Reply #36: Most American workers don't have 401(ks) [View All]

[Political Heretic]

Less the 50% of America is invested in the stock market, only 34% of America has anything over a trivial 6,00k invested.

Of that 34% with over 6k invested, the overwhelming majority of that stock is owned by the top 10% of income earners in the country.

401(k)s are the game of the upper middle class to moderately wealthy, by and large - by the numbers.

Source:
http://www.stateofworkingamerica.org/tabfig_2008_05.html - see for tables, see Chapter 5 of the State of Working America Report by the Economic Policy Institute for more information.


As for the corporate media, they will never suggest that what's good for Wall Street isn't good for Main Street, so I don't know where you get the idea that they're going to be talking down the soaring stock market.