11/06/2021
Today, the top 10% of wealthiest Americans own 89% of the total value of all stocks in the market. When you hear them talk about how great the stock market is doing, it really is just a representation of how well the top 10% are doing.
We need new metrics that take into account life expectancy, infant mortality rates, suicides, who has access to clean water, the conditions of our environment, amongst other things to actually have an idea of how we are doing as a nation.
Just like the individual, America as a whole is coming to terms with its own toxic behaviors. MF, they ain’t pretty but there are solutions to these issues. We can ignore them or acknowledge them and work towards the solutions that will benefit us all.
“Yet Americans’ attitudes about the economy seem to be quite negative. The Gallup Economic Confidence Index was almost as low in October as it was amid the pandemic lockdowns of April 2020, and the University of Michigan Consumer Sentiment Index is even lower. An October poll by the The Associated Press-NORC Center for Public Affairs Research found that 65% of respondents thought the U.S. economy was “poor.” Exit polls in Virginia last week rated the economy as the top issue of concern.”
https://www.bloomberg.com/opinion/articles/2021-11-05/u-s-economic-boom-isn-t-making-americans-happy?cmpid=socialflow-facebook-view&utm_medium=social&utm_content=view&utm_source=facebook&utm_campaign=socialflow-organic&fbclid=IwAR18LiZsu26EbAEz3kcV9oBhmTpWumtZ1l9M4XAkBa3maTSt_UTd5FKemI4
There’s a big gap right now between consumer sentiment and statistical indicators. It should narrow, but may not go away.
