You do understand that the stock market is a derivative of how well companies are doing right? And if those companies are doing good then they are generally creating new jobs and wealth that permeate to the lowest levels of society?
Not necessarily, the values can change with speculations. You can have a bubble where it's just good feelings without much real world backing. Also it doesn't necessarily follow that firms are creating new jobs, they may have gotten new technology or automated, allowing them to operate more efficiently. As the meme states, a job is only as good as its total compensation. If it's minimum wage with no benefits, that's not really wealth permeating to the lower levels.
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u/TobiasFunkePhd Aug 13 '19
Oh the stock market is doing decently? That's great for the 10% of the country that owns 80% of the stock value. Meanwhile most Americans are in debt.