The system is rigged on behalf of the 1%–literally. We have ceased to be the land of opportunity. We live a corporate dictatorship that keeps the rest of us in chains:
The stock market made its way into mainstream news in 2018 when it hit record highs and then subsequently tumbled 19% in a matter of weeks.
Market volatility is unsettling to investors. But just who makes up the investor class?
According to Goldman Sachs, stock ownership is extremely concentrated because of the growing wealth gap in the U.S., and thus the market’s performance affects households making up the wealthiest 1% of Americans much more significantly than the other 99%.
“The wealthiest 0.1% and 1% of households now own about 17% and 50% of total household equities respectively, up significantly from 13% and 39% in the late 80s,” Daan Struyven, Goldman Sachs’s chief economist said in a note earlier this week.