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Old 09-05-2020, 01:48 PM   #1219
Legacy
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Two developments:

Worries grow over a K-shaped economic recovery that favors the wealthy (cnbc)

Quote:
KEY POINTS
- As the economy struggles to shake off the pandemic effects, worries are growing that the recovery could look like a K.
- That would be one where growth continues but is uneven, split between sectors and income groups.
- One obvious area of concern is the dichotomy of the stock market vs the real economy, especially considering that 52% of the market is owned by the top 1% of earners.
- “Let’s not get lost on different letters of the alphabet,” Treasury Secretary Steven Mnuchin said. “There are certainly parts of the economy that need more work.”


Additonally, the CARES Act temporarily increases how much someone can borrow from a retirement account, often in the stock market, and waives the penalty for an early withdrawal.

The second one is that MNCs are increasing the amounts repatriated which they have been plowing into dividends for shareholders, helping to fuel stock market growth for those invested in stocks.

About half of Americans have an investment in the stock market, including retirement plans,

Last edited by Legacy; 09-05-2020 at 01:53 PM..
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Old 09-15-2020, 02:54 PM   #1220
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Old 09-15-2020, 03:20 PM   #1221
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IMO that was the whole point of American capitalism since Reagan. There has been a re-distribution of wealth. The redistribution has been a consolidation of real capital wealth by the elites. While we commoners deal with debt and a unstable 401k market for future security, the elites take that fiat money and make it real with purchases and real accumulation of wealth.

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Old 09-15-2020, 03:23 PM   #1222
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IMO that was the whole point of American capitalism since Reagan. There has been a re-distribution of wealth. The redistribution has been a consolidation of real capital wealth by the elites. While we commoners deal with debt and a unstable 401k market for future security, the elites take that fiat money and make it real with purchases and real accumulation of wealth.
And neither mainstream party has any intention of changing this.
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Old 09-15-2020, 03:24 PM   #1223
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And neither mainstream party has any intention of changing this.
Exactly right.
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Old 09-17-2020, 05:00 PM   #1224
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Old 09-17-2020, 08:37 PM   #1225
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Quote:
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The line graphs in the first chart are misleading...I think? Based on the second graph, I would expect the curves to be flattening. They definitely shouldn’t be straight lines at the very least. The second chart seems to suggest that most damage was done in the 80s/90s?

Wage growth has been impressive for lower class in the 2010s. Seems like this is a cost issue and not a revenue one - with cost of healthcare and education as the likely culprits.
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