How Bubble Finance Rolls: In The Past 30 Years, The “Top 1%” Has Bought $1.2 Trillion In Stocks; The “Bottom 99%” Has Sold $1 Trillion

Specifically, since 1990, the top 1% has bought $1.2 trillion of equities and mutual funds compared with $1 trillion of net selling by the remaining 99%. And, confirming what we discussed in “The Rich Have Assets, The Poor Have Debt“, based on the Federal Reserve’s Distributional Financial Accounts (DFAs), the concentration of household equity ownership […]
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