How Washington's embrace of the stock market is fueling an unequal recovery

  • 📰 politico
  • ⏱ Reading Time:
  • 36 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 59%

United States News News

United States United States Latest News,United States United States Headlines

President Donald Trump regularly promotes the soaring stock market as a barometer of the economy's health, tweeting again on Monday that it's a key reason he should be reelected. But investors aren’t sharing the wealth.

President Donald Trump regularly promotes the soaring stock market as a barometer of the economy's health, tweeting again on Monday that it's a key reason he should be reelected. But investors aren’t sharing the wealth.

The growing wealth disparity may explain Trump's struggle to win working class voters in crucial battleground states such as Pennsylvania and Michigan who helped push him over the top in the 2016 presidential race. “That is how the Democrats think: You make $1,000, but you’re not happy because Bill Gates, who saved more money than you, has gone up by $1 million,” said Grover Norquist, president of Americans for Tax Reform. “Nobody thinks like that.”

“When the stock market goes up, that exacerbates wealth inequality for Blacks and for Hispanics, because they don’t own stocks,” said William Spriggs, a professor of economics at Howard University and the AFL-CIO’s chief economist.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I know so many older folks, many without children or grandchildren, who are voting for the Republicans simply because of the 401K performance. When asked what about the future they don't care. I work on charities with many of these people and respected them. They know better.

Investors are the American people. The ones that have 401ks, mutual funds, retirement accounts.

veramagalhaes Trump reeleito!

The last sentence in the tweet says it all. The word 'but' usually negates whatever proceeds it. So investors aren't sharing the wealth. WorshipThatGoldenCalf GreedOverPeople Deal STEAL EXPLOIT RepeatTheLieOfTrickleDownEconomics

Voters need to ask themselves; how does the stock market effect my life? A few dollars added to your 401k doesn't matter in the day to day. Unless you are one of the very few who own enough stock to live on dividends, it's irrelevant. The cost of living is what matters.

Which investors The ones who are doing well because of the market or the ones who have no idea what they’re doing? BIGGGG DIFFERENCE.

What business school did you go to? In Oder to create jobs for Americans, the corporations need to make money. Why do you think the unemployment has drop again so quickly! Let’s stay on the right track and Vote for DonaldTrump SaveAmerica

Anyone who puts money into the market is an investor no matter how big or how small. Same as blackjack the more risked the more won or lost.

It's a 1-dimensional view. Economic health consists of more elements. Trump Trumpdumb

Biggest transfer of wealth came during the Obama admin, wipe out of the middle class and a gain for the Marxists. Under Trump, we saw REAL wage gains, faster for the workers than the exec suite, for the first time in decades. Makes one wonder what is the goal of Politico.

Im sorry. R u saying that people who invest THEIR Money in the stock market have to share their profits with people like you who r afraid to invest their own money for fear of losing it?

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 381. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Toyota to develop fuel-cell electric truck for North America marketJapan's Toyota Motor Corp said on Monday it would develop a heavy-duty fuel-cell electric truck with its subsidiary, Hino Motor Co, for the North American market.
Source: Reuters - 🏆 2. / 97 Read more »

Stock market live updates: Dow up 250, Trump's improving health, Regeneron up 6%Stock market live updates: Dow up 250, Trump’s improving health, Regeneron up 6% Stop showing the back seat. Start cropping to show the fully garbed driver and passenger/s who shouldn't have been fishtanked with COVID-45. They have families, too. Disgusting abuse of power. Really? I doubt the stock market moved because of the idiot. Could be his last ride...
Source: CNBC - 🏆 12. / 72 Read more »

The stock market appears to be coiling for a tension releaseThe markets are coiling and compressing as they process jarring events, with potential energy building up for eventual release. Sounds like CNBC is describing an orgasm. Yeah sure. You mean up right? Tesla to 1000?
Source: CNBC - 🏆 12. / 72 Read more »

5 things to know before the stock market opens MondayDow futures pointed to strong gains at Monday's open as Wall Street considers what President Trump's Covid-19 diagnosis means 29 days before the election. VOTE! VOTE! VOTE! VOTE! VOTE! TY for reporting on FINANCIALS , was refreshing
Source: CNBC - 🏆 12. / 72 Read more »

China’s Economic Recovery Helps Drive Its Stocks HigherChinese stocks have fared better than their U.S. counterparts for much of this year, and more gains are likely as the country’s economic rebound gathers steam. No wonder they want Trump to win. chinese stock.. lol The police is killing people unnecessarily in Nigeria!!! 😩
Source: WSJ - 🏆 98. / 63 Read more »