If Rich People Really Cared, The DOW Would Not Be Doing So Well.

P

PoliTalker

Diversity Makes Greatness
I don't get it.

Why is Wall Street humming along just fine?

There are so many people in so much need.

It is well known that the super rich own most of the stock.

I'm talking about people who have multitudes more wealth than they could EVER spend in a lifetime.

Why are they not selling stock to get money to help those in need?

If the holders of so much stock really cared about their fellow citizens we would expect to see stock being sold off like crazy to get cash to help the millions who are in such dire need.

But no. Instead they are looking for opportunities to get rich, seeking bargains, snapping up stocks that look good.

The least they could be doing would be to buy US Government Bonds. (Reassuringly, some are, just not in the massive amounts needed.)

I guess we can see where their loyalties lie.

All of the job gains since the Great Recession have been wiped out, but the stock gains have not.

Morality seems to have it's price.

We are going to have to tax the greedy rich to pay for this.

After WWII the highest income tax rate went over 90%

We are going to have to do that again to pay for Coronavirus, when this is all said and done.
 
PoliTalker said:
Why are they not selling stock to get money to help those in need?

If the holders of so much stock really cared about their fellow citizens we would expect to see stock being sold off like crazy to get cash to help the millions who are in such dire need.
Click to expand...

This would result in less money to help those in need. Selling stock would drive the prices down giving them less cash and hurting the retirement accounts and pensions of working class Americans, especially those already retired.
 
PoliTalker said:
I don't get it.

Why is Wall Street humming along just fine?

There are so many people in so much need.

It is well known that the super rich own most of the stock.

I'm talking about people who have multitudes more wealth than they could EVER spend in a lifetime.

Why are they not selling stock to get money to help those in need?

If the holders of so much stock really cared about their fellow citizens we would expect to see stock being sold off like crazy to get cash to help the millions who are in such dire need.

But no. Instead they are looking for opportunities to get rich, seeking bargains, snapping up stocks that look good.

The least they could be doing would be to buy US Government Bonds. (Reassuringly, some are, just not in the massive amounts needed.)

I guess we can see where their loyalties lie.

All of the job gains since the Great Recession have been wiped out, but the stock gains have not.

Morality seems to have it's price.

We are going to have to tax the greedy rich to pay for this.

After WWII the highest income tax rate went over 90%

We are going to have to do that again to pay for Coronavirus, when this is all said and done.
Click to expand...

Really, you don't get it? Probably your education system only teaching two physical absolutes, death and taxes.
 
Flash said:
This would result in less money to help those in need. Selling stock would drive the prices down giving them less cash and hurting the retirement accounts and pensions of working class Americans, especially those already retired.
Click to expand...

It's an asinine suggestion. For starters, if all rich people sold who would be the buyers? There wouldn't be any and stocks would crater to no value. And as you pointed out you want multi-billion dollar pension funds like Calpers and CalSTers to sell off all their assets?

It defies logic, realty and human nature.
 
Hello Flash,

Flash said:
This would result in less money to help those in need. Selling stock would drive the prices down giving them less cash and hurting the retirement accounts and pensions of working class Americans, especially those already retired.
Click to expand...

Yes, it would have that effect.

So it's better that the super rich keep all their investments, don't cash anything in to help the poor in dire need right now. That way it's better for retirees and people who have a nest egg. What was I thinking, considering the plight of the have-nots? I was disregarding the already haves. How inconsiderate of me.
 
Hello cawacko,

cawacko said:
It's an asinine suggestion. For starters, if all rich people sold who would be the buyers? There wouldn't be any and stocks would crater to no value. And as you pointed out you want multi-billion dollar pension funds like Calpers and CalSTers to sell off all their assets?

It defies logic, realty and human nature.
Click to expand...

Only the very considerate super rich would do this. I am sure there is plenty of greed to go around so there is no way all rich people are doing this.
 
PoliTalker said:
Hello cawacko,



Only the very considerate super rich would do this. I am sure there is plenty of greed to go around so there is no way all rich people are doing this.
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Not trying to be a d*ck but you do understand that for someone to sell there has to be a buyer right?

And if one’s wealth is tied up in the equity markets and there are no buyers and equities drop tremendously in value they actually have little money.
 
Goodbye Serenity,

I make it clear in my Signature PIP that I am into polite posting.

serenity said:
Really, you don't get it? Probably your education system only teaching two physical absolutes, death and taxes.
Click to expand...

That is a violation of common polite posting principles and academic posting.

No, you don't attack me and get me on the hook as your enabler.

Welcome to my Ignore List.

Have a nice life.
 
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PoliTalker said:
Goodbye Serenity,

I make it clear in my Signature PIP that I am into polite posting.



That is a violation of common polite posting principles and academic posting.

No, you don't attack me and get me on the hook as your enabler.

Welcome to my Ignore List.

Have a nice life.
Click to expand...

what attack? Oh you getting defensive because someone wants to discuss physical self evident life. know what real is before working economic theory against kinetic self evident results.
 
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Hello jacksonsprat22,

jacksonsprat22 said:
It is not.
Click to expand...

The job market has lost all gains since the Great Recession.

The stock market has lost some, but nowhere near everything gained since the Great Recession.

It is being widely reported that this crisis is having a greater impact on the poor and disadvantaged.

Comparatively, the stock market is doing fine. Nowhere near the losses sustained by labor.
 
PoliTalker said:
Hello jacksonsprat22,



The job market has lost all gains since the Great Recession.

The stock market has lost some, but nowhere near everything gained since the Great Recession.

It is being widely reported that this crisis is having a greater impact on the poor and disadvantaged.

Comparatively, the stock market is doing fine. Nowhere near the losses sustained by labor.
Click to expand...



Okay. But what is the relation of the stock market to employment>
 
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