Only ~61% of Americans have any stock holdings and most of those are pretty minor and/or locked up long term in retirement vehicles like a 401k. For practical p

Only ~61% of Americans have any stock holdings and most of those are pretty minor and/or locked up long term in retirement vehicles like a 401k. For practical purposes that money doesn't exist for people which is why a well performing stock market is a crappy indicator for how people will actually feel about the economy. My 401k is up 30% YoY but I can't feel that because the money is locked up for another 30-35 years and I can't access it via the stock market because of my job. A much better view IMO would be median real wage growth vs inflation because that's how people mostly interact with the economy, simple day to day purchases of food, shelter, and fuel/power.