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When it comes to the stock market, who benefits?

Surprisingly few people, it turns out.

Here is the correlation between income share and the stock-market-to-gdp ratio for every US income percentile.

For a shocking 87% of people, a rising stock market comes with a *declining* share of income.

https://economicsfromthetopdown.com/2023/10/28/when-stocks-go-up-who-benefits/