Post by the Scribe on Aug 31, 2020 2:12:16 GMT
And once again, record stock markets that we have right now will also collapse. That means your 401(k)s, that means all of the stocks you have.
The stock market has staged a remarkable comeback since falling sharply during the early weeks of the coronavirus pandemic. Since bottoming out in March, both the S&P 500 index and the Nasdaq composite have regained all the ground they lost during the spring. The Dow Jones Industrial Average is also within a few percentage points of its all-time high. Keep in mind, however, that most of the recent gains have been driven by a handful of big technology companies. What’s more, those gains overwhelmingly flow to the wealthiest Americans. According to the Federal Reserve, more than half of all stock is held by the wealthiest 1% of the country, while the bottom 90% of the population owns less than 13%.
www.npr.org/2020/08/19/903982623/despite-investors-preaching-diversity-market-keeps-relying-on-big-tech-stocks
www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:122
Scott Horsley
NPR Chief Economics Correspondent
The stock market has staged a remarkable comeback since falling sharply during the early weeks of the coronavirus pandemic. Since bottoming out in March, both the S&P 500 index and the Nasdaq composite have regained all the ground they lost during the spring. The Dow Jones Industrial Average is also within a few percentage points of its all-time high. Keep in mind, however, that most of the recent gains have been driven by a handful of big technology companies. What’s more, those gains overwhelmingly flow to the wealthiest Americans. According to the Federal Reserve, more than half of all stock is held by the wealthiest 1% of the country, while the bottom 90% of the population owns less than 13%.
www.npr.org/2020/08/19/903982623/despite-investors-preaching-diversity-market-keeps-relying-on-big-tech-stocks
www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/chart/#quarter:122
Scott Horsley
NPR Chief Economics Correspondent