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Lol no we don't. The richest 1% of Americans own 50% of the stocks. The top 10% of Americans own 84% of the stocks.
by hannasanarion 7y ago
Lol no we don't. The richest 1% of Americans own 50% of the stocks. The top 10% of Americans own 84% of the stocks.
- dragonwriter 7y agoArguably, just like nationalization, since control of the government is weighted similarly.
- pinkfoot 7y agoIs it really true that all the pension funds in USA - let alone all the foreigners (rich and poor) - together own only 16% of the shares in USA listed public companies. I call BS.
- hannasanarion 7y agoPension funds represent less than 20% of the stock market, and 90% of households represent only 35% of pension funds, the richest 10% own the remaining 65% of pensions. Since pensions are allocated by earnings, if you're income-rich, you get a bigger pension, and most pension funds are owned by rich people. In addition, much of pension funds go into public bonds and real estate investment trusts, not the stock market anyway. https://www.cnbc.com/2017/09/01/fact-checking-gary-cohns-claims-on-pensions.html https://www.cnbc.com/2017/09/01/fact-checking-gary-cohns-cla... https://www.investopedia.com/articles/credit-loans-mortgages/090116/what-do-pension-funds-typically-invest.asp https://www.investopedia.com/articles/credit-loans-mortgages...
- pinkfoot 7y agoThanks. PS. What am I to make of the throwaway line: ‘Some studies show its a lot more’ [than 20%]
- deleted 7y ago[deleted]