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Economics

Richard Wolff on Trump’s Tax Cuts, etc.

Richard Wolff on Trump’s Tax Cuts, etc.

Indeed, nearly all of the stock ownership in the U.S. is concentrated among the richest. According to Wolff’s data, the top 20 percent of Americans owned 92 percent of the stocks in 2013. Put another way: Eighty percent of Americans together owned just 8 percent of all stocks.

It’s obviously a terrible time to be a brick-and-mortar retailer. But Wall Street is betting that things will get even worse for department stores and retailers. Investors are placing huge wagers that the one-two punch of Amazon (AMZN, Tech30) and fast fashion will knock out more and more stores in the months and years to come. Not surprisingly, retail is the most hated industry in the entire stock market. That’s based on Bespoke Investment Group stats on the average percentage…

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