90% of the stock market is held by the top 1%. Yes, these buybacks help some of the middle class however, while 99% of people have to split a $10 bill, 1% of the people split $90. The system is fucked and resoundingly benefits the rich.
And those stocks are not just owned by the rich. They're also owned by thousands of people who use investments to try to get ahead in this shit economy.
To add to this:
In the third quarter, the bottom 50% of households held $4.8 trillion of real estate assets, but just $0.3 trillion worth in stocks, Fed data shows
The top 10% had 93% of stocks owned.
The top 1%, by comparison, held over $16 trillion in stocks, and just over $6 trillion in real estate assets.
In the third quarter, the bottom 50% of households held $4.8 trillion of real estate assets, but just $0.3 trillion worth in stocks, Fed data shows
The top 10% had 93% of stocks owned.
The top 1%, by comparison, held over $16 trillion in stocks, and just over $6 trillion in real estate assets.
Not disagreeing with the sentiment, but it would be extremely helpful if the terms were the same or atleast similar. How much RE did the top 10% have? How much is 93% of stocks in $ figures?
Not disagreeing with the sentiment, but it would be extremely helpful if the terms were the same or atleast similar. How much RE did the top 10% have? How much is 93% of stocks in $ figures?
They conveniently left it out to make what you are asking more difficult. They only compared the top 1% to the bottom 50% and then included the 10% had 93% figure. The same figures were posted in numerous sources and none of them share that information directly. Here is the first one I looked at and then a link to the federal reserve figures.
26
u/Kicksavebeauty 5d ago
To add to this:
In the third quarter, the bottom 50% of households held $4.8 trillion of real estate assets, but just $0.3 trillion worth in stocks, Fed data shows
The top 10% had 93% of stocks owned.
The top 1%, by comparison, held over $16 trillion in stocks, and just over $6 trillion in real estate assets.