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 […]
Required viewing for anyone who does not yet understand the complicated mechanism by which the banking system transfers wealth from those at the bottom to those at the top.
Empty houses in the US = 14 million. Median Home Price = $160,000. Money Wasted on Building Unneeded Homes = $2 trillion. Why would Americans be so dumb as to build 14 million houses they didn’t need? The two primary reasons we built too many houses are: The United States spends more than $100 billion annually to subsidize homeownership. The mortgage […]
We’re taxing successful, competently run businesses to subsidize irresponsible, poorly run businesses. Until we realize this simple fact, the previous trend of increased productivity and standards of living will only be a memory.