Posts Tagged ‘1% percenters’

The “1-Percenters”

Rather amazing statistics, especially as seen in the bottom graph, especially for the bottom 99% of us…

The "1-Percenters"

Courtesy of Jake at Econompic Data

According to the Center on Budget Policy Priorities:

Average pre-tax incomes in 2006 jumped by about $60,000 (5.8 percent) for the top 1 percent of households, but just $430 (1.4 percent) for the bottom 90 percent, after adjusting for inflation, according to a new update in the groundbreaking series on income inequality by economists Thomas Piketty and Emmanuel Saez. Their analysis of newly released IRS data shows that in 2006, the shares of the nation’s income flowing to the top 1 percent and top 0.1 percent of households were higher than in any year since 1928.

Note that the latest data available is from 2006.

Top 1% income share of total income

Notice the point (in the above chart) at which the top 1% began to earn a greater share of the total pie for the first time after the Great Depression… the early 1980′s. Know what else occurred in the early 1980′s? Financial professionals began to earn a SIZABLE relative share of national income while all other wages were stagnant.

change in real average weekly earnings

 

Thus began a 25+ year run in which financial professionals and the powerful elite both had a huge incentive to keep the financial bubble going. The financial professionals earned their commission, while the elite had outsized gains on their capital. As the NY Times states:

The gains for the richest took place amid a booming economy, in which hedge funds and private equity firms blossomed and the subprime lending machine went into high gear.

In hindsight, it is not surprising to me that this level of income concentration was last seen right before the Great Depression (I assume financial professionals had an outsized share of income then as well). And even though much of this wealth was just saved by the trillions of taxpayer dollars used to keep the financial machine going, the 1-percenters are protecting this wealth at all costs. Truthdig details:

But what really makes the ultrawealthy so fortunate, what truly separates this moment from a run-of-the-mill Gilded Age, is the unprecedented protection


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The PhilStockWorld com LIVE Weekly Trading Webinar - 09-20-18

 

The PhilStockWorld com LIVE Weekly Trading Webinar - 09-20-18

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Major Topics:

00:01:47 Checking on the Markets
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ValueWalk

Markets Picking Up Steam?

By CapitalTrading. Originally published at ValueWalk.

We are going to keep this week’s letter short and to the point. We are sick and tired of the political charade that is ongoing in DC with the tariffs and the SC vote. For us general Americans deserve better and we will just leave it at that. As for the markets, US Treasury yields have risen above the 3% threshold and in no doubt in further anticipation of next week’s FOMC 25bp hike. We aren’t a big fan of the FEDs slow drip process, we would rather they just hike the FED FUNDs above the 10yr rate and be done with it. With the ECB and BOJ firmly entrenched in continuing QE operations, the world will certainly absorb a relatively hawkish FED. Further evidence is mounting that the FED itself has becom...



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Kimble Charting Solutions

Doc Copper breaking out after large decline, says Joe Friday

Courtesy of Chris Kimble.

CLICK ON CHART TO ENLARGE

Doc Copper over the past few months has been hit hard, as sellers drove it down nearly 25%.

This decline brought it to the price point (2), where four different support lines came into play, which looks like a support cluster. As the decline was taking place, momentum was hitting oversold levels.

Joe Friday Just The Facts Ma’am– This week Doc Copper is experiencing its strongest rally this year, as it breaks above steep falling resistance.

Should Doc Copper contin...



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Zero Hedge

Walmart Warns It Will Be Forced To Raise Prices Due To Trade War

Courtesy of ZeroHedge. View original post here.

One of the reasons why the US economic response to Trump's trade war with China had been lukewarm at best, is that US consumers had not been subject to any of the inflationary consequences of the escalating tariffs between Washington and Beijing. That, however, is about to change: overnight Walmart issued a warning in a letter to U.S. Trade Representative Robert Lighthizer that it may have to raise prices due to tariffs on Chinese imports, CNN Money reported.

"The immediate impact will be to raise prices on consumers and tax American business and ...



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Insider Scoop

Morgan Stanley Bullish On Amazon's New Automated Stores

Courtesy of Benzinga.

Related AMZN Stitch Fix Falls After Piper Jaffray Downgrade; Analyst Says 'Smallest Hint Of Pressure' Could Threaten Valuation ...

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Digital Currencies

Mania to Mania

 

Mania to Mania

Courtesy of 

“Russell rarely played the stock market and had little investing experience when he put around $120,000 into bitcoin in November 2017.”

This comes from a CNN money article, Bitcoin crash: This man lost his savings when cryptocurrencies plunged. From January 2017 through the peak in early 2018, Ethereum gained 16,915%.

Any time you have something go vertical, you just know that some peopl...



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Chart School

Weekly Market Recap Sep 16, 2018

Courtesy of Blain.

Slow and steady drip up all this past week in a very quiet news environment.  A gap down top open the day Tuesday (which was recovered quickly) and a gap up Thursday (which held) were the highlights!

The latest on TRADE WARS!(tm):

Tuesday, news hit that China vowed to retaliate and plans to ask the World Trade Organization next week for permission to impose sanctions on the U.S. for Washington’s noncompliance with a ruling in a dispute over U.S. dumping duties, Reuters reported. That’s part of a dispute that goes back to 2013.

“Trade wars are certainly a concern, but I don’t know that they’re a one...



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Members' Corner

Nike, Colin Kaepernick and the pitfalls of 'woke' corporate branding

 

Adding this article to Members Corner, in case anyone wants to share their opinions on Nike and Kaep, or on divisiveness in general. Also see "A Warning From Europe: The Worst Is Yet to Come" and "What’s behind the current wave of ‘corporate activism’?" ~ Ilene

Nike, Colin Kaepernick and the pitfalls of 'woke' corporate branding

Courtesy of Simon Chadwick, University of Salford and ...



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Biotech

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

Reminder: Pharmboy is available to chat with Members, comments are found below each post.

 

Gene-editing technique CRISPR identifies dangerous breast cancer mutations

Breast cancer type 1 (BRCA1) is a human tumor suppressor gene, found in all humans. Its protein, also called by the synonym BRCA1, is responsible for repairing DNA. ibreakstock/Shutterstock.com

By Jay Shendure, University of Washington; Greg Findlay, ...



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Mapping The Market

Mistakes were Made. (And, Yes, by Me.)

Via Jean-Luc:

Famed investor reflecting on his mistakes:

Mistakes were Made. (And, Yes, by Me.)

One that stands out for me:

Instead of focusing on how value factors in general did in identifying attractive stocks, I rushed to proclaim price-to-sales the winner. That was, until it wasn’t. I guess there’s a reason for the proclamation “The king is dead, long live the king” when a monarchy changes hands. As we continued to update the book, price-to-sales was no longer the “best” single value factor, replaced by others, depending upon the time frames examined. I had also become a lot more sophisticated in my analysis—thanks to criticism of my earlier work—and realized that everything, including factors, moves in and out of favor, depending upon the market environment. I also realized...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

Reminder: OpTrader is available to chat with Members, comments are found below each post.

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

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Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

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All About Trends

Mid-Day Update

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To learn more, sign up for David's free newsletter and receive the free report from All About Trends - "How To Outperform 90% Of Wall Street With Just $500 A Week." Tell David PSW sent you. - Ilene...

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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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