Saturday, December 05, 2020

 Capitalism, and can you afford it?  I certainly hope so!


US average hourly wage is $24.87 per  Trading Economics
So, with the S&P at $3699 divided by $24.87 you have to now work 149 hours to buy 1 share. This compares to some 30(or less) hours of work needed from  the 1950's to the  1980's to buy 1 share. What happened in the early 1980's ? - think about it. Besides, how many people do you know that actually earn $25, since, according to the Brookings institution, almost half of US workers between ages 18 and 64 are employed in low wage jobs. (The above # of course ignore the current covid disaster)

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