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The Conversation with Dasha Burns

Trump stock market soars — and wealthy reap gains

The Conversation with Dasha Burns

POLITICO

News, Government, Politics

4.01.6K Ratings

🗓️ 9 October 2020

⏱️ 25 minutes

🧾️ Download transcript

Summary

President Donald Trump regularly promotes the soaring stock market as a barometer of the economy's health. But the wealthiest 1 percent of Americans own 50 percent of the value of stocks held by individual households — and investors aren’t sharing the wealth. POLITICO's Victoria Guida explains how this gap is fueling an increasingly lopsided economic recovery. Scott Bland is the host of Nerdcast and a politics editor at POLITICO.Victoria Guida is a financial services reporter for POLITICO.Adrienne Hurst is an associate producer for POLITICO audio. Jenny Ament is a senior producer for POLITICO audio. Irene Noguchi is the executive producer of POLITICO audio. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

You know inequality you get into a lot of debates about how to measure it

0:04.9

We're seeing things get worse the stock markets rebound signals a v-shaped recovery a k

0:11.5

V-shaped recovery That's straight up.

0:14.7

letter going up. It is turning out to be a V.

0:17.0

Regardless, there is a lot of measurable proof that it's happening. And so the question is, is you know how big of concern is that how

0:26.1

big of a concern is that?

0:29.5

Thank you for asking that.

0:32.1

This is nerd cast I'm Scott Bland and if you've been paying any attention to the debates recently you might have heard these two letters come up

0:39.8

V and K K shape V that's in reference to the economy and what indicators we can use to measure how it's recovering during the pandemic

0:49.7

Victoria Guita is here to explain and I cover financial policy for politico.

0:54.6

Awesome.

0:56.1

Victoria, there was this moment during the first presidential debate

0:59.1

where Chris Wallace, the moderator, actually got a word in edge-wise for a moment, and he asked this question.

1:05.6

President Trump, you say we are in a V-shaped recovery.

1:10.4

Vice President Biden, you say it's more of a K shape.

1:13.0

More of a K shape.

1:14.8

What difference does that mean

1:16.9

the American people in terms of the economy?

1:19.0

And so after I got over the abstract sound of this.

1:22.8

I actually thought, you know, this question basically sums up

1:25.8

the two presidential campaign messages just like translated into NERD.

1:30.2

So what are they talking about here?

...

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