The decade started with fear and despair as Wall Street was on the verge of collapsing. But 2019 finishes with a great upswing, pulling investors from the depths of anxiety into one of stability.
Major indices are at record highs. $17 trillion has been added to the market in the last year alone.
The Federal Reserve has done a wonderful job this decade say, analysts. It was a cumulative effort by other central banks and the Federal Reserve that helped to rescue the economy, says chief strategist from Prudential Financial Quincy Krosby.
However, Sen. Bernie Sanders has repeatedly stated that the federal government has bailed big banks using taxpayer’s money. The financial system continues to be blamed for the many faults that are seen to linger even today.
American riches are not enjoyed by the lower rung in the economy. The rich, who constitute just 10 percent of the population, continue to own 84 percent of shares in 2016, says Professor Ed Wolff, from the New York University.
The S&P, however, has gone up by 30 percent for the year. The Dow Jones Industrial Average started to hit records in 2013 and has been on an up move since then.
People have been buying houses and vehicles, which reflects that the economy is getting better, states Krosby.
The financial crisis and the Great Recession that happened in the 1930s were scary. Stocks fell by 60 percent between 1937 and 1942.
It happened again when the market touched its lows in March 2009. The S&P fell almost 57 percent between 2007 and 2009. However, the quantitative easing that was announced by the Federal Reserve has helped to restore the market with interest rates at record lows.
Investors of today are more somber. Taking risks is not a task that all investors enjoy, as they have seen their wealth and investments shrivel during the crisis.
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