How about a history lesson before discussing economics.
In 1928, 0.1 percent of people earned 47 percent of all income.
One tenth of one percent of the population had half of all income.
Real investment began falling in 1925. I define real investment as spending money on concrete and bricks. Machines and technology. Something that adds jobs.
The only growth in "investments" between 1925 and 1929 was investment in the stock market and its schemes.
Who owned the stock market though share ownership? Roughly 300,000 people owned 75% of all the shares of stock being traded.
What did this group get just in dividends? $3.571 trillion dollars. That's just in dividends.
Without adjusting for inflation, that's more than half the total income for the United States in 1999, $5.580 trillion. It's roughly 63% of all 1999 income.
Want to know with inflation? $44 trillion dollars just in dividends to 300,000 people.
That would be one quarter of one percent of the 1928 population.
Before Roosevelt, the United States didn't have a middle class.
Hoover and Coolidge were Conservative Republicans. Who wants to bring back the Conservatives of Hoover and Coolidge? Who wants to live as a slave?
Republicans...like Paul Barnes and Nathan Deal.
Blog has been viewed (81) times.
Log In to post comments.