Rich people are hoarding cash, and wealth managers are getting frustrated

And keep asking for more.

But it does make sense. "Greed" is human. Anyone who claims to be without greed is a liar.

 

So why talk to the rich about it? If it's the problem of the bottom 50% not earning enough, why aren't you talking to them about it? Get them motivated, educated, ambitious, etc.

 

They prefer to have them dependent, with a victim mentality. Perhaps some ancestors were slaves or something.

Lots of bottom 50% benefiting from the Trump economy.

 

The opportunities already exist. That's why so many have started poor and ended up rich.

 

Great post.

And you're right .. they're not working 9 - 5. More like 7 til 7.

 

Yes, the old "I'm too poor to eat anything but overpriced junk" lie. Hard to believe anyone actually falls for that.

 

No it isn't. It's in notes, CD, bank accounts and so forth. You think they are converting it paper money and stacking it in the closet?

If they earned it honestly, what the hell do you care? They may do as they like with it. Why the hell do you think you have a right to either their money or tell them how to manage it? If our system you are free to make your own money and then do as you wish it it, so long as you obey the law.

 

And that other essential, often overlooked ... self-discipline. Without it you're doomed.

 

Well, think about it! The stock market is a bloated fraud-balloon which floats along at the pleasure of the Federal Reserve System, and very damned little anything else. After that last big recession it became clear that equity 'values' are just so much manufactured fiction. The smart thing to do now is to hoard cash, and continue to very, very careful with stocks AND gold and silver. The Fed manipulates the price of all that, too.

Right now, the other "evil-twin" central bank, the European Central Bank, is preparing to launch another "quantitative easing", even though it is still carrying over THREE TRILLION EUROS in "balance sheet" crap. Why? Europe, the heart of all socialist 'goodness' is falling on its face -- again! Meanwhile, our own central bank, the Fed, has cut interest rates, and will probably cut even more -- even though it continues to carry a "balance sheet" full of crap from the last series of "rescues" amounting to FIVE TRILLION DOLLARS. This is not (NOT) the way to GROW AN ECONOMY! Take the 'patient' off 'crutches' or he'll never be able to walk on his own again!

Why should anybody be criticized for hoarding cash? What exactly IS a "good" stock or commodities investment for the long-haul when everything is so damned manipulated by these central banks...?!

 

The S&P 500 has gained 33.1 percent since its close on November 8, 2016. By comparison, the benchmark index has gained 25.8 percent since Trump was sworn into office on January 20, 2017.
https://www.foxbusiness.com/markets/trump-stock-market-success-comparison

Maybe the DJIA is up 48%. I doubt it though. I don't really care, except to point out the tax cuts had nothing to do with market growth since the market grew from 9,000 when Obama was sworn in to 19,000 when he left. That's what? Over 200% growth in eight years? That's an amazing market run.

 

Really? Knowing my politics, and while I certainly don't subscribe to the extremes of the new definition, I feel safe in believing that you would consider me a "progressive", yet I have worked in the same industry since 2004. I have a wife and 2 kids who I support in the home I own.

 

Of course you can. Anyone who makes $250,000 or less gets a tax cut. Thank you!

lol

It’s not just total income that’s increasing for the rich, either: According to the report, the top 10 percent of Americans owned about 67 percent of all wealth distribution in 1989. In 2016, they controlled a staggering 77 percent of that wealth. The bottom half of families ranked by household wealth (with $97,000 or less in net worth) own only 1 percent of all the wealth. That means 63 million families in the U.S. control only 1 percent of total household wealth.

https://www.foxbusiness.com/economy/rich-americans-taking-a-bigger-chunk-of-total-us-income-report

And you want them to pay more taxes because of course you do. In America, it's a moral failing to be poor. When you're rich, you can grab them by the *****. Trump was telling you (or Billy Bush, to be accurate): I'M SO RICH I CAN GRAB ***** AND GET AWAY WITH IT!

And you want tax breaks for guys like that? Seriously?

 

I wasn't referring specifically to you, obviously. That's clear from my wording.

My argument is with those who simultaneously say they care about kids/old people etc, while condemning those of us who go the extra mile to care for such vulnerable people. It's laughable.

 

In all honesty cubed... I think you ar let a left leaning democrat, but not a progressive.

I respect your opinions.

 

It's is incorrect; taxes most certainly related to the stock market because stock prices are merely a reflection of future corporate discounted earnings. Tax rates decrease means lower tax liabilities for businesses, leading to higher earnings, leading to higher asset prices.

The same thing occurred when Obama was "sworn in," the only difference is the low interest environment. Lower interest rates lowers the cost of borrowing for firms, leading to higher earnings, leading to higher asset prices...

 

Sorry. I'm used to people on here being intentionally indirect for the sake of not getting Mod actioned for personal attacks or flamebait.

I agree with you on that, but I don't think that is what this is referring to.

It's more talking about the rich hoarding money (more then anyone could ever hope to spend) to levels where it becomes detrimental to the overall health of the economy.

I appreciate that. I respect yours as well. I know have had some good back and forths over the years.

 

I think you mean they aren't investing, not that they are hoarding cash? Cash has little value.

 

Well, they are good at what they do. I would be cautious, though. The political environment is toxic for big tech. Elizabeth Warren wasn't kidding about breaking up Amazon, Google, and FB.

 

No doubt. I sure she really means what she says; but she probably doesn't really understand what she is saying, either...

Numerous anti-Trust lawsuits have been filed and settled against FAANG. If they weren't broken up by now, they're not going to be broken up.

 

People are fleeing the stock market. That's why it hasn't gone up in the last year and why the yield curve has inverted.
Trump broke it.
But he can still fix it by signing a deal with China. But it may be to late.

 

Where do they hoard these pallets full of cash?

 

Didn't we almost hit a record high today?

 

You always have record highs during times of growth. Obama had 100's of them.

 

If companies aren't getting "richer", what do you think is happening to the rest of the economy? If companies get poorer what do you think is happening to the economy? The tax rate cuts were across the board with millions at the bottom having their entire tax liabilities wiped out, don't know how you can do much better than that. Those at the top paid HUGELY more in revenue and a higher share of overall taxes. Capital Gains tax revenues were double what they were under Clinton's tax policy at HALF the rate with four times the realizations indicating economic investment and activity. And the deficits fell to a measly $161B.

 

People don't flee the stock market during times of growth. Yes we almost hit a new high today.