{"id":1552286,"date":"2022-07-13T10:49:08","date_gmt":"2022-07-13T14:49:08","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1552286"},"modified":"2022-07-13T10:49:21","modified_gmt":"2022-07-13T14:49:21","slug":"senate-trotskyite-has-no-idea-how-mutual-funds-work","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/senate-trotskyite-has-no-idea-how-mutual-funds-work\/","title":{"rendered":"Senate Trotskyite Has No Idea How Mutual Funds Work"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsenate-trotskyite-has-no-idea-how-mutual-funds-work%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1552286&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/07\/Screen-Shot-2022-07-13-at-10.03.31-AM-1024x468-1.png\" class=\"ff-og-image-inserted\" alt=\"image\" \/><\/div>\n<p>Here is Bernie Sanders, <a href=\"https:\/\/today.yougov.com\/ratings\/politics\/popularity\/Democrats\/all\">the most popular<\/a> elected Democrat in the nation:<\/p>\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\">\n<div class=\"wp-block-embed__wrapper\">\n<span class=\"gCqdZfo1JYFqLybvYkGVdx3hQBIjZPzQRvrBP4W0DR5b6lKX7awUAgF9NU28rmTDV1MomnhKcf2HOy97lW3S\"><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Today, in America, just three Wall Street firms \u2013 BlackRock, Vanguard and State Street \u2013 manage $22 trillion in assets. These three firms are major shareholders in more than 96 percent of S&#038;P 500 companies.\u00a0Obscene.<\/p>\n<p>\u2014 Bernie Sanders (@SenSanders) <a href=\"https:\/\/twitter.com\/SenSanders\/status\/1546644419171975168?ref_src=twsrc%5Etfw\">July 11, 2022<\/a><\/p><\/blockquote>\n<p><\/span>\n<\/div>\n<\/figure>\n<p>It seems fairly concerning that the Democrats\u2019 <em>Budget<\/em> Committee chairman doesn\u2019t understand how mutual funds work or what fund managers do for a living. <em>Of course<\/em> index funds represent most of the market. But BlackRock, Vanguard, and State Street are not \u201cmajor shareholders in more than 96 percent of S&#038;P 500,\u201d or even \u201cWall Street\u201d firms. They manage other people\u2019s money and offer advice to tens of millions of investors with 401(k)s and IRAs. <\/p>\n<p>Companies like Vanguard revolutionized investing with index funds, allowing small investors affordable access to the market \u2014 democratizing market participation, and funding personal and market growth. The <a href=\"https:\/\/www.inquirer.com\/business\/vanguard-how-america-saves-2019-retirement-savings-20190611.html\">average<\/a> Vanguard account balance is $92,148; the median balance, $22,217.<\/p>\n<p>Does Bernie want everyone who electronically transfers a few hundred bucks into a fund every month to hire a personal money manager and walk a sack of quarters down to the bank every month? Or does he just want the state to nationalize all retirement funds? <\/p>\n<p>Because, while it\u2019s true that most of these investors won\u2019t be able to parlay their funds into lakefront <a href=\"https:\/\/people.com\/home\/bernie-sanders-summer-home\/\">dachas<\/a>, it does give them a far better chance than if they relied on their <a href=\"https:\/\/www.heritage.org\/social-security\/report\/social-securitys-rate-return#:~:text=Social%20Security&#039;s%20inflation%2Dadjusted%20rate,just%20under%20%2426%2C000%20in%201996.\">measly<\/a> return of Social Security. Well, at least, until government-induced inflation destroy everyone\u2019s savings.<\/p>\n<hr class=\"wp-block-separator\" \/>\n<div class=\"article-author-description fst-italic\">\n  David Harsanyi is a senior editor at The Federalist. Harsanyi is a nationally syndicated columnist and author of five books\u2014the most recent, <a href=\"https:\/\/www.amazon.com\/Eurotrash-America-Reject-Failed-Continent\/dp\/0063066017\/\">Eurotrash: Why America Must Reject the Failed Ideas of a Dying Continent<\/a>. His work has appeared in National Review, the Wall Street Journal, Washington Post, Reason, New York Post, and numerous other publications. Follow him on Twitter, <a href=\"https:\/\/twitter.com\/davidharsanyi\/\">@davidharsanyi<\/a>.<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Here is Bernie Sanders, the most popular elected Democrat in the nation: Today, in America, just three Wall Street firms \u2013 BlackRock, Vanguard and State Street \u2013 manage $22<\/p>\n","protected":false},"author":831,"featured_media":1897752,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1552286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_finder_url":"https:\/\/thefederalist.com\/2022\/07\/13\/senate-trotskyite-has-no-idea-how-mutual-funds-work\/?utm_source=rss&utm_medium=rss&utm_campaign=senate-trotskyite-has-no-idea-how-mutual-funds-work","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1552286","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/831"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1552286"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1552286\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1897752"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1552286"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1552286"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1552286"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}