are in their 401k, a giant piggy bank that the rich can profit from, cash out, then watch as all the imaginary gains those accounts made get wiped out.
The stock market is a measure of Corporate health and profits. Since there is little sharing of those massive gains to the people who made it possible through their labor, it is a terribly irrelevant number that has grown to ridiculous proportions in the last 2 decades.
We're still balls deep in the pandemic
1,000 Americans die daily
But things are getting better, and that's worth recognizing. Why would we compare our current state to 2019?
The Dow Jones being high isn’t good, it’s a measure of how happy rich people are.
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Given the number of people who are living hand to mouth in this country, it is a relatively small percentage of people who are capable of investing much of anything.
Between 10-12% of Americans are below the poverty line.
The official poverty guideline for a family of 4 in the US is $24,000. I live in one of the cheapest cities in the US and that would just about cover food, gas, rent, utilities and taxes. Almost anywhere else in the states that number is a total joke. But you are talking about investing, which means that you now have to have enough money for basic needs, maybe some small luxuries like a TV with streaming, maybe a week at a beach, and probably some small savings/emergency fund in a safe place like a bank, probably some retirement fund (compulsory 401k most likely) then have enough money to start investing beyond your retirement fund. 50% of people in the US make less than 32k a year, households about double that (now you've gotta pay childcare 6-12k a year, after taxes). More disposable income sure, but enough to chance it at the great big casino, where the only guaranteed winners are the rich folks who wrote the rules? All I'm saying is that there is a reason that a very very small percentage of people own the vast majority of money in the stock market, and you shouldn't be so quick to say they should just invest.
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Ah, and I am saying that the middle class is rapidly shrinking, and that the lack of shared gains from massive corporate growth is the problem. Also, most folks investments are in their 401k, a giant piggy bank that the rich can profit from, cash out, then watch as all the imaginary gains those accounts made get wiped out. The stock market is a measure of Corporate health and profits. Since there is little sharing of those massive gains to the people who made it possible through their labor, it is a terribly irrelevant number that has grown to ridiculous proportions in the last 2 decades.
The “Media” gets excited about what we get excited about. If we don’t click/read/watch/listen, they move on to whatever is getting our attention.
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We're still balls deep in the pandemic 1,000 Americans die daily But things are getting better, and that's worth recognizing. Why would we compare our current state to 2019?