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%…
Tag: banks
Government Spending
Continue Reading
Meet the Backers: Bankers Flip-Flop to Romney
The financial sector primarily backed Romney in 2012 after having supported Obama in 2008.
Financial Sector
Continue Reading
How the US Monetary System Steals from the Poor and Gives to the Rich
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.
Corporate Welfare
Continue Reading
What Would Have Happened If We Let AIG Fail?
The average household in America had to shell out around $2000 to make sure that AIG’s counter-parties wouldn’t have to accept the risks they took.
Corporate Welfare
Continue Reading
Historical Examples Show Government Intervention Only Prolongs Economic Downturns
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.