The stock market is very importanton April 3, 2020 at 4:50 pm
The Barbershop: Dennis Byrne, Proprietor
The stock market is very important
today at 11:50 am
It’s a little tiring to hear the repeated attacks on President Donald Trump, accusing of paying oh-so-much attention to the stock market. As if everything he does is designed to boost the markets. To boost his own wealth.
He’s not clever enough.
Besides the markets are hugely important–for you and me.
First, it’s where so much of yours and mine pension fund money is invested. By the hour, the day and the week, pension funds are taking hits, big ones. All those people with defined benefit pensions need to be concerned. Especially Chicago and Illinois government employees, whose pension funds are at least $140 billion in the hole. Likely a lot, lot more now.
And those with defined contribution pensions mostly depend on the markets to increase or at least safeguard their investments. Retirees and those who are about to retire are seeing the quality of their life diminished. Or worse.
Second, the average American is an important part of the market. Consider this:
Individuals Own Stocks. It is households that own equities, 37.6% of total equities in the U.S., and equities represent households’ largest financial asset holdings at 38.2%. According to the Federal Reserve, 52% of HHs in the U.S. own stocks (65 million households), which shows the figure is greater than one percent of income earners (estimated at 1.6 million households). Our analysis inside this section shows that the low balance reported by the Federal Reserve – median value of $40 thousand for a household’s stock holdings – demonstrates a much wider universe of Americans own stocks.
In more ways than one, we sink or swim together.
My historical novel: Madness: The War of 1812
Tags:
Coronavirus, COVID-19, stock market.
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Recent Comments
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Thank you, Dennis. This is a great find and a public service. -
A number of writers have shared your concern with the psychological effects of social distancing. Isolation can cause serious…
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What is the haunting music in the background? It creates just the right mood of ominous emptiness. Thanks… -
How’s new york? any update on that. Regards, TalktoSonic
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The press always attacks Trump while they give Cuomo softball questions and don’t challenge him on anything YourTexasBenefits.
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