Key Points
- The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter.
- All of the gains came from stock holdings thanks to an end-of-year rally.
- Economists say the rising stock market is giving an added boost to consumer spending through what is known as the “wealth effect.”
The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve.
The total net worth of the top 1%, defined by the Fed as those with wealth over $11 million, increased by $2 trillion in the fourth quarter. All of the gains came from their stock holdings. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter.
While their real estate values went up slightly, the value of their privately held businesses declined, essentially canceling out all other gains outside of stocks.
You must log in or register to comment.
We have to take back that wealth. Right this is the reason why we have not the lifes we deserve. That are the funds that were siphoned off from our society. The people created this worth. Not some guys at the top.
Inflation is how you get fucked. Get off the train, buy deflationary assets
Correct. This is the stolen education of our future generations. This is the stolen lunch’s of our children. When does America wake up? I guess it takes physically seeing it happen. We are gonna be so down trodden before someone steps up it seems.
No, don’t you see the real issues are trans people and some other random social problem Fox News tells conservatives to get in an uproar about.
Why we can’t have nice things.
That’s great! Congratulations to all those wealthy individuals! They prove that hard work does pay off.
May be unpopular but congrats to all 7 of them
How does that boot taste
Your comment made me think. Realistically, the top 1% represents tens of millions of people, but I would very much like to know if the top 1% has gotten bigger or smaller with wealth being more and more concentrated to the top.
Eat the rich
Thanks Reagan, still waiting for it to trickle down you fucking liar.
If I ever get a time machine, I’ve got a baby to go delete real quick.
The 1% would have hired some other actor…
Milton Freidman is the one who convinced that POS it would work
This POS also taught Milton.
Think we should end all Economists
Nuke Chicago?
No they have really good food and also real people live there too.
Disproportionately well armed real people, which sounds like a solution to me.
So just a tactical one on the campus?
When do we start taking heads?
Ionno. Anybody near Los angeles wanna learn carpentry together?
Be the change you want to see in the world
But it won’t accomplish much, we have terrorism (or freedom fighters depending on your side) as is and the ruling class isn’t swayed
“Terrorism” is a nonsense word. State terror forces who exist to brutalize and terrorize populations into stillness so much like the fucking grave are never terrorists. If I post myself consentually making out with another adult I find hot, I’d be one in like fifteen time zones.
Its nonsense, and if we want to go to the ‘real’ definition of terrorism; using violence to scare people into your agenda; that’s literally all a state is.
Not raking an intentional editorial position on any kind of violence here; just that innocence is no protection, and truth is no defense.
Terrorism is the use of force to achieve a political objective by a group of people not internationally recognized as a state
So Los Angeles is a state? Chicago is a state?
City states exist
But those are more commonly recognized as part of the larger USA state
But the KKK isn’t. Because…???
And why are ‘states’ special exclusions where we use a different word?
I already answered that the first time you said it
Because when the states came up with the rules they decided to give them exclusions
For states the general equivalent is war crime and the resolution is that the common person that belongs to the group isn’t punished as much as the leaders or people who commit those actions
Uh, yeah, those are state entities. They have governments.
But the KKK isnt, because…???
It’s not recognized as such
Because it was a private organization, not a government organization. Its violent actions could be considered state-funded terrorism, but not state violence itself.
Capitalism is working as intended, support ticket closed.
44 trillion would end world… problems.
Let’s END… the… problem.
🍽️ the 🤑
Nice! Good job all. It sucks that our wealth is being harvested by a few psychos but dam we are working our asses off and generating vasts amounts of it. For someone else but still damn, super impressed.
Meh, it’s not all.
It’s mostly by not working as a collective and getting rid of more jobs and having a select few work overworked even more efficiently using hyper advanced tools to do so that steal work from previous humans.You can usually spot them cause they brag about how much more efficient they are now that they microdose on Meth-Lite™ every day.
Also I know people will argue it helps, of course it helps, it’s taking a daily stimulant the same way cocaine helped in the 80s. Doesn’t make it less true.
I have literally never met anyone that has bragged about microdosing on meth. Meth isn’t even legal here (although that doesn’t make it uncommon)
Adderall.
