RT Mel Mattison (@MelMattison1)Let me explain further:In decades past, S&P was more or less a discounting mechanism for future cash flows used by the wealthy as an alternative to cash-flow producing opportunities available in private markets and elsewhere.That is no longer the case.The passage of MAGA accounts cements the S&P as a new pension scheme for the US. This transition began with the institution of the 401(k) and continues to this day.The S&P 500 is, in a very real sense, a new public good. It is ba ...