Secretary Bessent says that 88% of stock is owned by top 10%

[Z99]

That is a staggering percentage! Bessent also said that what we've been doing hasn't helped the poor and middle-class and that he believes that the steps Trump is taking now will help them a lot. Let's hope so!

 

[Dekster]

That is a staggering percentage! Bessent also said that what we've been doing hasn't helped the poor and middle-class and that he believes that the steps Trump is taking now will help them a lot. Let's hope so!

he's more or less correct but it isn't without a hit to our retirement balances and unemployment should start creeping up within the next year. There is no have your cake and eat it too in economics. We have been faking our way through the last 8 years at least. There will be a recession; fragile businesses will fail, etc etc. We will see more of the front side costs before we see the backside benefits. A lot of this stuff takes time and patience. Just to give some perspective, I sold a piece of property that is part of an economic development package in February that was first started 4 years ago and the contracts were finalized 3 years ago. Sometimes it takes awhile for things to come together. The DJIA is not where the rubber meets the road.

 

[John Edgar Slow Horses]

88% of our jobs are not done by the 10%, and we are now entering stagflation purgatory, which will hurt the lower 50% horribly.