“In 2022, according to the Federal Reserve, the average American household directly or indirectly owned almost $500,000 worth of stocks. But these holdings were concentrated in the highest-income 10 percent of the population; the median household owned only $52,000.” Paul Krugman
File this under “the New Aristocracy”. Relative to the “income gap”, the more pernicious “wealth gap” flies well under the radar.
Democrats and Moderate Republicans are responding to a disappointingly close election in at least three different ways.
A) The “Perplexed Yet Respectful Resistance” response.
B) The “Angry, I Don’t Know Anyone Outside of New York City, Mindless Stereotype” response. Note that you can negatively stereotype by race, class, and gender and still be given a Nobel Prize.
C) The “Hopeful Healing” response.
I propose “D“, which is “Hopeful Healing” preceded by a six month-long moratorium on political discussion of any kind. We need a collective time-out. Eventually though, we need to start asking questions, listening to, and learning from people who think and vote differently than us.
Or maybe six years?
“. . . the stock market isn’t the economy: more than half of all stocks are owned by only 1 percent of Americans, while the bottom half of the population owns only 0.7 percent of the market.”
Paul Krugman
Pressing Pause 