The rich now own a record share of stocks
The rich now own a record share of stocks
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Hasn't that always been the case? People with the most wealth always own the most assets.
Aside from when they sell at the top before economic downturns anyhow
By record share they mean that there has not been a time prior to now in which they've owned a percentage as high as they currently do.
The graph in the article makes that pretty easy to understand.
I really wish it went back to 1900 though.
Yeah agreed I would like to see back to the robber baron era and particularly around the run up to the crash in 29 and the aftermath of that. It seems like every time there's a big crash you see a huge movement of capital siphoned up into the upper % in the aftermath.
yeah I feel like roaring twenties are the closest thing to recent times.
Yeah I see a lot of parallels for sure, which is concerning because the 30s and 40s were pretty fucked up.
its been going for awhile though and I sometimes wonder if we have these systems that are really good at keep the house of cards from falling but never really fix anything.