Buoyant stocks lift US household wealth, mainly for affluent

[Yo_Mama_Been_Loggin]

WASHINGTON — A rising stock market lifted U.S. household wealth to a record $106.9 trillion in the April-June quarter, the culmination of a decade of economic recovery but a gain that is concentrated largely among the most affluent.

The value of Americans’ stock and mutual fund portfolios rose $800 billion, while home values increased $600 billion, the Federal Reserve said Thursday. Total household wealth is now 2.1 percent higher than in the first quarter, when it was $104.7 trillion.

Household net worth reflects the value of assets like homes, bank accounts and stocks minus debts like mortgages and credit cards. The data aren’t adjusted for inflation or population growth.

They also don’t reflect the experiences of most U.S. households. Stock market wealth has been flowing disproportionately — and increasingly — to the most affluent households. The richest one-tenth of Americans own about 84 percent of the value of stocks.

https://www.heraldnet.com/business/buoyant-stocks-lift-us-household-wealth-mainly-for-affluent/?utm_source=DAILY+HERALD&utm_campaign=413845e261-RSS_EMAIL_CAMPAIGN&utm_medium=email&utm_term=0_d81d073bb4-413845e261-228635337

[BigmanPigman]

1. The average CEO in 2018 makes over 300% what his average employee earns.

Stagnant wages, one of the results of no unions, do not benefit from rising stocks since few are shareholders. Trickle down economics never worked but Americans continue to fall for that GOP BS for the past 35+ years.