How tf do you mix up Adderall and meth? And Adderall is used to treat ADHD, for neurotypical people a clinical amount literally just has nearly the same effects as caffeine or some antidepressants.
Uhh I don’t mix them up. But Adderall
and Ritalin(whoops not Ritalin) are literally amphetamines. I literally know people who when they run out take “street Adderall” granted they are certainly abusing Adderall because it makes them feel better.But just cause it’s a prescription and used to treat ADHD doesn’t make it not an amphetamine. It’s a stimulant. It’s stronger than caffeine (which people are addicted enough too at the moment that lethal doses have been found in Panera lemonade) and being taken like people took cocaine in the 80s to stimulate and assist in keeping up.
Useful or not, taking Adderall is taking Meth’s sibling and praising how effective it is at being a chemical stimulant.
Edit: did you know if you have an Adderall addiction you get treated at the same places that handle meth addictions? Fun little fact.
Uhh I don’t mix them up. But Adderall and Ritalin are literally amphetamines.
Buddy that means you are mixing them up because “amphetamine” (alpha-methylphenethylamine) and “methamphetamine” (N-dimethylamphetamine) are completely different classes of chemicals and affect the brain in different ways. Their names look similar because they’re both substituted amphetamines, which is a generalized type of drugs that literally includes ephedrine, Wellbutrin, MDMA, Parnate, Ionamin, methoxyphenamine, etc., a LOT of drugs that have extremely different effects and are used for extremely different things. You clearly are uneducated on chemistry if you think those are “basically meth”.
But just cause it’s a prescription and used to treat ADHD doesn’t make it not an amphetamine.
Yeah that’s LITERALLY THE GENERIC NAME OF THE MEDICINE. One which has a different chemical structure than meth.
It’s a stimulant.
So are multiple very common chemicals, some that we even eat and drink on a regular basis.
It’s stronger than caffeine
This is a meaningless statement.
caffeine (which people are addicted enough too at the moment
Wtf does this even mean? How do you rationalize “2 people with heart problems died from drinking caffeinated lemonade” as “we have a caffeine drug abuse problem on our hands”? That is a very naïve take on epidemiology.
that lethal doses have been found in Panera lemonade)
The lethal dosage of caffeine for the average person is around 10,000 mg (about 26 of those full lemonades at once). Those people died because they had heart problems and had no idea the lemonade had as much caffeine as an energy drink, they didn’t die from “addiction” you imbecile lol.
and being taken like people took cocaine in the 80s to stimulate and assist in keeping up.
Sorry but this is delusional. Also I don’t know if you can tell, but cocaine/crack abuse is still everywhere, it’s not like it just went away. Do you get all of your drug information from movies?
Useful or not, taking Adderall is taking Meth’s sibling
That is one of the dumbest chemistry takes I’ve ever heard. “These two drugs have a similar shortened generic names so they’re basically the same”.
and praising how effective it is at being a chemical stimulant.
What does this even mean?
It’s pretty tiring hearing people peddle bullshit like “X stimulant drug is basically meth”, clearly having not even a basic understanding of pharmacology. Meth and Adderall have extremely differing intended effects and side effects (in particular, meth has VERY bad side-effects and is far more addictive compared to amphetamines), they literally are just both stimulants (as opposed to depressants, hallucinogens, anxiolytics, antidepressants, or antipsychotics) which is a very wide classification of drug.
I don’t know how you turned “everyone microdoses meth these days” into “Adderall is meth” into “we have a fatal caffeine addiction problem” but here we are.
That’s a very emotional response, (which I expect, people have a lot of feelings about chemical stimulants)
So firstly, amphetamines are stimulants. All of them. Yes they do slightly different things but it’s like saying a red pen is vastly different from a blue pen. Both are still pens, these all stimulate chemical signals and have a high addiction threshold. Funny that you would list MDMA, and Wellbutrin (poor man’s cocaine) as alternatives trying to prove they aren’t still amphetamines.
