The sad fact is that the current stock market highs have little effect on most Americans because only a few percent of us actually benefit.

Though millions of Americans own some stock through retirement programs, the effect of this ownership is diluted because the individuals lack the voting power and the purchasing power to buy shares needed  to inluence how the corporations use their capital.

Pew Research found that 53 percent of Americans own no stock at all, nor have any retirement accounts, and out of the 47 percent who do, the richest 5 percent own two-thirds of that stock. And only 10 percent of Americans have pensions,

So imagine you are Paul Allan. Yes he is now dead but he lives on in a trust.  I call that trust Deadpaul.

Deadpaul owns large numbers shares of several companies, enough so his trust can appoint directors who care a lot about Deadpaul’s intersts and not at all about the interest indifvidual stock holder might have through a retirement program or a mutual fund.  For example, I might really want dividends or I might want my shares to pass on at inflated vlaues to my kids so they get money tax free through the trust my lawyer setup.  My voice in such an issue id pretty meaningless.

Money. after all, is power. Deadpaul does not need money to eat and probably no linger has any interest in buying yachts or Jimmi Hendrix memorabilia.  Deadpaul proably has no need of dividends.  He just wnats more capaital.

The Allen trust has  huge power not only over his .. or since he is now dead .. its shares bu over my shares as well.  Even if folks like me own 75% of a company, Deadpaul’s 25% is enough to control the comany and, therefore, to benefit fomr “my” money.

A good example is this chart form Axios.  >I< might care about the drop in new jobs under Trump, but what would it matter to Deadpaul?