Surely this wealth is this gunna trickle down to the lower classes? Right guys?
Yes, it is trickling down… But not as much as it should
I dont understand why lemmy talks about the stock market like only moustached men wearing top hats and monocles are benefiting…
Regular ass working class people with retirement funds are benefiting as well.
I agree, the stock market disproportionately rewards the rich… But until we come up with a better system, cheering for the collapse of the stock market hurts pretty much everyone
Yes, it is trickling down… But not as much as it should
It may be trickling down, but only to the ever shrinking middle class. Normal working people used to have pensions, then 401ks popularized a nation wide obsession with gambling for retirement.
Employer matched retirement benefits are getting rarer by the day and it’s understandable why so many people don’t care about the stock market doing well. Why would anyone care if the market is making a killing if they have no access to it?
But until we come up with a better system, cheering for the collapse of the stock market hurts pretty much everyone
We’d better come up with a better system fast because regardless of who is or is not cheering for what, no asset market goes up in value forever. Market corrections are a natural part of any market cycle and many people believe the stock markets are generally overvalued at present. Some people would even say that the current market “bubble” is being propped up by people who don’t want a correction to occur because it would mean a decrease in their retirement savings, but all that does is all but guarantee that when the inevitable correction does occur, it will be more severe than it needed to be.
I’m all for dismantling capitalism, but until we come up with a better system, i’m not about to liquidate my accounts just to stick it to the man. Thats cutting your nose off to spite your face
Pensions arent a thing anymore. Retirement savings accounts and lottery tickets are the only two options if you dont want to work until you’re dead…
Regular ass working class people with retirement funds are benefiting as well.
What’s a retirement?
Shit must REALLY suck for you that you have no retirement plan… But its not really helpful for us to attack other working class people with retirement accounts tied to stock market investments
Fighting each other and is exactly what the 0.1℅ wants is to do (forget the 1%… Thats just misguided bullshit meant to further divide us)
I don’t understand why there is a bull market.
Wouldn’t the latest CPI report mean that the FED is less likely to lower interest rates which in turn would mean the high APY cash accounts are going to stay in effect for longer? Meaning a 5% APY on liquid cash without risk.
The only reason I can think of is that Boomers are trying to maximize their retirement funds and not reading anything, not even headlines.
But this wouldn’t take into account the large banks and firms that are really leading the bull run.
Is this really just because of the idea that there is a potential for “AI” to increase productivity?
None of it makes sense to me, but I’m not an economist.
I assume it will make as much difference in my life as usual.
Wasn’t there a book about this in the 1990’s? Or maybe a Wired headline?
31,188.38 the day Uncle Joe was sworn in, so +8,811.62 - 28.25% of what he started with.
By point of comparison:
Trump:
1/20/2017 - 19,827.25
5/15/2020 - 23,685.42
+3,858.17 - 19.46% of starting value.
Obama 1st Term:
1/20/2009 - 7,949.09
5/16/2012 - 12,598.55
+4,649.46 - 58.49% of starting value.
Obama 2nd Term:
1/22/2013 - 13,712.21
5/16/2016 - 17,710.71
+3,998.5 - 29.16% of starting value.
Source:
https://finance.yahoo.com/quote/^DJI/history/?period1=694362600&period2=1715877818
That’s interesting. On average the stock market rises ~8%/yr so only Obama’s 1st term outpaced. Biden just kept up. Trump … well, lol.
And Obama’s first term was a normalization of the market after it went in the absolute shitter under W:
W. Bush 1st term:
1/22/2001 - 10,578.24
5/17/2004 - 9,906.91
-671.33 - (-6.35%) of start.
W. Bush 2nd term:
1/20/2005 - 10,471.47
5/16/2008 - 12,986.80
+2,515.33 - 24.02% of start.
But that gain of 2.5K was as of MAY, by the time Bush was out it was 7,949.09. A drop of 2,522.38 from where he started the term, and 5,037.71 from that May number.
Before Obama could do anything, it bottomed out at 6,547.05 on March 9th, the stimulus package had just become effective less than a month before on 2/17/2009.
So this is kinda neat. Because, well, rule one is the economic policies of the current president lag in actual economic change, up or down. That is assuming that the president has any1 real sway on the economy in the first place. Consensus on how much, if at all, is up to discussion. We could write literal books on it.
So just to be fair, if we take these numbers and give them a 12 month lag, how does it compare? At 8, 16, or 24 months?
Im really not trying to be a troll or upset anyone’s preconceptions. These are genuine questions based on my honest understanding of economics and the effects of government policies. Im curious.
