The markets affect the spending habits of only a portion of Americans, that is true. But those who are in that category tend to do a whole lot more spending than those who are not affected.
ah, here i think we disagree. the consumption frenzy we've been seeing hasn't been concentrated in coach stores and nieman marcus; its been at walmart and has boosted chinese exports by 33%.
> That is similar to the fact that most folks pay little or no
> income taxes but those in the highest tax brackets pay a hugely
> disproportionate share of all taxes
tsk tsk. its not similar. above we're talking about absolutes and here you're talking proportions. its not gonna help the italian economy much of lamborghini quadruples its yearly sales, but if fiat increased theirs by 25% ...
> by selling the stocks or as collateral for borrowing against
> the stocks, even in a retirement account.
hmm. i believe that's only for 401k and similar, right? and only if you're still employed by the same employer.
If you subtract the total market capitalization back in March from the current total market capitalization, you get an idea how much wealth has been created during this rally.
true, but the trick is getting it out. though apparently you're thinking most will just leverage it ... we haven't quite seen selling yet.
and as a bonus he gets improved consumer sentiment.
hmm, were you sleeping tuesday?
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