There are generally two ingredients to the formula that cause someone to walk around saying something like, “The stock market is rigged.” First, they generally buy stocks at prices that could be considered a bit higher than average. And secondly, they tend to sell during times when stock prices have become low, because they are focusing on the fact that $10,000 of hard work can only be redeemed for $7,000 (or whatever the low turns out to be) at a particular moment in time.
It seems that the first condition is now being met. The Wall Street Journal reports that small investors are becoming increasingly comfortable with investing in the stock market again (I would link to it, but I understand that a number of you have become irritated at clicking on links that lead to a paywall, so I’ll take a breather for now). And secondly, the price of … Read the rest of this article!
I find it wise to pay attention to the cultural habits that distinguish the difference between the most and least successful households in the United States. Obviously, the most interesting data points are those where the behaviors of the rich and poor are the polar opposite.
In particular, there is an ever-widening gulf between the amount of time that America’s rich and America’s poor spend watching television.
A few TV-related data points:
- 6% of households with income above $150,000 watch over an hour of television per today, compared to 78% of households that earn under $50,000 per year;
- 89% of households that earn under $50,000 watch at least one reality TV show on a regular basis compared to 12% of those from households with income above $150,000;
- The richest decile in the United States watches 8.2 hours of television per week. The poorest decile in the United States watches
… Read the rest of this article!