Stocks

The wealthiest 10% of Americans own a record 89% of all U.S. stocks

What this translates to is the wealthiest 10% owning a huge stake in the US economy.

The top 1% gained more than $6.5 trillion in corporate equities and mutual fund wealth during the Covid-19 pandemic, while the bottom 90% added $1.2 trillion, according to the latest data from the Federal Reserve. The share of corporate equities and mutual funds owned by the top 10% reached the record high in the second quarter, while the bottom 90% of Americans held about 11% of stocks, down from 12% before the pandemic.

“Many of the younger investors also bought in at higher prices, compared to bigger investors who have been in the market for years and see larger gains,” Rosenthal said.

CNBC

This surely sounds alarming and a bit click-baity. The wealthiest does get to choose a lot where to invest money in the US economy.

Travel

VTL between Singapore and USA

Vaccinated travelers can enjoy quarantine-free travel between Singapore and seven European countries (Denmark, France, Germany*, Italy, the Netherlands, Spain, and the United Kingdom), Canada, and the United States starting 19 October 2021, as well as South Korea starting 15 November 2021.

Singapore Air

Starting from 19 October 2021, these two flights will be available for travelers between USA and Singapore:

  • Between New York and Singapore, SQ23 will operate daily as the designated VTL flight.
  • Between Los Angeles and Singapore, SQ37 will operate daily as the designated VTL flight from

Time to plan for a trip to Singapore!

On a separate note, VTL between San Francisco and Singapore will begin with SQ33 operating daily from 20 October 2021.