“If, in 1970, you invested $100 in a fund tracking the S&P index, then by 2023 the investment would have grown to $22,000, far more than it would have in other assets such as real estate or government and corporate bonds. Case closed, right? Put your money into an index fund and simply leave it there.”
... in the 1930s, wealthy Germans who saw the Nazi party as a “battering ram” against trade unions and socialists were persuaded to overlook Hitler’s antisemitism because it allowed the market system to flourish."
... a lot of German elites said to themselves: we’re quite happy funding Hitler because his street fighters will help crush the trade unions, so that we can make more profits.”
How much of national income goes to the richest 1%?
“You might expect these numbers to be strongly correlated to a country’s level of economic development. But this isn’t always the case. In the United States, for example, 1% of its population takes home 21% of national income. This is relatively high globally.”
How much of national income goes to the richest 1%?
“You might expect these numbers to be strongly correlated to a country’s level of economic development. But this isn’t always the case. In the United States, for example, 1% of its population takes home 21% of national income. This is relatively high globally.”
“But the four men who rode atop the wave of the Gilded Age were Andrew Carnegie, John D. Rockefeller, Jay Gould, and J. P. Morgan. Their business activities during the final four decades of the nineteenth century drove America’s ascension into the most powerful industrial nation on the planet. And they shaped the rules that governed the US economy for decades to come.”
Al Jazeera reports that the US House of Representatives has adopted an amendment to the Ministry of Defense #budget that prevents it from allocating any funds for the reconstruction of #Gaza.