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Currently Playing: We Need to Abolish the Stock Market

PLEASE SUPPORT ME! https://patreon.com/Knowwaynohow Substack: https://substack.com/@knowwaynohow Twitter: https://x.com/awe111 What if the stock market is actually making the economy worse? In this video we break down why the modern stock market may no longer serve its original purpose and how it has become one of the most powerful forces shaping U.S. economic policy and wealth inequality. Politicians and the media often point to the S&P 500, Dow Jones, and Nasdaq as proof that the economy is doing well, but the reality looks very different when you examine who actually owns the market. Nearly half of American households don’t own stocks, while the wealthiest 10 percent of Americans control around 93 percent of all shares. We explore how the stock market has shifted away from funding real economic growth and become dominated by speculation, where most trading simply involves investors buying and selling existing shares rather than funding new businesses or innovation. The video also examines why the real economy feels increasingly difficult for many Americans despite record highs in financial markets, and how other countries structure retirement and economic systems differently. Finally, we look at potential reforms such as a financial transaction tax and restrictions on stock buybacks, while asking a bigger question: what would society look like if the stock market no longer dominated economic decision making? If you're interested in economics, Wall Street, wealth inequality, the U.S. economy, and global economic systems, subscribe for more deep-dive videos like this. Timestamps: 00:00 Intro 00:54 Stock Market = Economy? 02:51 The Economy is Horrible 07:12 Stock Market is a Failure 11:00 It's a Casino 13:06 Fails Society 18:00 Uniquely American 20:29 Chinese Stock Market 24:14 How to Fix it 28:34 Society Without Stock Market 34:45 Abolish the Stock Market SOURCES: Please note some sources not listed here are listed on screen as relevant information is read aloud. https://newrepublic.com/article/157991/stock-market-congress-coronavirus https://www.theguardian.com/sustainable-business/stock-markets-no-longer-fit-purpose https://fortune.com/2026/01/28/scott-bessent-39-percent-of-young-americans-socialism-trump-accounts-invest-in-stock-market/ https://www.investopedia.com/living-paycheck-to-paycheck-youre-not-alone-67-percent-of-people-are-in-2025-11812027 https://fortune.com/2023/05/23/inflation-economy-consumer-finances-americans-cant-cover-emergency-expense-federal-reserve/ https://medium.com/@neshavfrazier/the-average-new-hire-is-42-heres-why-that-s-actually-good-news-61ef2475ec47 https://www.businessinsider.com/congress-stock-act-violations-senate-house-trading-2021-9 https://sites.nd.edu/lawrence-c-marsh/2024/10/01/is-the-stock-market-suppressing-productivity-and-economic-growth/ https://jacobin.com/2025/06/money-for-nothing/?utm_source=chatgpt.com https://capitalinstitute.org/wp-content/uploads/2019/02/ACT-II-RVSD-Interactive-3.pdf?utm_source=chatgpt.com https://www.govinfo.gov/content/pkg/CHRG-117shrg48562/html/CHRG-117shrg48562.htm?utm_source=chatgpt.com https://www.msrb.org/sites/default/files/2023-05/Trading-Patterns-in-the-Primary-vs-Secondary-Market-for-Municipal-Bonds.pdf?utm_source=chatgpt.com https://www.rollingstone.com/politics/politics-news/how-wall-street-killed-financial-reform-190802/ https://www.salon.com/2013/01/29/barack_obama_wall_street_co_conspirator/ https://markets.businessinsider.com/news/stocks/charlie-munger-buffett-berkshire-hathaway-investing-advice-stock-market-gambling-2023-3