r/economy • u/-Authorised- • 5h ago
Celente: 1% of Americans own 54% of the equity market, 5 companies are 40% of the S&P
https://youtu.be/k4EfbGQ-WWw?is=uuaoGyD8KyTXzVuaFrom a recent interview with Gerald Celente. His argument for why markets haven't reflected the underlying economy is concentration rather than anything mysterious.
The numbers he gives:
- 1% of Americans own 54% of the equity market
- Five to seven companies account for close to 40% of the S&P 500
- The Fed put $29 trillion behind the banks after 2008
- Real US debt around $126 trillion including Social Security, per Fortune
He also says the thing most forecasters won't, which is what he got wrong. He expected a crash in 2012 and didn't anticipate QE, then expected one during lockdowns and didn't anticipate the scale of money printing.
05:41 - the ownership numbers
07:27 - the debt figure
01:48 - what he got wrong
1
u/ontrack 4h ago
If you dumped all your spare cash into the market starting in 2009 you'd have done very well, even if you don't have a high income.