literature.cafe

520 readers
12 users here now
(and anyone else, really)

This is a general special interest lemmy instance focusing on lovers of all things pertaining to reading and writing and all of the people that enjoy it as well as fandoms and niches that exist within reading circles. We federate with other instances, with our local communities being focused primarily on the above.

If you want to federate a new community, go to lemmyverse.net and copy a link to a community and paste it into the search bar. Be patient!

Also, consider installing instance assistant to better navigate lemmy and find communities better! Find links to download them here: firefox, chrome, edge

Instance Rules
  1. Keep it cozy. (No -isms, bigotry, gatekeeping, or general disrespect. Just be nice!)
  2. Please, no visual porn. (Smut and discussion of smut is OK as long as it is tagged as NSFW.)
  3. No spam.
  4. Be mindful of other instance rules.
  5. Keep self-promo to a minimum.
  6. Tag AI generated content as such.
  7. Please avoid piracy.
Server Info

Registration is open with human approval, just to make sure there's no bots afoot. Approval should take less than a day (and are sometimes near instant)

Please check your spam folder for an email from noreply@literature.cafe if you are having difficulty finding email confirmation.

Community creation is enabled. When creating new communities please be mindful of the instance focus.

If you have any issues or concerns, please message an admin

Fediseer Guarantees

For those visiting from other instances, we have a community directory to make finding communities easier: !411@literature.cafe

We also have alternative lemmy UIs to use for those who want them.

A familiar UI - old.literature.cafe

Photon - ph.literature.cafe

Tesseract (photon fork with more multimedia focused features) - t.literature.cafe

Donations are greatly appreciated and go entirely to server costs but are not required.

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founded 1 year ago
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The wealth of the 1% just hit a record $44 trillion (www.cnbc.com)
 
 

cross-posted from: https://lemmy.world/post/13724318

Key Points

  • The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter.
  • All of the gains came from stock holdings thanks to an end-of-year rally.
  • Economists say the rising stock market is giving an added boost to consumer spending through what is known as the “wealth effect.”

The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve.

The total net worth of the top 1%, defined by the Fed as those with wealth over $11 million, increased by $2 trillion in the fourth quarter. All of the gains came from their stock holdings. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter.

While their real estate values went up slightly, the value of their privately held businesses declined, essentially canceling out all other gains outside of stocks.

2
644
The wealth of the 1% just hit a record $44 trillion (www.cnbc.com)
 
 

Key Points

  • The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter.
  • All of the gains came from stock holdings thanks to an end-of-year rally.
  • Economists say the rising stock market is giving an added boost to consumer spending through what is known as the “wealth effect.”

The wealth of the top 1% hit a record $44.6 trillion at the end of the fourth quarter, as an end-of-year stock rally lifted their portfolios, according to new data from the Federal Reserve.

The total net worth of the top 1%, defined by the Fed as those with wealth over $11 million, increased by $2 trillion in the fourth quarter. All of the gains came from their stock holdings. The value of corporate equities and mutual fund shares held by the top 1% surged to $19.7 trillion from $17.65 trillion the previous quarter.

While their real estate values went up slightly, the value of their privately held businesses declined, essentially canceling out all other gains outside of stocks.

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