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Letter: The economy is the people, not the Stock Market

Letter: The economy is the people, not the Stock Market

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Trump claims our economy is great, despite the coronavirus and an unemployment rate higher than the Great Recession, but he won’t tell you why or who has gained.

Over 56% of investors are people of some comfortable means, with objective personal/social traits (age, gender, income, wealth, family, tax situation, opportunities). They can afford to lose a little, sell high/buy low, tolerate greater risk for greater return over time. Some investors prefer less risk and are content with a reasonable return. They are conservative, taking their time, paying financial advisers to do thorough research and analyses needed (fundamental, technical, creative).

They are not living paycheck-to-paycheck, Today’s investors hear daily about new technologies being developed. How would you like to have purchased 1,000 shares of Apple in 1983?

The average American, out of work, on diminished unemployment insurance, generally doesn’t have enough “free cash” to gamble.

The market is up, not the economy. The wealthy used 2017’s tax-cuts to get even richer.

Sheldon Metz

Northeast side

Disclaimer: As submitted to the Arizona Daily Star.

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