And I mean that people are so craving caffeine, that we are adding amounts equal to that of strong energy drinks to standard soft drinks. The addiction is selling a 24oz lemonade that has the same caffeine per volume as the 2oz 5 hour energy. An amount that chemical dependent people find not a problem but that can kill people with heart problems (twice). They aren’t dying from their addiction but that of the people who don’t get their rush anymore from smaller doses of caffeine.
And yes cocaine use is still prevalent cause people still argue it works to keep them stimulated and helps them get through the day. Like taking other addictive stimulants, say like prescribed amphetamines. I’m just pointing out the parallels of people being addicted to different stimulants and excusing it away as part of the eras current in drug of choice.
It’s not a similar name that is important it’s the chemical action they have that speeds up chemical signal passing like adrenaline that these amphetamines do. And you are specifically ignoring it so that you can claim it’s bullshit on arguments you are making.
You are having an emotional response that you don’t want to be wrong about and that’s not my concern. In fact it happens every time I point this out and it doesn’t change the reality of it at all.
While useful to some Adderall, Ritalin, Wellbutrin, are all addictive chemical stimulants that we have deemed effective in getting a stimulated active populace that can resist fatigue and discomfort better than those not taking it. While it might be effective it does nothing to resolve or slow down potential environmental factors that make it a dangerous long term fix due to addictive nature of it, that don’t resolve underlying issues.I’ve noticed you completely ignored that people suffering from dextroamphetamine addiction go to meth clinics as Adderall is just amphetamine and dextroamphetamine.
It really doesn’t matter what you think, or what I think, people actively taking small amounts of a highly addictive habit forming stimulant to get through life at an alarmingly increasing rate. And that’s reality. And your emotional response to belittle me does nothing to change that.
Adderall and Ritalin are literally amphetamines.
This is factually incorrect. Ritalin is a brand name for methylphenidate, which is chemically very different from amphetamines. Both are carbon compounds that have a phenyl ring and a nitrogen two carbons away from it but beyond that, they are very distinct. Additionally, they have different mechanisms of action.
Oh color me correct on that.
Literally not an amphetamine, I’m not entirely sure why I thought they were other than just phenyl ring.
Guess speaking out my ass on that one since I know that it was sold in the same circles as Adderall but looking into you are correct and it’s completely different.
Its an amphetamine. People sober from meth cannot have that shit in the house, they’re afraid of it.
It is also all the things you said.
Why do you people keep saying “it’s an amphetamine” like it actually means anything? I don’t want to have to explain again that generic drug names looking similar doesn’t mean they’re even remotely the same. Just like how “sodium chloride” has completely different chemical properties to standalone sodium and chlorine.
People with SUDs can’t be around medications that can be addictive to people with SUDs. What’s your point? This has nothing to do with meth, anyone with a history of drug addictions is heavily scrutinized or just outright denied psychoactive substances, you can be a recovering nicotine addict and many will deny giving you Adderall even if the person has completely debilitating ADD. That’s just the nature of drug abuse disorders.
Ive met multiple people who are clean from street meth who tried ADHD meds once and then were, like ‘okay I can’t have that in my house ever, its too close’.
I think youre attaching a moral dimension to my statement here. I have known (in the past, who were not me) plenty of people who used illegal, or even genuinely dangerous shit to keep their (third person!) mental health some semblance of together.
They deserve all their pederasty and cocaine, after such a hard day harvesting our labor.
It should be trickling down any second now. Meanwhile, the Kellogg’s CEO is telling people to eat cereal for dinner because they are poor.
“Let them eat Corn Flakes” appears to be Kellogg’s CEO Gary Pilnick’s advice to cash-strapped shoppers who are spending the highest portion of their income on food than at any point in the last 30 years.
In an interview with CNBC last week, WK Kellogg CEO Pilnick said the company was advertising cereal for dinner to consumers looking for more affordable options. “Give chicken the night off,” the ad’s cheery tagline reads.
“The cereal category has always been quite affordable, and it tends to be a great destination when consumers are under pressure,” Pilnick said. “If you think about the cost of cereal for a family versus what they might otherwise do, that’s going to be much more affordable.”
That same guy, further known as “Asshat”, made more than $4M in 2023. What a fuckin asshole.
