Flagpole wrote:
Repo Man wrote:
So, Flaggy, you're the economic guru on this site. Perhaps, you can settle their argument. Is a high stock market good or bad for most people in the US?
A high stock market isn't BAD for most people, but it isn't GOOD for them either. Many people who are not in the market will still be pleased that it is going up, because they think that is somehow indicative of a strong economy and that they will get theirs somehow...NOPE! You need to be in the market to reap the rewards of the market.
As I have already stated, 53% of Americans (adults with jobs) are NOT in the stock market. And, of those who are, the vast majority don't invest enough so that the HUGE bulk of wealth from the stock market goes to the very top.
If you are not invested in the stock market, then you do not benefit from it when it goes up. ALSO, the stock market has been heading steadily north since March 2009. I made a KILLING while Obama was in office, BUT the economic growth wasn't super great, so SOME people for much of Obama's time in office didn't see great job opportunities. Of course, by the time Obama left office, the market was a record highs (now even higher) and we had full employment...it's just that it took time to get there from the horrible recession handed to Obama by Bush.
Has a rising stock market helped some companies so much that they gave a thousand or two to an employee who wasn't in the stock market? Yes. Well, I got ONE dividend at the end of 2017 that was twice what many people make in a year. Do I need to get even MORE money from increased stock prices? Some upper executives might spend $2000 on lunch once in a while. We should not cheer just because a person with a $32,000 a year salary got a $2,000 bonus. Of course it is nice for them, but it is peanuts in the grand scheme of things. AT&T beneifts by over $20 BILLION dollars with this tax cut...fine, but giving out little token bonuses doesn't really help the little man/woman.
I definitely don't like that situation, but I wouldn't post about it as much as I do if it weren't for such hypocritical Trump supporters..."we voted for him because he is the champion of the forgotten man!" -- BS. He just greatly helped wealthy people and gave them some VERY temporary crumbs.
Somehow you have twisted the ability of every person in the US to earn wealth into something bad because a percentage CHOOSE not to.
Then you claim that we shouldn’t cheer because someone gets $2K because an exec could spend spend $2000 on lunch. That makes no sense whatsoever.
I probably earned last year in salary/bonuses and stock sales what you’ve earned in your lifetime. What is wrong with earning and wisely investing money. I also likely gave 3 times your salary to charity last year in terms of both money and time. You shouldn’t look at success as a negative. Success is what drives this country and enables your employer to offer you the security of a job.