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Less impressive but more accurate headline: The US stock market continues to go up, some people own more stock than others.
by jppope 11mo ago
Less impressive but more accurate headline: The US stock market continues to go up, some people own more stock than others.
- MentatOnMelange 11mo agoPeople are able to take out loans using their stock as collateral. Why sell when you can borrow against them for tax-free hard cash?
- toomuchtodo 11mo ago> some people own more stock than others. The wealthiest 10% of Americans own 93% of stocks even with market participation at a record high - https://finance.yahoo.com/news/wealthiest-10-americans-own-93-033623827.html https://finance.yahoo.com/news/wealthiest-10-americans-own-9... - January 10th, 2024 > The richest Americans own the vast majority of the US stock market, according to Fed data. The top 10% of Americans held 93% of all stocks, the highest level ever recorded. Meanwhile, the bottom 50% of Americans held just 1% of all stocks in the third quarter of 2023. Income and Wealth Inequality in America, 1949–2016 - https://www.journals.uchicago.edu/doi/abs/10.1086/708815 https://www.journals.uchicago.edu/doi/abs/10.1086/708815 | https://doi.org/10.1086/708815 https://doi.org/10.1086/708815 - July 29th, 2020 > In any event, stock market booms have traditionally produced the largest rewards for those who are already wealthy. That's because the wealthiest US households have most of their assets tied up in equities, while most middle-class families have their assets tied up in housing, researchers said in a 2020 study.