I wonder what his advice would be on other topics.
“Man, I wish I could buy a house so that I have a stable living condition and a roof over my head.”
Asshat: “A cardboard box on the street seems to be trendy way to be thrifty and obtain all you’re asking for! I sell them, give me money!”Next time he complains about something, we should give him similar advice.
Asshat: “Man, I wish I could own a yacht like the other rich guys in my golf club.”
Us: “This rowboat seems to be trendy way to be thrifty and obtain all you’re asking for! I sell them, give me money!”Not to mention that per weight beef is cheaper
And here I am terrified to spend a penny.
Maybe the billionaires will buy each other’s shit and we can all just die already and let them play with resources without us.
I don’t know what I’m trying to say. Going to bed for my back to back 16 hour shifts over the next two days.
Good night fellow poors.
The whole episteme of ownership we operate under would be a brilliant farce if it wasnt floating on an ocean of blood. Disrespect ownership. That doesn’t just mean taking shit (but it absolutely also means taking shit)
“I could hire half the poor to kill the other half.”
And in the end, even those jobs were automated.
https://www.forbes.com/sites/davidhambling/2023/08/07/flying-sniper-drone-takes-aim/?sh=77de157153fd
You know what’s wild…
Very much just a modern version of Samson and some foxes with burning branches tied to their tails.
Oxfam released an analysis saying the top 1% got 63% of all new wealth generated from 2020-2022. According to UN analysis the top 10% own 85% of all the wealth.
According to Oxfam, “an annual wealth tax of up to 5 percent on the world’s multi-millionaires and billionaires could raise $1.7 trillion a year, enough to lift 2 billion people out of poverty, fully fund the shortfalls on existing humanitarian appeals, deliver a 10-year plan to end hunger, support poorer countries being ravaged by climate impacts, and deliver universal healthcare and social protection for everyone living in low- and lower middle-income countries.”
tHe EcOnOmY iS dOiNg GrEaT
No, the stock market is doing great at making the rich richer. The economy is fucking broken. On purpose. The crushing of the working class to enrich the 1% is capitalism working exactly as intended.
And no one will listen to you because America has a stake in the stupidity of its people.
Some much computational energy and human talent is wasted on finance coming up with imaginary and derivative products that do nothing but make rich people richer.
It’s nothing but speculative wealth that doesn’t actually exist, but the federal government prints bonds to underwrite this garbage. Then morons talk about how the feds print money that cause inflation, but are too stupid to realize why.
Thank you! Economy is just who does what work and how we hand out the fruits. Money is just a bullshit abstraction they introduced.
We need to reset ownership. If it doesn’t work for you, burn it down. Its what they do.
Yes, the stock market is doing great and it it possible even for those that don’t have millions to take advantage of that.
Most people don’t have any money to invest at all, much less enough money to safely invest to live on comfortably. Most people live paycheck to paycheck just hoping nothing major comes up like a sudden illness or broken car.
Hence why the government should strive for as open economy as possible, so there is competition in the market and so the wages go up. Or if the government is not capable of doing that, they can move.
What? Open for whom? Competition between who?
You are right, but you are going against the narrative of to this post, hence all the downvotes from the angry mob.
Not really. The stock market doing great is the result of low interest rates, massive tax cuts for the wealthy and corporation, and the recent covid money printing. All of that money, that the wealthy hoard, needed somewhere to go and it went into assets like stocks and housing.
The solution is to tax the corporations and wealthy. Take that money and put it back into society. For example, by fixing our infrastructure, funding our schools, and medicare for everyone. The beauty of being early in this hyperinflation cycle is that we can make actual policy decisions to reverse course before it is too late.
Taxing corporations is of course needed. However, you cannot do it in a brutal way. Oftentimes higher taxes result in higher prices of their products and that will be eventually paid by the people.
I’m sure the wealth will trickle down any moment now. Been waiting about 40 years now. Must be happening soon.
It only trickles down in blood, dear. And only that you shed. Kill your masters, kill for your masters, or die for them. Those are your options.
And don’t worry, “endless growth” means that you need to get up bright and early today to make them even more!
