(08-19-2019 09:49 AM)RiceLad15 Wrote:  

(08-19-2019 08:12 AM)tanqtonic Wrote:  

(08-19-2019 07:52 AM)Fort Bend Owl Wrote:  I continue to like Andrew Yang. Two tweets from him this morning.

"Donald Trump seems to be betting his presidency on continued economic strength and stock market prices. That’s unwise on several levels. If the President could control economic growth we would never have a recession."

"Only half of Americans own stock and the bottom 80% own only 8% of stock market wealth. The stock market in particular is a terrible proxy for American well-being."

He might be correct for *direct* ownership.

But the comment would apparently be overlooking the combined amounts of 401k and retirement programs.

They are astoundingly large.

I don't think that the % of ownership goes up significantly for indirect ownership through 401(ks) or even pensions/other retirement programs.

For example, 1/3 of full time workers have no access to retirement plans and only 44% of part-time workers do. (https://www.pewtrusts.org/en/research-an...-savings).

Do you have any numbers that specifically reference both direct and the in-direct (through retirement plans) ownership?

Just noting that the the whine about the 8% seems to be highly related to institutional ownership. Seemed to be a screed about 'disparity' and 'fairness' that seem to the be progressive bible these days.

And, when one realizes that the vast majority of the institutional investors are investing specifically for the working class pensions, that 8% direct ownership probably translates to probably a majority of the market when including both direct and indirect ownership/benefit.

Just look at the astounding sizes of places like CalPERS, CalSTRS, TRS to name a portion of only two states. That is without including 401s, SEPS, union pensions, and any Federal pension systems that are not union-based. When you look at the sizes of institutional retirement systems en toto, the amount that is owned for the benefit of the bottom 80% rises absolutely dramatically.