The $4 trillion created by the Federal Reserve as part of the 2020 stimulus program appears to have gone entirely to the top 1% wealthiest people in the world.
The average cost of getting a new drug to market is $1.3 billion.
The primary recipients of newly created money are currently banks and corporations who are able to borrow from the Fed almost 0% interest and loan this to the public at much higher interest rates.
If only economists could run for office, the the compound interest on more efficient resource allocation, would have produced a utopia with flying cars by now.
This chart shows when the cost of the average stock (the S&P 500) exceeds its underlying value (corporate profits after taxes).
For millennia, everything sucked. Then something magical happened!
U.S. stocks gained 21% for the first two years of the Trump administration. versus 71.2% in the first two years of the Obama administration.
In 2017, the entire world produced about $127.8 trillion of wealth (GDP).
0% of economists expressed support for tariffs in a recent poll.
The financial sector receives more of the average paycheck than any other sector of the economy. Its share of the economy totals $2 trillion dollars. In 1985, the financial sector earned less than 16% of domestic corporate profits. Today, it’s over 40%. In the 1960s, finance and insurance accounted for only 4% of GDP, whereas in 2007 […]