Wednesday, January 03, 2007


The Myth of Stock Ownership

While the stock market is trumpeted as a way for all Americans to invest and make money there’s little evidence of that. Less than 50% of American families hold any stock at all—and that’s including mutual funds and 401k pensions. Only 35% of the stock-holders hold stock worth more than $5,000.

80%—roughly—of the stocks are held by the wealthiest 10% of the population. The poorest 40% of the population—that’s forty percent, nearly half!—hold 0.6% of the stocks.

The defenders of wealth, of course, would say these figures are skewed. Chances all they also consider the AP, the Washington Post, Los Angeles Times, and Nancy Pelosi as part of the socialist conspiracy.

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