Quote:
Originally Posted by Pete F.
According to the Commies at Goldman Sachs, stock ownership is extremely concentrated because of the growing wealth gap in the U.S., and thus the market’s performance affects households making up the wealthiest 1% of Americans much more significantly than the other 99%.
“The wealthiest 0.1% and 1% of households now own about 17% and 50% of total household equities respectively, up significantly from 13% and 39% in the late 80s,” Daan Struyven, Goldman Sachs’s
chief economist said.
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we’re all better off when the market rises pete. no one is inherently better off if the market crashes.
sorry, comrade, you’re not holding any cards here.
as to the gap in wealth, as i’ve said
it might not be fair, but it’s not bad either. not unless you’re dumb enough to believe that one persons wealth causes someone else’s poverty. no one would be better off if wealthy people stopped creating more wealth for themselves. Bill Gates’ net worth has absolutely nothing to do with my ability to seek financial security. Zip.
Is that all you have? Orange Man Bad, wealth inequality somehow “causes” poverty, any other liberal
bumper sticker slogans you got?
Earth to Pete...if oprah winfrey earns another million today, that does NOT mean there’s a million left for us to scrounge for. It doesn’t work that way, wealth is not finite like a pizza. Plus, she’ll pay some taxes on that million, she’ll spend some, she’ll
invest some, shell
give some to charity, ALL of which help the economy and lessen the burden on regular folk.
Take off the tin foil hat, wipe the crazed foam off your
mouth, stop
howling at the moon, and think.
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