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How does the top one tenth of one percent own almost everything.

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  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Since I was a kid and questioned what doesn't make sense I knew the answer to this. When a crash starts , really about every few years ( correction ), the people with little or no extra money start selling to save what little they have. When the market bottoms there are fantastic values. If you don't have any money a bargain has no meaning. If you have a lot of money you can take advantage of bargains. So the ultra rich buy up all the bargains. After a passage of multiple crashes ( corrections ) the ultra rich own almost everything. Of course we all know the market always rebounds. That is because the people that have little money start giving it back to the stock market to hit it big again. Remember that after every crash or correction some people lose everything and the ultra rich get more bargains. Eventually they will own everything.
  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Before I retired, I relied on Merrill Lynch advice for a long while until I realized that I lost money following their advice. I fired them and then relied on Paine-Webber/UBS for a while and the results were the same...I lost money. I did an analysis of some 20 years of investing with this "professional advice" and came to the conclusion I would have been far better off if I had just invested in CD money market rates.

    My stocks looked good when the market went up. And they looked bad when the market went down. The market went up and down, but I always seemed to buy and sell on the wrong peaks and troughs....based on buy and sell advice from the brokers. The only people that made money were the brokerage firms with their hefty commissions. In my retirement now I am entirely divested out of the Wall Street swindle factory. And I enjoy life, as I never have to look at the daily stock prices. There are other things in life more important than watching the market every day.

  • Strongly Liberal Democrat
    Democrat
    Pensacola, FL
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    Swindle is the operative word. Stock market always comes back is the biggest enabling swindler. People are so happy to get back to where they were that they could care less where the money they lost went. All the money eventually ends up with Wall Street. People dutifully build balanced portfolios to prepare for the future. All the while fees are eating up their investment. The biggest swindle is the correction. Stocks get overvalued and then trying to save their shirts the race to the bottom begins. Then Wall Street sweeps in and scoops up the efficient stocks at bargain prices. Meanwhile Mr.&Mrs. USA are hopefully plugging more money in to the recovery. Up and over valued, crashed and start again.