I guess the market couldn’t hold and is now reversing lower.
There is also the reality of a shrinking middle class: a small portion rises to upper class, and a big portion drops to lower class. The existing system hasn’t done enough to preserve the middle class. If this trend continues, once the poor reaches critical mass in number during elections, there will be more extreme policies. This trend might be caused by technology advancement and transition into a digital economy, not the fault of politicians. However, as elected officials, they need to do something.
Statistically, more are moving up than down. Granted, you’d never guess that based on media coverage and narrative.
The biggest driver of poverty is single parenthood. Out-of-wedlock births have skyrocketed since the 1970’s. Single parents are 6x more likely to live in poverty than married parents. Not surprisingly US schools performance has been declining ever since. The real movement should be on preventing out-of-wedlock births.
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Most jobs are in tech + service industry. Jobs are polarized into two extremes, highly skilled (high IQ and/or high EQ) and low skill/ manual labor. If you can’t get a highly skilled job and refuse to do manual labor, you would be unemployed.
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I agree. I hate that the media talks in points and not percentage terms.
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Expect Mini Mike to run as a third party candidate.
Populism is doing things popular with masses. Elitism is opposite of populism where the interests of elites are taken care of at the cost of interest of masses. Both are democratic in my opinion.
Another word to this mix is corporatism (= special interest corporate bodies, like unions, or a group of people fighting climate change ). Not to be confused with corporation to run a business.
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Concentration of productive power on hands of those who own the machine, or IP, or algorithm, or patent etc. has allowed a few to make insane amount of money while the value of manual labor declines with each passing day. Unfortunately, there is nothing that can be done to reverse this trend. I am not advocating abolishment of Property Rights.
Also, add to that control over fractional banking, money supply, interest rates etc. that has killed the CASH as a store of value making those who make less loose even more in risky stock market.
The top 10% own 84% of stocks, so poor people aren’t buying stocks. Poor people also aren’t saving money. 58% of people have less than $1,000 saved. Whether or not cash is a store of value is irrelevant to them. They don’t have cash saved. They also aren’t buying “risky” investments like stocks.
It seems all you’re doing is complaining about your own poor financial decisions. You’re probably someone who sold everything in the Great Recession and either didn’t buy again or waited way too long to buy. All you had to do was nothing and wait for the recovery.
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Most people do not have time to sit in front of terminals 8 hours a day to follow stock market nor do they have enough money to hire a personal wealth manager. The governments ability to control money is the single biggest factor that has contributed to the poor state of people in lower strata of society. The money they save can vanish anytime. These are the people who only know how to save. And you expect them to be stock market wizard? You sound so out of touch. The central bankers have been created to protect interest of bankers and politicians. We have discussed this several times.
Most of the people who do manual work are probably not enough educated to understand complex concepts of finance and economics. Besides they do not have amount of money to justify being glued to stock market all the time. The only thing they know is how to save a little from whatever little they earn.
Just stop. You keep talking about the money poor people save. They don’t save. There’s literally zero statistical evidence of them saving. They aren’t sitting around with hundreds of thousands or millions in savings accounts losing value due to inflation. They are sitting around with less than $1,000 in savings, so it’s not making a difference to them.
Buying SPY every month and holding it takes zero skill, no terminal, no wealth manager, or any of that. The one thing it does take is discipline. Even someone earning a median income will become a multi millionaire by investing 10% of their income each month. It doesn’t get much simpler in terms of following a process. If that is your bar for stock market wizard, then that’s an incredibly low bar.
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Keep it simple. Buy and hold a broad based index fund like the s&p 500. Done.
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How do you save when you are poor, aka no money?
Poor people spend a lot of emotional and intellectual brain cycles to deal with poverty. Everything is highly uncertain: when you go to work, whether you car breaks down, who will take care of the kids, on and on.
There are lots of research done on poverty, including last year’s Nobel prize on economics. It’s not simplistic like “poor people don’t save”.
Pick your worry. Every time the world was about to end. We are already past the average decline percentage.
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First thing first, are you qualified to talk about poor people? Are you poor previously?
You seem to talk a lot about women. Are you a woman? 
Or previously a woman? 
No good counter means you’re not poor previously!
Dow only retracted to the level from 4 months ago. Weak.
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