S&P 500 Crosses 4000 for First Time

wsj.com

13 points·airstrike··10 comments

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1.9T stimulus check going into stocks ?

Article from 2014 about closing above 2000: https://www.wsj.com/articles/s-p-500-closes-above-2000-for-f...

Kind of reminds me of when the NASDAQ broke 5000 in March (13 was it?) of 2000.

Wellfare for the rich.

and people with retirement plans?

50% of americans own stock. You will have to look for some other thing to identify the evil rich.

Are arguing that the majority of those gains didn't go to the wealthy?

Those gains went to people who owned stock.

Public pensions are worth more than twice as much as all the billionaires in the US combined.

401k balances also grew greatly.

The top 10% of income earners own almost 90% of the value of the stock market.

While we can debate the exact number, the US just spent some number of trillions to prop up the stock market. Meaning we spent multiple trillions where almost 90% of the gains went to the top 10% who likely did not need it.

The people who gained the most from propping up the stock market are the top 10% of the country, and it cost the country a lot of future money and tax obligation to give them that benefit.

The bottom 50% owns nothing (paycheck to paycheck lifestyle), the top 1% owns 50% (so they get half of the total sp500 growth while contributing nothing to society) and the middle 49% own the rest 50% (but their wealth would evaporate rapidly should they stop working). I think this is a more accurate picture of wealth distribution.

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