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The economy (thelemmy.club)

If you divided all the stocks issued in the US stock markets by issue number

and put them in a basket, chose one randomly,

there is an 87% chance that that specific stock belongs to someone in the top 10% of wealth in the country.

There’s either millions or billions of stocks in existence, but this is still true.

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[-] memfree@piefed.social 32 points 8 months ago

Reminds me of this site (which offers no answers):

https://wtfhappenedin1971.com/

[-] Lojcs@piefed.social 12 points 8 months ago* (last edited 8 months ago)

that took a turn:

[-] fibojoly@sh.itjust.works 10 points 8 months ago

Fascinating, thank you. And the answer seems to be "no more gold standard" and apparently that was Nixon's decision?

[-] ChilledPeppers@lemmy.dbzer0.com 6 points 8 months ago

It is nixon and reagan economics, the gold standard doesn't have much to do with it.

this post was submitted on 28 Sep 2025
189 points (95.7% liked)

ShowerThoughts

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Sometimes we have those little epiphanies in the shower.. sometimes they come from other places. This is a home for those epiphanies.

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