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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Tenchusatsu who wrote (1402057)	5/10/2023 1:02:21 AM
From: Rarebird	Read Replies (1) \| Respond to of 1578195

The stock market fell almost 20% last year. Over 90% of stock market trading is controlled by the top 10% of the population, financially speaking. Labor primarily has no interest in the stock market and has very little, if anything invested therein. Prior to last year, oil ( and oil stocks) had been the worst investment class for the past decade. Now it is very popular and it has grossly underperformed SPX this year. Do you really think labor got hurt worse than the wealthy last year? Average hourly earnings were up over 5% last year and is currently up over 4% this year. Has that kept up with inflation? Obviously not! But the differential between the inflation rate and the average hourly earnings rate was much smaller for the worker than what the wealthy lost last year? The rich hold a diversified a portfolio and don't put all their eggs in one basket, such as oil. 58% of the population lives from paycheck to paycheck. Do you really think they are putting their money in the stock market? They lost 3% on the differential between the inflation rate and the average hourly earnings rate, plus, many saved the expense of commuting to work. The rich had a big down year in stocks. Why do you think service spending is strong while the manufacturing sector is weak?